RGA To Buy ING's North American Reinsurance Unit

Law360, New York (October 16, 2009, 4:20 PM EDT) -- ING Groep NV has agreed to sell its U.S. and Canadian reinsurance business to Reinsurance Group of America Inc., in a deal that the Dutch financial giant said Friday would free up €100 million ($149 million) in capital.

The companies did not disclose the terms of their agreement for ING Reinsurance U.S. in Friday's announcement, but said the deal was set up as an indemnity coinsurance agreement between RGA and ING.

ING Reinsurance — which includes ING's 2000 acquisition of ReliaStar Life Insurance Co. — is...
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