Reinsurance Group of America, Inc. (RGA), a provider of life reinsurance services, has entered into an agreement to acquire ING Reinsurance US from ING Group for EUR100 million. Both RGA and ING Reinsurance are based in the US.

ING Group is a Dutch financial institution offering banking, investments, life insurance and retirement services. ING Reinsurance US is a provider of reinsurance programs for group life, accident and health insurance companies.

Brunswick Group is acting as PR advisor to ING Group.

The transaction is expected to close in the first quarter of 2010.

Deal Value (US$ Million) 149.31
Deal Type                Acquisition
Sub-Category             Asset Purchase
Deal Status              Announced: 2009-10-16

Deal Participants

Target (Company)   ING Reinsurance
Acquirer (Company) Reinsurance Group of America, Incorporated
Vendor (Company)   ING Groep N.V.

Deal Rationale

The transaction will facilitate ING Group to focus its US insurance operations on retirement services, life insurance and rollover annuities. In addition, the transaction is expected to release nearly EUR100 million in capital and improve the debt/equity ratio of ING Insurance by around 60 basis points.