Netherlands-based ING has decided to separate its global banking and insurance businesses as of April 1, Cornelia Coman, the head of ING's Hungarian unit, said at a press conference today.

The insurance business is expected to operate under the NN brand after that time, she added.

Hungarian news agency MTI said ING's revenue from premiums in Hungary was flat at HUF 74.7 bln last year, resulting in a 16.5% market share. Read the full story HUNGARY: ING separates banking, insurance businesses