ING Direct 2009 Annual Report Download - page 181

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38 NET RESULT ON DISPOSALS OF GROUP COMPANIES
Net result on disposals of group companies in 2009
2009
ING Australia and New Zealand 337
ING Canada –38
Annuity and Mortgage business in Chile –23
Other –12
264
Other relates to net result on disposals of minor group companies that are individually insignificant.
Net result on disposals of group companies in 2008
2008
ING Salud, Chile 55
Seguros ING, Mexico 182
NRG –15
ING Life Taiwan –214
Other 9
17
Reference is made to Note 30 ‘Companies acquired and companies disposed’ for more details.
39 COMMISSION INCOME
Gross fee and commission income
Banking operations Insurance operations Total
2009 2008 2007 2009 2008 2007 2009 2008 2007
Funds transfer 859 888 746 859 888 746
Securities business 780 891 1,049 780 891 1,049
Insurance broking 188 175 180 241 87 124 429 262 304
Asset management fees 584 934 1,140 1,874 2,129 2,025 2,458 3,063 3,165
Brokerage and advisory fees 317 256 233 582 763 1,014 899 1,019 1,247
Other 825 850 818 540 531 364 1,365 1,381 1,182
3,553 3,994 4,166 3,237 3,510 3,527 6,790 7,504 7,693
Asset management fees related to the management of investments held for the risk of policyholders of EUR 825 million (2008: EUR 1,174
million; 2007: EUR 1,261 million) are included in Commission income.
Other include commission fees of EUR 18 million (2008: EUR 21 million; 2007: EUR 26 million) in respect of underwriting syndication loans.
Fee and commission expenses
Banking operations Insurance operations Total
2009 2008 2007 2009 2008 2007 2009 2008 2007
Funds transfer 200 185 144 200 185 144
Securities business 159 268 370 159 268 370
Insurance broking –4 332 574 686 332 570 686
Management fees 24 169 230 241 217 182 265 386 412
Brokerage and advisory fees 43 5 5 496 573 673 539 578 678
Other 449 476 491 233 76 85 682 552 576
875 1,099 1,240 1,302 1,440 1,626 2,177 2,539 2,866
2.1 Consolidated annual accounts
ING Group Annual Report 2009 179
Notes to the consolidated profit and loss account of ING Group (continued)