AIA, Citibank team up to offer life insurance products
(VOV) - AIA Vietnam and Citibank NA Vietnam officially signed a strategic agreement in HCM City on May 9 to distribute life insurance services through the banking channel.
Pursuant to the agreement, Citibank will exclusively distribute AIA’s life insurance products in Vietnam – one of 11 major markets in the Asia-Pacific region under a regional strategic cooperation agreement unveiled by AIA and Citibank in December 2013.
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In Vietnam, AIA’s diverse products including group and individual life insurance products, will be introduced to Citibank’s clients through its distribution channels in an initial period of 15 years.
Citibank Vietnam's Consumer Business Manager Raul Paredes said that the deal is expected to meet the increasing demand of Vietnamese people by providing intelligently and creatively financial solutions.
AIA Vietnam CEO Stephen Clark said that such a cooperation model will help foster Vietnam’s life insurance market to benefit local people.