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The Dutch financial services firm ING Group said on Wednesday that it was planning an initial public offering of its European insurance business in 2014.    

ING Group NV (NYSE: ING) reported a strong rise in its first quarter net profit. ING's quarterly underlying net profit surged to 800 million euro, versus 579 million euro, in the year-ago period. Its net profit, after special items, climbed to 1,804 million euro, or 0.47 euro per share. ING shares closed at $8.59 yesterday.

The Dutch financial services firm ING Group said on Wednesday that it was planning an initial public offering of its European insurance business for 2014. ING, which raised around $1.3 billion last week by selling a stake in its American division, said net income in the first quarter more than doubled, to $2.4 billion. Read more »

Shares of the American arm of the Dutch financial services firm ING Group edged up in their trading debut on Thursday.