CITIC and Manulife extend bancassurance partnership

CITIC Bank International and Manulife Hong Kong have renewed their bancassurance partnership for another 10 years.

Under the terms of the agreement which has been in place since 2005, CITIC will continue to distribute a range of Manulife products, including protection, savings and investment-linked insurance plans.

Doreen Chan, CITIC CEO said: "We are pleased to continue the bancassurance partnership with Manulife after six years of success which stemmed from both institutions sharing the common goal of providing professional services and exceptional value to customers."

Michael Huddart, Manulife’s executive vice president and CEO said: "This is an exciting development and will create a win-win-win situation for both institutions, and more importantly, for our customers."