ING's 14th IR Symposium: Managing risk for profitable growth
ING's 14th IR Symposium: Managing risk for profitable growth
ING's 14th IR Symposium: Managing risk for profitable growth
Amsterdam • 20 September
At ING’s 14th Investor Relations Symposium in London Michel Tilmant, Chief Executive Officer of ING Group, will outline how ING capitalises on the evolution of customers needs. As people become older and richer, customers need to save more to sustain themselves for a longer retirement. With its full spectrum of wealth management and retirement services products, its strong distribution reach, leading brand and broad customer base, ING is well positioned to capitalise on the evolution of customers needs and to continue to deliver profitable growth.
Risk management supports ING’s profitable growth strategy by contributing to product design, providing lower costs of risk and funding and more efficient capitalisation. Koos Timmermans, Chief Risk Officer of ING Group, will elaborate on ING’s well diversified risk profile and how risk management supports decision making by documenting the trade off between risk, return and growth opportunities.
ING has systematically invested to improve its risk management capabilities over the past years. Risk management is embedded in the way ING manages the business, from product development up to strategic decision making. Koos Timmermans will present ING’s Risk Dashboard, which shows the integrated risk profile of ING Group and will be audited and reported annually as of 2008. The Risk Dashboard identifies risk concentrations and potential risk mitigating actions. It allows the Executive Board to take strategic decisions using comparable risk measures and maximise value creation by efficient capital allocation. Koos Timmermans will also outline ING’s diversified liquidity structure.
ING’s risk profile is characterised by the diversification of our businesses and high quality assets. Peter Staal, General Manager of Corporate Credit Risk Management ING Group, will elaborate on ING’s approach to credit risk exposure and will reconfirm ING’s limited exposure to those asset classes that are currently under pressure.
As economic capital concepts gain acceptance from regulators and rating agencies, ING will benefit increasingly in the form of lower capital requirements. Under Basel II and Solvency II, regulatory capital requirements are moving closer into line with the sophisticated economic capital models used internally by ING. ING has been using economic capital internally in product development and return measurement to support management decisions. Tom Wilson, ING’s CRO Insurance, will outline ING Insurance economic capital model which will be part of ING’s Annual Report 2007.
Press enquiries: ING Group
Media Relations, +31 20 576 5000, media.relations@ing.com
ING is a global financial institution of Dutch origin offering banking, insurance and asset management to over 75 million private, corporate and institutional clients in over 50 countries. With a diverse workforce of about 120,000 people, ING comprises a broad spectrum of prominent companies that increasingly serve their clients under the ING brand.