To buy the assets is the Pacific Century group, for 1,64 billion euros - The Dutch bank had already divested its insurance business in Malaysia - The disengagement operation will yield the company a net gain of around one billion in the first quarter of 2013.
Ing's disengagement from the insurance branch in Asia continues: the Dutch banking group has announced that it has sold to Pacific Century, for the sum of 1,64 billion euros, its insurance business (life and pensions) in Hong Kong and Macao.
ING had already done a similar thing with its insurance assets in Malaysia. The sale should yield the company a net gain of around one billion euros at the end of the first quarter of 2013, when the sale will be formalised.
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