ING Group (ING) announced that it has closed the transaction to transfer its U.S. group reinsurance business, ING Reinsurance U.S., to Reinsurance Group of America Inc (RGA).
ING said that the transfer of ING Reinsurance U.S. will have a limited positive impact on its 2010 earnings. The transaction is expected to release about EUR 100 million in capital and improve the debt/equity ratio of ING Insurance by around
60 basis points, the company stated. ING said it will retain a reinsurance portfolio in the U.S. that has been in run-off since 2002.
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