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Nationale-Nederlanden, RVS, ING Verzekeren To Merge

ING expects the program to lead to a reduction of the workforce by approximately 800 positions

ING has reveiled that Nationale-Nederlanden, RVS and ING Verzekeren Retail (formerly Postbank Verzekeren) would combine into one organisation, under the Nationale-Nederlanden brand to be reinforced.

ING said that the new insurance organisation will have business units for retail customers, small and medium-sized enterprises and corporate clients. Jan Hommen, CEO of ING, said: “By streamlining the company and creating dedicated business units for customer groups, we will be able to better serve our over five million insurance customers in the Netherlands with the products they want.”

Within the combined entity, ING would create a business unit to offer services to clients with insurance policies that are currently no longer sold.

ING expects the program to lead to a reduction of the workforce by approximately 800 positions, over the coming three years. This reduction is to be mainly realised through natural attrition, internal reallocation and by discontinuing temporary contracts.