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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: ING's S.Korea insurer to raise $246 mln in capital Reuters - 1 hour 51 minutes ago SEOUL, Nov 18 - The South Korean insurance arm of ING <ING.AS> <ING.N> will raise 350 billion won in fresh capital during the current quarter to strengthen its capital position, the unit said on Tuesday. The move by ING Life Insurance Korea would be via the sale of new subordinated bonds to ING Group, following the previous 400 billion won capital increase made in 2007. ING Life, which is the biggest foreign life insurer in South Korea, is also working to buy back a 14.9 percent stake in itself from KB Financial Group <105560.KS>. Last month, KB expected the stake sale to fetch about 600 billion won. On Nov. 12, ING Group posted its first-ever quarterly loss as impairments on stocks and bonds, counterparty losses and property writedowns ate into its income. The group agreed to a 10 billion euro cash injection by the Dutch government to shore up its core capital. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: Business Russia daily c.bank swap limit at 20 bln roublesReuters - 23 minutes ago Japan opposition seeks to force early electionReuters - 23 minutes ago Severstal cuts EBIDTA forecast, defers $8 bln capexReuters - 23 minutes ago India ICICI Bank sees interest rates coming downReuters - 26 minutes ago RPT-GLOBAL MARKETS-Bank fears resurface, Asia stocks sinkReuters - 28 minutes ago Most Popular – Business Viewed Citigroup to slash 50,000 jobs, expenses worldwide Exercise, sleep cuts cancer risk: study Earth would be heading to a freeze without CO2 emissions Prince Charles wants to speak out as king: biographer Obama and McCain pledge 'new era of reform' View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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