ING get approval for Ukrainian life insurance

by Richard Kilner

Story link: ING get approval for Ukrainian life insurance

Dutch bank ING has been given the regulatory green light to begin life insurance activities in the Ukraine.

The Ukraine is populated by around 46m people, and its middle class is swiftly expanding.

ING sees the country as a lucrative marketplace, given its potential for the future and its strong signs of growth.

Banking, investment, life insurance and retirement services are the bank’s key strategic objectives, according to Jacques de Vaucleroy, a member of the Executive Board responsible for insurance within Europe.

De Vaucleroy went on to add that the firm’s goal was to establish a leading presence in the Ukrainian market.

Operations are forecast to commence in the first half of next year, with CEO Veronika Korolev leading from the firm’s Kiev-based headquarters.