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NATIONALE-NEDERLANDEN GRANTED LICENSE IN CZECHOSLOVAKIA

 NATIONALE-NEDERLANDEN GRANTED LICENSE IN CZECHOSLOVAKIA
 THE HAGUE, The Netherlands, May 26 /PRNewswire/ -- The Ministry of Finance of the Republic of Czechoslovakia has granted Nationale- Nederlanden Life Insurance Company N.V. (N.N.) a license to sell life insurance policies in that country.
 As from June 1, sales of life insurance policies will start under the name "Nationale-Nederlanden zivotni pojistovna Ceskoslovensko." Nationale-Nederlanden is the first foreign insurance company to obtain a license to sell insurance in Czechoslovakia through a 100 percent participating interest.
 Last year Nationale-Nederlanden opened a representative office in Prague, which has made the preparations for the license, the product development and the formation of the sales organization. The company has offices in Prague, Pilsen, Budweis and Olomouc to market the insurance products. The number of sales offices will gradually be expanded. They will initially be focusing on the individual life insurance and pension market.
 Nationale-Nederlanden is the insurance arm of International Nederland Groep (ING Group), a world-wide financial services organization with U.S. $170 billion in assets. North American operations consist of 16 life, health and property and casualty companies in the United States and Canada.
 -0- 5/26/92
 /CONTACT: Hans van Ronkel of Nationale-Nederlanden, 011-31-70-358-1765/ CO: Nationale-Nederlanden Life Insurance Company ST: IN: INS SU:


EA-BR -- AT002 -- 3648 05/26/92 09:39 EDT
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Publication:PR Newswire
Date:May 26, 1992
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