ING Direct 2009 Annual Report Download - page 234
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ING Insurance
Largest economic exposures: ING Insurance portfolio, by country (1) (2)
amounts in billions of euros
Insurance Americas Insurance Europe Insurance Asia/Pacific Total ING Insurance
2009 2008 2009 2008 2009 2008 2009 2008
United States 54.3 58.6 2.4 2.0 1.2 1.1 57.9 61.7
Netherlands 2.6 0.8 14.7 14.6 0.2 0.2 17.5 15.6
France 0.3 0.3 8.1 6.8 0.1 0.1 8.5 7.2
South Korea 0.1 0.1 7.4 6.2 7.5 6.3
Germany 0.2 0.3 6.0 5.3 0.1 0.1 6.3 5.7
Italy 0.3 0.3 5.0 5.9 0.2 5.3 6.4
United Kingdom 1.4 1.8 3.2 3.5 0.3 0.4 4.9 5.7
Japan 0.2 0.4 0.1 4.3 4.5 4.6 4.9
(1) Only covers total exposures in excess of EUR 4 billion, including intercompany exposure with ING Bank.
(2) Country is based on the country of residence of the obligor.
The declining portfolio in the United States is primarily the result of the currency depreciation of the US dollar against the Euro,
impairments and the Alt-A transaction with the Dutch government. The portfolio in the Netherlands increased due to the IABF Receivable.
There were no other significant shifts in the portfolio concentration.
Risk management (continued)
2.1 Consolidated annual accounts
ING Group Annual Report 2009
232