ING Sells Off Australian P-C Assets To QBE
NU Online News Service, May 17, 8:52 a.m. EDT?Amsterdam-based ING Groep N.V. is selling its stake in two insurance businesses to its Australian venture partner QBE Insurance Group Ltd. for $528.5 million. [@@]
ING said it was selling off its interest in a property-casualty unit and a workers' compensation business in an effort to focus its energies on its life insurance and other financial-services businesses. ING has a 30 percent stake in QBE's comp business.
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