Asian insurer AIA Group sealed a multi-billion dollar deal with New York-based Citi in December to distribute its policies across the region.
AIA, which separated fully from bailed-out AIG in 2012, now has exclusive rights to distribute insurance products via its branch network in 11 Asia-Pacific markets to Citi’s corporate clients as well as to about 13 million retail cardholders and banking customers.
The deal turbo-charged AIA's strategy of deepening its bancassurance partnerships. Even though it had 120 bancassurance relationships as of May 2010, many were not exclusive, such as its tie-up with ICBC in China.
SNL's infographic shows how...