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'ING Insurance: improving performance' is the main theme for the semi-annual Investor Day, held today in London. Jan Hommen, CEO of ING, will open the day by reiterating ING's overall top priorities for 2010. He will elaborate on the process to separate the bank from the insurance business and on the way ING is improving its overall performance. In October 2009 ING Bank announced 'Ambition 2013'. First results of this plan, which aims to bring return on equity within the bank to 13%-15%, are already showing in the first quarter. Today, ING Insurance will outline its strategic plans.
Tom McInerney, COO of ING Insurance will elaborate on plans to improve performance at the insurance company to achieve a double digit return on equity in the coming years. ING Insurance will focus on improving leadership in pensions and life insurance in all five regions. As markets and ING's capital position will improve, ING aims to gradually re-risk the investment portfolio in order to achieve a higher investment margin. Capital generated in mature markets will be deployed to developing markets. ING Insurance aims to keep administrative expenses flat through earlier announced …