ING reports loss of $1.1 billion for first quarter

ING Group NV reported a net loss of $1.1 billion for the first quarter, due in part to restructuring efforts and attempts to reduce risks, the company announced Wednesday.

It was the third consecutive quarterly loss for the parent company of ING USA Annuity and Life Insurance Co. of Des Moines.

The loss in the first quarter compares with a $2.1 billion gain in the same period a year ago, but is less than the $5 billion lost in the fourth quarter of 2008...

Des Moines Register: ING reports loss of $1.1 billion for first quarter