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March 25, 2013updated 13 Apr 2017 8:40am

ING completes sale of interest in ING Vysya Life Insurance

Dutch financial conglomerate ING Groep NV has completed the sale of its 26% interest in ING Vysya Life Insurance Company Ltd. to its joint venture partner Exide Industries Ltd.

By Verdict Staff

ING said that the divestment, which does not have a material impact on the firm’s results, is part of its earlier announced process to divest ING’s insurance and investment management businesses.

The process to divest the other insurance and investment management businesses in Asia, including ING’s fund management operations in India, will be on-going, the company said.

The divestment does not impact ING Vysya Bank, a publicly listed Indian bank in which ING has a 44% stake.

Founded in 1991, the company provides banking, investment, life insurance, and retirement services for individuals, families, small businesses, corporations, institutions, and governments worldwide.

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