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The company's main center for broker-dealer (the ING Financial Partners division) [2] and annuities businesses is located in Des Moines, Iowa. [5] This center was first established in 1997 and employed 400 as of late 2014.
The company is a component of the Euro Stoxx 50 stock market index. [8] The long-term debt for the company as of December 2019 is €150 billion. [9] ING is an abbreviation for Internationale Nederlanden Groep (lit. ' International Netherlands Group '). The orange lion on ING's logo alludes to the group's Dutch origins. [10]
^D Grupo Santander only acquired the savings portion of Bradford & Bingley; the company's loan portfolio was nationalised by the UK government. [83] ^E The Financial Supervisory Authority took control of the board of directors while Kaupthing Edge, its Internet bank, was taken over by ING Direct UK. [84]
The company sold more fixed index annuities than any other provider in 2023, with over $1.1 billion in sales, according to a ranking by LIMRA, the largest life insurance trade association in the U.S.
An annuity is a financial contract between you and a life insurance company. You pay a lump sum or series of payments to the insurer who, in turn, agrees to make regular payouts to you over a ...
Each annuity is a contract between you and an insurance company: You provide the company money now, and they promise to pay you a steady income later, potentially for the rest of your life.
In July 2007, the company acquired Liberty Reverse Mortgage, a reverse mortgage company, for $50 million. [17] It sold the company to Ocwen for $22 million in April 2013. [18] In September 2007, the company sold its wealth management unit to private equity firms Aquiline Capital Partners and Genstar Capital Management for $412.5 million. [19] [20]
In 1752, Benjamin Franklin founded the first American insurance company as Philadelphia Contributionship.In 1820, there were 17 stock life insurance companies in the state of New York, many of which would subsequently fail.