LONDON (Standard&Poor's) June 14, 2002--Standard&Poor's said today it affirmed its double-'A'-plus counterparty credit and insurer financial strength ratings on ING Re (Netherlands) N.V. (ING Re Netherlands) following its annual review of the company. The outlook is negative. "The affirmation reflects Standard&Poor's opinion that ING Re Netherlands is a core operating entity of the ING insurance group," said Simon Marshall, an associate director at Standard&Poor's Financial Services Group in London. ING Re Netherlands, a wholly owned subsidiary of ING Verzekeringen N.V. (INGV; AA-/Negative/A-1+), is considered by Standard&Poor's to be a key operating entity of ING Corporate Reinsurance, a business unit formed in December 2001 to focus on intragroup reinsurance and run-off
