SCENARIOS-How will ING dispose of its insurance unit?

* EU-mandated sale due by 2013

* Management separating insurance and bank units

* Business is world's sixth-largest insurer

By Ben Berkowitz

AMSTERDAM, Nov 12 (Reuters) - Dutch bancassurer ING Groep (ING.AS) must sell its global insurance unit by the end of 2013, the consequence of its 10 billion euro ($15 billion) bailout from the government last year. [ID:nLQ54845]

Chief Executive Jan Hommen said on Wednesday it will lay the groundwork for an initial public offering (IPO) of the world's sixth-largest insurer and consider other options later. [ID:nLB95132]

Here are routes ING could take:

IPO

Hommen has made little secret of his preference for an IPO. When ING announced the split on Oct. 26, he praised the insurance business and said he would like to see it stay together as one company.