US-based life insurer MetLife has signed a 10-year distribution agreement with Citigroup to offer credit insurance products to the latter’s clients in 15 markets through 2025.
Under the new agreement, MetLife and its affiliates will serve as the underwriter or reinsurer of credit insurance products to Citi clients in 15 countries, 13 exclusively, across Asia, Europe, the Middle East, Africa and Latin America through 2025.
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According to MetLife, the products will be available to Citi retail bank and credit card clients in Australia, Argentina, Brazil, Bahrain, Czech Republic, Egypt, Greece, Indonesia, Malaysia, Philippines, Poland, Russia, Spain, Thailand and the UAE.
Citi global retail banking head and Asia Pacific consumer banking head, Jonathan Larsen, said: "This agreement enables us to provide enhanced value, products, and service to our clients while driving efficiency through a single, standard global product framework."
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