- ING
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NYSE: INGHeadquarters: 230 Park Avenue, New York, NY 10169
2010 gross per annum: $77 billion
Key Officers: Rodney O. Martin, Jr., Chief Executive Officer; Robert G. Leary, President and Chief Operating Officer; Maliz Beams, President and CEO, ING U. S. Retirement
Products and Services:
ING offers insurance solutions to individuals, retail stores and institutional clients. With its international headquarters in Amsterdam, ING operates in 50 countries and serves more than 85 million private, corporate, and institutional clients. ING sells an array of financial products which includes annuities, retirement plans, life insurance, mutual funds, managed accounts, alternative investments and more. The company is considered one of the 20th largest financial institutions in the world.
Some quick facts about ING:
ING and its insurance component of services can be traced back to 1928 when the Security Life of Denver Insurance Company in Colorado was founded. In 1977, the Dutch insurance giant National-Nederlanden purchased the company.
The modern-day company ING resulted from the 1991 merger between Nationale-Nederlanden and NMB Postbank Group. After the merger, the company shortened the name to I-N-G, which stands for Internationale Nederlanden Groep.
In keeping with its origins, the company’s orange-colored lion logo represents Holland’s Dutch Royal Family, the House of Oranje-Nassau and a symbol of Dutch pride.
Within the next three decades, ING acquired a number of companies and their services to expand its financial products and insurance offerings. In 2000, the company acquired ReliaStar and healthcare provider Aetna’s financial services group and international offices in order to further diversify their portfolio of mutual funds and life insurance products.
In 2000, ING launched ING DIRECT USA, a savings and loan bank without brick-and-mortar banking branches that offers investment and mortgage loans through the Internet. Then in 2007, the company acquired online investment company, Sharebuilder.com by offering consumers the opportunity to open investment accounts and purchase stocks at $4 a share with no minimum balance, reduced commissions and maintenance fees.
ING’s sister companies include ReliaStar Life Insurance Company and ReliaStar Life Insurance Company of New York.
Sources: www.ing.us, www.money.cnn.com
Compiled by Life Quotes, Inc Staff.
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