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Article: ING Life's Capital Increase Signals Resolve in Thai Market.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- May 15, 2004
CopyrightCOPYRIGHT 2004 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Charoen Kittikanya, Bangkok Post, Thailand Knight Ridder/Tribune Business News
May 15--ING Life (Thailand), a member of ING Group, the world's No. 1 life insurance firm, recently raised its capital base in Thailand by 300 million baht, in a bid to reaffirm its long-term commitment to the Thai market.
ING Life has boosted its registered capital to 2.025 billion baht from 1.7.25 billion as of the end of last year, while in March the group agreed to sell its equity operations in 10 Asian countries, including the 45 percent stake held in ING Securities (Thailand), to Australia-based Macquarie Bank.
"Not only in the insurance business, we ...