CITIBANK PLANS BANCASSURANCE GROWTH IN CHINA

CITIBANK is looking to bolster its position in the bancassurance market in China through its Citibank (China) subsidiary. The Shanghai-based operation has formed a partnership with Platinum United Metlife Insurance – formerly known as CitiInsurance Life Insurance –  to offer pension products. But it has now unveiled a new bancassurance project focusing on four areas: Citi Wealth Management, the Citi Junior Plan, the Citi Protection Solution, and the Citi Retirement Solution. Citibank (Hong Kong) already has a bancassurance partnership with Axa under which Citibank acts as an insurance agent for AXA China Region Insurance Company (Bermuda) Limited, distributing products to customers at all Citibank branches in Hong Kong.