ING Group would achieve its goal of joining the top 10 in the U.S. insurance market with its planned purchase of Aetna's financial services and international businesses for $5 billion in cash and $2.7 billion in assumed debt.

The acquisition would make ING No. 1 in the U.S. in life and annuity premiums. The sale of the Aetna lines had long been rumored, stoked by a failed joint bid for them by ING and Wellpoint Health Networks earlier this year.

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