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ING U.S. Files Registration Statement For Proposed IPO

 November 09, 2012 01:45 PM

(By Balachander) ING U.S. Inc., a subsidiary of Amsterdam-based ING Groep N.V. (NYSE: ING), said it has filed a registration statement with the U.S. Securities and Exchange Commission (SEC) for a proposed initial public offering of its common stock.

The ING U.S. family of companies offers financial services to retail and institutional clients.

ING U.S. provides its principal products and services in three ongoing businesses — Retirement Solutions, Investment Management and Insurance Solutions — and reports its results for these ongoing businesses through five segments.

Retirement Solutions business provides its products and services through two segments: Retirement and Annuities. Investment Management business provides its products and services through a single segment, also called Investment Management.

[Related -ING US Call Buyers Look For Shares To Extend Post-IPO Rally]

Insurance Solutions business provides its products and services through two segments: Individual Life and Employee Benefits.

In 2011, ING U.S. had net loss available to common shareholder of $88.1 million and $1.1 billion of operating income before income taxes.

In the six months ended June 30, 2012, ING U.S. generated $129.2 million in net income available to common shareholder.

As of June 30, 2012, ING U.S. had $445.3 billion in total AUM and AUA.

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