ING group announced that it will separate its banking and insurance operations, and divest its insurance operations by the end of 2013. Standard&Poor's reviewed the rating on ING Life Japan following the announcement, and lowered its financial strength and counterparty credit ratings on the company to 'A-' from 'A'. The outlook is negative, reflecting Standard&Poor's uncertainty about the sustainability of the insurer's in-force businesses' profitability, the degree of negative impact to its competitive position in COLI business, and the risk of weakening group support in the coming years. TOKYO (Standard&Poor's) Oct. 29, 2009--Standard&Poor's Ratings Services today lowered its financial strength and counterparty credit ratings on ING Life Insurance Co. Ltd. (ING Life
