S&P Gives ‘AA+’ Rating to ING Re

January 1, 2001

Standard & Poor’s assigned its “‘double-A plus long- term counterparty credit and insurer financial strength ratings to ING Re(Netherlands) N.V.,” reflecting its core position within the ING Group.

“Ratings on the core insurance entities of the ING insurance group are based on its very strong business position and extremely strong capital. These strengths are supported by very strong financial flexibility and improving earnings,” said the announcement.

S&P also noted that recent U.S acquisitions (ReliaStar Life and Aetna’s international and financial service business) had strengthened the group, but indicated that “the integration of recent acquisitions remains a significant challenge.”

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