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Cornelia Coman, head of ING Groep N.V.'s Hungarian unit, said that the Netherlands-based group has decided to segregate its insurance and banking operations from April 1, Budapest Business Journal reports.
Ms. Coman said that the insurance business is likely to operate under the firm's NN brand following the segregation.
Hungary's MTI news agency said that the firm's revenue from premiums in the country totaled 74.7 billion Hungarian forints ($274 million) in 2014.