INSURANCE COMMISSIONER
| In the Matter of the Acquisition of NORTHERN LIFE INSURANCE COMPANY. | )))) | No. G 2000-27 AMENDED NOTICE OF HEARING |
| TO: | William D. Torchiana |
125 Broad Street
New York, New York 10004-2498
B. Scott Burton
Sr. Vice President & Chief Counsel
ING Americas
5780 Powers Ferry Road, N.W.
Atlanta, Georgia 30327-4390
Richard Crowl, Sr. Vice President
ReliaStar Financial Corporation
20 Washington Avenue South
Minneapolis, Minnesota 55401
William D. Fritts, Jr., Vice President
ReliaStar Financial Corporation
20 Washington Avenue South
Minneapolis, Minnesota 55401
Northern Life Insurance Company (Northern) is a domestic
Washington insurance company. It is a subsidiary of ReliaStar
Life Insurance Company. The ultimate controlling person of
Northern is ReliaStar Financial Corporation.
ING Groep N.V. has announced its intention to acquire ReliaStar
Financial Corporation, including Northern. The applicant is
headquartered in Amsterdam, The Netherlands. The United States
based operations of the applicant are under the direction of ING
America Insurance Holdings, Inc. A number of insurance companies
whose ultimate controlling person is ING Groep N.V. have been
issued Washington certificates of authority.
The acquisition of a domestic Washington insurance company is
controlled by Chapter 48.31B RCW. Pursuant to RCW 48.31B.015 and
WAC 284-18-910, a Form "A" submission was made by the applicant
on May 25, 2000. A determination that a Form "A" is complete
begins the 60 day period within which the Insurance Commissioner
must hold a hearing and decide whether to approve the change of
control of the company.
YOU ARE HEREBY NOTIFIED that a hearing is scheduled to be held
commencing at 1:00 p.m. on Monday, July 24, 2000, in the
Conference Room of the Insurance Commissioner's Offices at 420
Golf Club Road, Suite 102, Lacey, Washington 98503, to consider
the proposed acquisition of Northern.
The hearing will be held under the authority granted the
Commissioner by Chapter 48.04 RCW and RCW 48.31B.015. RCW 48.31B.015 lists the findings which must be made before approval
can be given to any proposed acquisition of control over a
Washington domestic insurer.
The basic facts relied upon are those set forth in the Form "A"
filed with the Commissioner. The complete Form "A" will be made
part of the record of the hearing.
The Commissioner has not taken, and will not take, any position
on this matter prior to entry of the hearing order.
All parties may be represented at the hearing. They may examine
witnesses and fully respond and present evidence and argument on
all issues involved, as required by the Administrative Procedure
Act. The hearing will be governed by the Administrative
Procedure Act, Chapter 34.05 RCW, and the model rules of
procedure contained in Chapter 10-08 WAC. A party who fails to
attend or participate in any stage of the proceeding may be held
in default in accordance with Chapter 34.05 RCW.
The Commissioner will be represented by James E. Tompkins,
Assistant Deputy Commissioner, Dennis Julnes, Chief Financial
Analyst, and Chase Davis, Financial Analyst.
Assistant Deputy Commissioner John B. Woodall has been designated
to hear and determine this matter. His address is Office of the
Insurance Commissioner, Post Office Box 40259, Olympia,
Washington 98504-0259. His telephone number is (360) 407-0535.
ENTERED AT OLYMPIA, WASHINGTON, this 21st day of June, 2000.
| DEBORAH SENN Insurance Commissioner |
|
| By: | |
| JOHN B. WOODALL Assistant Deputy Commissioner for Company Supervision |