Citi eyes in­sur­ers for Asian deals

New Straits Times - - Business -

SIN­GA­PORE: Cit­i­group Inc will seek bids from global in­sur­ers keen to sell in­sur­ance prod­ucts across the Amer­i­can bank’s Asia-Pa­cific mar­kets, in a deal that could be worth at least US$500 mil­lion (RM2.2 bil­lion). The mul­ti­year, ban­cas­sur­ance deal for prod­ucts such as mo­tor, prop­erty and travel in­sur­ance, will be one of the largest of its kind in the re­gion, and give in­sur­ers ac­cess to 15 mil­lion cus­tomers of Citibank in 12 mar­kets in­clud­ing Sin­ga­pore, Hong Kong, China, In­dia and Aus­tralia.

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