ING Investment Management has revealed mandate wins with Dutch health insurer CZ and Monuta, a funeral and insurance company, worth nearly €1 billion.
ING IM will manage a €500 million government bond portfolio for CZ, which it said was one of the largest health insurers in the Netherlands. Yvo Boon, asset management manager at CZ, said ING IM's risk management and experience of actively managing government bond investments helped it succeed in the selection process.
For Monuta, ING IM will manage a €450 million portfolio of fixed income securities. The company will manage the investments through its insurance boutique department, which was set up to manage portfolios for insurers by complying with frameworks such as Solvency II. ING IM said Montae consultants assisted Monuta in the selection process.
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