Insurance Asia/Pacific (continued)
Conclusions and ambitions
Faced with the challenging economic climate, Insurance Asia/Pacific's performance was negatively impacted. Despite these difficulties ING maintained or improved market positions across the region supported by its strong product portfolio and by expanding its distribution network.
In the year ahead, ING will continue to focus on maintaining its market share and managing for value rather than growth. In addition to initiatives for cost containment and repositioning of product portfolios, new measures to strengthen capital and risk management, as well as compliance are under way. Throughout the business line, efficiency will be increased through the standardisation of key operational processes.
The product portfolio is shifting to accommodate changing customer needs for more protection and capital guaranteed type offerings. ING's multi–distribution approach allows for diversification and flexibility to respond quickly to these changing needs. We will continue to strengthen the bancassurance model. These key priorities will position us well to capture the growth opportunities that Asia/Pacific offers.
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