China CITIC Bank International Limited (CNCBI) and FWD Hong Kong (FWD) have announced a groundbreaking bancassurance partnership in Macao, marking the first collaboration of its kind between the two entities in the region.
The partnership will provide a diverse range of insurance products and services to CNCBI’s customers, including high-net-worth individuals.
FWD’s innovative, customer-led insurance services, made straightforward by digital technology, will cater to CNCBI’s clients and visitors in Macao.
The partnership aims to deliver a more streamlined, efficient, and intuitive insurance experience that meets customers’ varying wealth management and legacy planning needs.
“We are thrilled to partner with FWD in Macao, seizing the significant business opportunities emerging from the rapid growth of the bancassurance market in the area,” said Helen Kan, CNCBI’s Executive Director & Deputy CEO, Head of Personal & Business Banking Group.
She commended FWD’s innovative strategy and product suite, adding that the partnership would enrich CNCBI’s bancassurance offerings and create more value for its customers.
Echoing this sentiment, Ken Lau, FWD’s Managing Director for Greater China and Hong Kong CEO, said, “Our mission remains to change how people perceive insurance. Through this partnership, we will deliver our innovative and digitally-enhanced products and impeccable customer experience to CNCBI customers, assisting them in meeting their diverse wealth management and legacy planning needs.”
CNCBI, a significant offshore platform of CITIC Group’s commercial banking business, has a strong presence in Greater China, including branches in Hong Kong, Beijing, Shanghai, Shenzhen, and Macao, and overseas branches in New York, Los Angeles, and Singapore.
FWD, a rapidly expanding pan-Asian life insurer, has a strong presence in the Asian market, including Hong Kong and Macao. As a leading life insurer in Hong Kong and Macao, FWD is committed to making the insurance journey simpler, faster, and smoother, aligning with its vision of changing the way people feel about insurance.