ING (NYSE:ING) had been rather quiet of late, having enjoyed a rather suboptimal period of performance, especially in its US insurance operations. Although the Dutch bancassurance giant has long been planning to spin off its insurance operations from its banking ones, it has signalled its intent to IPO the insurance operations whole. That was, admittedly, over a year ago.
Bloomberg came out with a story that ING has offers from a group of Latin American investors for the insurer's Latin American insurance assets. It would seem from the press coverage that ING is taking the offer seriously, which in turn implies that its divestiture of assets has been a little slower than desired. Although ING was #2 in the Latin American pension market as of 2009, according to a presentation by CEO Jan Kommen in summer 2010, its Latin American operations weren't a huge part of its top or bottom line. Nonetheless, this may signal a change in strategy.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.