Financial services group ING is to merge all its insurance operations under the Nationale Nederlanden flag, meaning long-established names such as RVS will disappear.
The reorganisation will cost 800 jobs over the next three years but ING said it hopes to largely avoid compulsory redundancies.
The decision to unify the insurance operations is part of ING’s strategy to simplify the company, cut costs and better target customers, the bank said in a statement.
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