ING Seen Divesting SulAmerica Unit

ING Seen Divesting SulAmerica Unit

People Corporate & Sovereign Strategy

Itau Securities says ING may sell SulAmerica after the Dutch institution's CEO Jan Hommen announced the company intends to divest between €6bn- €8bn of non-core assets around the world. ING plans to focus its insurance segment on pension and life businesses. SulAmerica acts as a diversified insurer that goes beyond the pension and life areas, which makes Itau think the company will be sold. Itau says a possible buyer may be Banco do Brasil, which could merge its insurance companies with Su

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