ING Insurance To Rebrand As "NN" - Quick Facts

(RTTNews) - Dutch financial services firm ING Groep NV (ING) Wednesday announced its plans to rebrand ING Insurance as 'NN', a new identity that balances the heritage and Dutch roots with the requirements of an international and future-proof brand. This is in regard with the divestment of European insurance and investment management businesses through an Initial Public Offering, planned for 2014, the company said in a statement.

The company also said that operational rebranding process will begin only after ING Insurance has been successfully brought to the market. Until then, the business units including ING Insurance, ING Investment Management and Nationale-Nederlanden will continue to operate under their current brands.

ING noted that this announcement will not impact the branding of ING Bank's operations or the investment management businesses that are part of ING U.S., Inc., ING's U.S.-based retirement, investment and insurance subsidiary which plans to rebrand in the future as Voya Financial.

Ralph Hamers, CEO of ING Group, said, "ING Insurance progresses well with its preparations to become a stand-alone company. Today's announcement of the future brand 'NN' is an important milestone and underscores that we are in the end phase of the restructuring of ING Group."