--FILE - Ein Kunde gibt eine Filiale der Citibank Citigroup Inc. in Shanghai, China, 7. Dezember 2012. Citigroup Inc. entschieden, AIA Group Ltd. li zu verkaufen
--FILE--A customer enters a branch of Citibank of Citigroup Inc. in Shanghai, China, 7 December 2012. Citigroup Inc. chose AIA Group Ltd. to sell life insurance through its branch network in 11 Asia-Pacific countries as the U.S. bank slashes the number of insurers it partners with in the region. The exclusive 15-year agreement allows AIA, the Asia-Pacific regions third-biggest insurer by market value, to sell products to the U.S. banks customers in countries from China to Australia, Citigroup and AIA said in separate statements. The partnerships will be set up in each territory next year, Hong Kong-based AIA said. The deal gives AIA access to holders of more than 34 million individual accounts as New York-based Citigroup replaces about 150 separate agreements across the region. While no financial details were disclosed, a person familiar with the sale told Bloomberg this month the agreement could generate as much as $20 billion in revenue, including commissions and upfront fees. The 11 markets covered by the partnership are China, Hong Kong, India, Australia, Korea, Malaysia, Indonesia, Singapore, Thailand, the Philippines and Vietnam, the companies said.
