Dutch bancassurer, ING has deferred the launch of a stock market flotation for its insurance operations due to unreceptive markets.

Reuters has reported that ING’s plan for two separate initial public offerings in the US and Europe and Asia will continue.

ING chief executive Jan Hommen said the launch may take place in future and confirmed possible trade sales of its insurance operations.

The Dutch bank said, due to "increasing regulatory requirements" and plans to repay in full the Dutch state aid by May 2012, it would not pay an interim dividend for 2011.

ING has to repay EUR4.5bn to the state that includes the final amount plus a 50% premium.

European Commission regulators have insisted ING to dispose its EUR19bn ($27bn) insurance business by the end of 2013.

Dutch insurer Delta Lloyd had expressed interest in ING’s Belgian insurance operations, according to Reuters.