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macker · 05-01-2009, 11:08 PM

March 12, 2009 : ING Canada is no more. In a $2.2 Billion transaction, institutional and retail investors acquired the former subsidiary of Netherlands-based ING Groep, which had a 70% stake in the company. It is now a Canadian-owned, publicly traded entity. Last year ING Canada reportedly generated $620 million. The insurer also has a new name : Intact Insurance.

Personally I am not a fan of the new brand but the company is solid and reportedly has up to 1.1 Billion that they are going to use to likely buy out a company such as Aviva Canada or RSA Canada. Nothing to worry about. As for the ING Direct banking division they are going to remain under the parent company. cut and pasted/font is quite small

05-01-2009, 11:08 PM	#2
macker First Line Centre Join Date: Apr 2007 Exp:	March 12, 2009 : ING Canada is no more. In a $2.2 Billion transaction, institutional and retail investors acquired the former subsidiary of Netherlands-based ING Groep, which had a 70% stake in the company. It is now a Canadian-owned, publicly traded entity. Last year ING Canada reportedly generated $620 million. The insurer also has a new name : Intact Insurance. Personally I am not a fan of the new brand but the company is solid and reportedly has up to 1.1 Billion that they are going to use to likely buy out a company such as Aviva Canada or RSA Canada. Nothing to worry about. As for the ING Direct banking division they are going to remain under the parent company. cut and pasted/font is quite small