Businessweek

nance and Real Estate Finance. These are specialized commercial lending activities in which the company originates well-structured loans with an emphasis on achieving good risk adjusted returns. General Lending and Transaction Services: Lending is core to building and supporting client relationships in this segment’s target markets, with both corporate and financial institution clients. The company established the Transaction Services business line within this segment, bringing together all the basic transaction banking products under one umbrella with the objective of providing an integrated product offering to clients across Europe. The products include Payments & Cash Management, Trade Finance Services, Working Capital Solutions, Securities Services, Bank Mendes Gans, and Leasing and Factoring. FM: FM is the global business unit that manages the company’s FM trading and sales businesses within this segment. Bank Treasury, Real Estate, and Other: The Real Estate and Other division consists of the residual assets of the legacy businesses sold or discontinued within the former Real Estate Development and Real Estate Investment Management businesses, plus various General Lease operations, which have been placed in ‘run-off’. Insurance Benelux This segment’s life insurance products in the Benelux consist of a range of unit-linked, universal life, dedicated funds and variable annuity (VA) policies written for both individual and group customers. The VA product portfolio is managed by a team servicing business across Europe, servicing own and third-party distributors in Spain, Hungary, Italy, Belgium, and Luxembourg. The company provides (re-insured) company pension plans in the Netherlands. It also offers pension administration services under the AZL label and ‘Defined Contribution’ company pension solution ‘PPI’ in close cooperation with ING Investment Management and AZL. In the Closed Book business, NN Services operates a standardized processing and IT system for various legacy lines of retail Life businesses. NN Bank offers long-term savings and bank annuity products, and introduced own mortgage origination under the Hypotheker brand in 2012. This segment’s non-life products, primarily in the Netherlands, include coverage for both individual and commercial/group clients for fire, motor, disability, transport, and third party liability. Nationale-Nederlanden has also a central product manufacturing service for property and casualty insurance, which delivers products for ING Bank N.V. in Belgium and the Netherlands. The company offers a range of disability insurance products and complementary services for employers and self-employed professionals (such as dentists and general practitioners). Insurance Central and Rest of Europe This segment has Life Insurance and pension operations in nine countries — Poland, the Czech Republic, Slovakia, Hungary, Romania, Bulgaria, Greece, Spain, and Turkey. Together, these operations serve approximately 9 million clients throughout the region. This segment offers a range of customer value propositions and products, such as individual endowment, unit- linked, term and whole life insurance policies designed to meet specific customer needs. It also has employee benefits products, as well as pension funds, which manages individual retirement accounts for individuals. The latter comprise both mandatory and voluntary retirement savings. Remaining a Life Insurer and pension provider in the region is a primary goal towards building a sustainable growth engine, which means an engine geared for long-term success in the market. This motivates CRE to improve the customer experience, and deliver good value for money to customers, as well as meet compliance and risk requirements. Insurance United States (excluding the U.S. Closed Block VA) This segment was a premier retirement, investment, and insurance company serving the financial needs of approximately 13 million individual and institutional customers in the United States as of 31 December 2012. This segment operates its principal businesses through three business lines, such as Retirement Solutions, Investment