ING Insurance Asia/PacificING is one of the 20 largest financial structures in the world and among the top ten in Europe. A company founded in the Netherlands, ING offers a variety of product lines in the insurance sector. It offers insurance services on the American continent, in Europe and in Asian countries. ING also offers retail and wholesale banking services worldwide. ING was the first European company to enter the life insurance market in countries such as Japan, Taiwan and South Korea. Life insurance policies in Asia are different from those in the rest of the world. Asian life insurance policies include a savings component as well as a life insurance component. Jacques Kemp recently became CEO of ING Insurance's Asia/Pacific division and is trying to prepare his company for the future competition it will face. The Asia/Pacific market represents a key opportunity for ING Insurance. The Chinese and Indian markets are experiencing enormous economic growth, thereby encouraging a lot of investment in both countries. These investments took the form of two joint ventures in China and one in India, as well as a large stake in a major Indian bank, Vysya Bank. ING dominates the markets of Australia/New Zealand, Taiwan, Malaysia, Hong Kong, Japan and Korea and also invests in smaller markets such as Singapore and the Philippines. ING currently ranks among the top five financial providers in the Asia/Pacific region, serving more than six million customers. In the Asia/Pacific market, 900 different insurance companies operate in the twelve Eastern Pacific countries. Corporate influence varied by country. This is also explained by regulatory rules specific to each country. For example, Hong Kong was a country with few regulations, making market entry easier, while other countries had some regulations in the areas of licensing, product styles, and pricing. However, the World Trade Organization (WTO) has pushed for highly regulated markets to open up and become more accessible. Two positive factors of the Asia/Pacific market came with the economic growth of Asian countries. The increase in income per household has given rise to a large customer base for ING and the various other insurance companies invested in the market. The life insurance market in particular has given way to significant tax advantages that have made East Asian countries an ideal market to enter..