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It has more than mn customers in Europe, the US, Canada, Latin America, Asia and Australia, including individuals, families, Links of London businesses, large corporations, institutions and governments. ING is one of the largest financial institutions worldwide. Corporate Highlights In July , ING became the second largest player in Latin America’s pension fund and retirement businesses, after buying Spanish bank Santander’s pension businesses in Chile, Colombia, Mexico and Uruguay for EUR.bn. ING’s insurance business overall lost EURmn in Q due to bad investments. While the banking arm Links of London The Man On The Moon Charm a pretax profit of around EURmn, benefiting from the large numbers of investors keeping their money in cash while ING pays low interest, provisions for bad loans rose. Overall insurance sales fell by . yoy. The value of new business was down . ING blamed a mix of lower sales and margin pressure. ING reported that underlying pretax profits from its Latin American life insurance business rose EURmn in Q, up yoy, or . excluding currency effects. The insurer attributed results to improved equity market returns, lower integration and operating costs and improved fee income, although higher property and casualty claims in Brazil and the adverse impact of inflation in Chile weighed on results, ING’s earnings release said. Gross premium income from ING’s Latin American life units fell Links of London Duck Charm EURmn due to a decline in annuity sales in Chile, with operating expenses falling to EURmn thanks to cost cutting expenses. Insurance Europe premium income in was EUR.bn, down . New premiums were valued at EURmn, down from EURmn in . The company said its Insurance America division was hit by poor US results, which were affected by the downturn in markets. Premium income for the division fell . from to EUR.bn while the value of new life business there rose from EURmn to EURmn. The company’s review of operations for the year in Asia Pacific said that despite lower sales, Insurance Links of London Power Walk Charm Pacific maintained or improved market position. It said declining equity markets and weak economic conditions eroded demand for investmentlinked products.