ING Insurance Asia/PacificING is one of the 20 largest financial structures in the world and among the top ten in Europe. A Dutch-founded company, ING offers a variety of product lines in the insurance sector. It offers insurance services in the Americas, Europe and Asian countries. ING also conducts retail and wholesale banking business around the world. 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 policies in the rest of the world. Asian life insurance policies include a savings aspect as well as the life insurance component. Jacques Kemp recently became CEO of ING Insurance's Asia/Pacific division and is looking to prepare his company for the future competition it will face. The Asia/Pacific market is a key opportunity for ING Insurance. There is huge economic growth in the Chinese and Indian markets, so they encourage a lot of investment in both countries. These investments came in the form of two joint ventures in China, one in India and a large stake in a major Indian bank, Vysya Bank. ING dominates markets in Australia/New Zealand, Taiwan, Malaysia, Hong Kong, Japan and Korea, as well as investing in smaller markets such as Singapore and the Philippines. ING is currently among the top five financial providers in the Asia/Pacific region and serves more than six million customers. Within the Asia/Pacific market, 900 different insurance companies operate across the twelve Eastern Pacific countries. The influence of companies varied in each country. This is also due to specific regulatory rules for each country. For example, Hong Kong was a country with few regulations, thus allowing for easier entry into the market while other countries had certain regulations in the areas of licensing, product styles, and pricing. However, the World Trade Organization (WTO) has been pushing for highly regulated markets to open up and become more accessible. Two positive factors of the Asia/Pacific market have come with the economic growth of Asian countries. The increase in per capita income has given way to a large customer base for ING and the several other insurance companies that have invested in the market. In particular, the life insurance market has given rise to great tax advantages that have made East Asian countries an ideal market to enter.