ING, the Dutch banking and insurance group, reported its third consecutive quarterly loss on Wednesday, hit by unexpected insurance losses and rising loan loss provisions in banking.

The €793m ($1.1bn) quarterly net loss, compared with a €1.54bn profit a year ago, narrowed from the €3.7bn loss in the fourth quarter but missed analyst expectations. Shares in the group fell 6.4 per cent to €7.30 in early trading.