(Hong Kong, 17 November 2010) Citibank (Hong Kong) Limited ("Citibank") and The Prudential Assurance Company Limited, Hong Kong Branch ("Prudential Hong Kong") are pleased to announce that they have entered into a partnership agreement to form a new bancassurance platform.
Under the agreement, Citibank will act as the general insurance agent for Prudential Hong Kong to offer a comprehensive general insurance product line including personal accident & health protection, and property & leisure insurance.
The platform will provide Citibank customers with convenient access to a wide array of protection solutions in 43 Citibank branches across Hong Kong, or via phone and online. The initial product set, the WeCare Health Series, is designed to serve customers' health care protection needs.
Mr. Simon Chow, Deputy Country Business Manager, Citibank Global Consumer Group says, "Citibank is expanding its branch network to increase its service points in the territory, with an aim to provide one-stop full banking services to the emerging affluent customer segments. Citibank and Prudential Hong Kong are both committed to delivering innovative, quality products and services to better serve Citibank customers, and we look forward to a mutually rewarding relationship."
"Prudential Hong Kong has been focusing on developing high quality, customer-centric products. The strategic partnership with Citibank marks an important milestone for Prudential Hong Kong's multi-channel distribution strategy. We believe this partnership promises to leverage the strength of both partners as we seek to serve Citibank customers and their growing needs for financial security," said Mr. Derek Yung, Chief Executive Officer of Prudential Hong Kong.
The WeCare - Hospital Insurance Plan, a reimbursement type medical insurance product, is the first to be offered to Citibank customers under this new agreement. It provides guaranteed renewal for whole life, and is available to customers aged 15 days to 64 years old (attained age). During the promotional period from 15 November 2010 - 30 April 2011, a HK$400 credit card spending allowance and a set of Prudential Hong Kong's limited edition stamps will be offered to every successful application.
For more information about the new product and promotion, please call 24-hour insurance hotline 2860 0222 or visit Citibank branches.
Special note to the editor:
Prudential plc (英國保誠集團), was established in the United Kingdom in 1848 and is headquartered in London. With its affiliated companies in the UK, the US and Asia, it constitutes one of the world's leading financial services groups.
Prudential plc is not affiliated or related in any manner with Prudential Financial, Inc. (保德信金融集團), a company whose principal place of business is in the United States.
You and your reporters are cordially reminded to clearly differentiate between the two companies in your news reporting.
Mr. Simon Chow, Deputy Country Business Manager, Citibank Global Consumer Group (fourth right), Mr. Derek Yung, Chief Executive Officer, Prudential Hong Kong (seventh right) and management teams from both partners celebrated the partnership at the signing ceremony.
For enquiries, please contact:
Jenny Auw Yong
Senior Manager - Corporate Communications
The Prudential Assurance Company Limited
+852 2977 3722
+852 2977 1116
Assistant Manager - Corporate Communications
+852 2977 8462
+852 2977 1209
Prudential Corporation Asia
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