NU Online News Service, Nov. 27, 12:43 p.m. – ING Re Group Life, Accident & Health Reinsurance, Minneapolis, says it wants to play a “continuing role as a lead reinsurer” in the group life, disability, accident and health reinsurance businesses.
ING Re reported weak third-quarter results last week, and it announced that, as a result of the Sept. 11 attacks, it would stop reinsuring group personal accident programs and workers’ compensation programs against catastrophic losses.
But the company as a whole remains strong, Theresa Wurst, president of the ING Re Group Life unit, writes in a recent memo sent to ING Re clients and brokers.
“This has been a difficult time for our industry,” Wurst writes. “As we work through this together, we would like to assure you of our continued commitment to the group reinsurance marketplace.”
The ING Groep N.V., Amsterdam, acquired the U.S. group reinsurance operations a year ago, when it completed the acquisition of ReliaStar Financial Corp., Minneapolis.