ING Group to sell 30M shares in annuity, life insurance firm ING U.S.

ING Group said in a filing with the Securities and Exchange Commission that it plans to sell 30 million of its shares in ING U.S., which sells life insurance, annuities and other retirement products in the U.S., as a part of its previously announced secondary offering. The transaction will reduce ING Group's ownership of ING U.S. from 71% to about 60%, the company said.

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National Underwriter Life & Health · Bloomberg · Insurance Business Review

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