Prudential hires Bank of America for potential bid for ING

13th Feb 2012 16:27

Prudential Financial, the second largest life insurer in the US, has hired Bank of America as an advisor to a potential offer for ING's Asian insurance unit.Korea Economic Daily reported that local insurance company Korea Life Insurance is also considering an offer for all of ING's Asian insurance assets.Shares of ING were up 2.82% in mid-afternoon trade, while Prudential was down 1.89%.N.A.