An expat sent from Amsterdam shall be the new CEO of ING Life Insurance
After Bram BOON's transfer to Greece, the new CEO of ING Life Insurance shall be another expat, sent from Amsterdam, as stated by sources from the insurance market for the specialized portal www.1asig.ro . Thus, Cornelia COMAN, the current interim CEO, shall soon be replaced by a foreign manager, assigned by the ING headquarters to run the insurance operations from Romania. The new expat to manage ING Life Insurance shall also be the President of the Board of Directors for ING Pension Fund, a position previously held by Bram BOON.
The sources stated that ING did not agree with turning the interim position held by Cornelia COMAN into a permanent one, and they also ruled out the possibility to recruit another manager from the local market for this position, although former CEO Bram BOON made the proposal to compete for this position to at least one other top manager from the market.
When contacted for comments, the ING Life Insurance officials stated they shall release communications about this "as soon as we have more concrete information".
Bram BOON, former head of ING Life Insurance, was recently transferred by the ING Group to run the insurance operations in Greece. The interim position is held, for now, by Cornelia COMAN, the company's former vice-CEO. ING is leader on the local markets of life insurance and private pensions (mandatory and voluntary).
ING ranks first in life insurance, with a 30.5% market share (for this year's first quarter, compared to 34.7% in 2007). For mandatory pension, ING Pension Fund has a share of almost 40% from the EUR 80 million worth of assets at the end of July and 33.2% from the total number of participants; as for voluntary pensions, ING Life Insurance has recently become number one both in terms of customers and net assets, with a 33.8% market share based on net assets and a 40% share based on the number of participants.
