Citi sells insurance distribution rights to AIA

Citi has sold the exclusive rights to sell products through its regional network to AIA in 11 markets across the Asia-Pacific region in the largest bancassurance agreement ever signed in Asia.

Citi sells insurance distribution rights to AIA
Citi has agreed to sell the right to distribute insurance products through its branch network to Hong Kong-headquartered AIA Group in 11 markets across the Asia-Pacific region, it said Thursday.

AIA paid Citi an upfront fee of over $1 billion for the distribution rights and the US bank is likely to garner billions of dollars from its share of commissions from the partnership, which is valid for 15 years, according to a...

FinanceAsia has updated its subscription model. Registered readers now have the opportunity to read five articles from our award-winning website for free. Please subscribe for unlimited access.

Click for more on: insurance | fig | acquisitions | asia | citigroup | aia

Print Edition

FinanceAsia Print Edition

EVENTS