The ratings on ING Life Insurance Co. Ltd. are based on the company's very strong capitalization, sound balance sheet structure, and its strategic importance within the ING Group. Moderating factors include a drop in new business in ING Life's core market, and increasing industry competition amid the entrenched downturn in the domestic economy. Strategic importance. The ING Group, a global financial services conglomerate, is committed to supporting the position and growth of ING Life in the Japanese market. Japan is considered to be one of the most important markets for the group's insurance business, particularly given the large potential for asset accumulation type business. Deteriorated new business in ING Life's core market. While maintaining a strong presence in the small
