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ING Benefits Teams Up With Manulife

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NU Online News Service, May 22, 2003, 11:54 a.m. EDT – The Minneapolis-based employee benefits division of ING Groep N.V., Amsterdam, will be working with Manulife Financial Corp., Toronto, to improve service for employers that have employees in both the United States and Canada.

The companies have set up reinsurance agreements that will help ING insurance companies and Manulife share risk and create guaranteed-issue amounts appropriate for each country while simplifying underwriting structures, ING says.

ING and Manulife already cooperate through MIA Benefits, Brussels, a 30-country benefits network, but ING says the new agreement should help it and Manulife offer dual-country employers broader, more consistent coverage.