China CITIC Bank International and FWD Macau to Establish First Bancassurance Partnership in Macao

China CITIC Bank International Limited and FWD Macau held a launch ceremony announcing the establishment of a bancassurance partnership in Macao to provide a comprehensive suite of insurance products and services to the Bank’s customers, including high-net-worth (HNW) individuals, in Macao.

The partnership marks the first bancassurance collaboration between CNCBI and FWD in Macao. Driven by digital technology, FWD’s customer-led products and services with its innovative and easy-to-understand propositions, will offer CNCBI customers in Macao as well as visitors to the city a seamless insurance experience that is simpler, faster and smoother, helping customers to meet their diverse wealth management and legacy planning needs.

Helen Kan, Executive Director & Deputy Chief Executive Officer, Head of Personal & Business Banking Group, CNCBI, said: “We are excited to partner with FWD in Macao at a time of tremendous business opportunities brought forth by the fast-paced growth of the bancassurance market in Macao and the vigorous development of the Guangdong-Hong Kong-Macao Greater Bay Area. We are impressed by FWD’s creative strategy and innovative suite of product offerings. As customers’ daily lives resume  normal, they will reassess their insurance and protection needs with respect to wealth accumulation, preservation and legacy planning for future generation. This partnership will enrich CNCBI’s bancassurance offerings and create greater value for our customers.”

Ken Lau, FWD’s Managing Director for Greater China and Hong Kong CEO, said, “We are delighted to be CNCBI’s bancassurance partner and support the Bank’s efforts in bolstering its insurance distribution capabilities in Macao. Changing the way people feel about insurance remains the vision that guides our work. With this partnership, we will bring our innovative and digitally-enabled products combined with seamless customer experience to CNCBI customers, as well as visitors to Macao, to help them meet their diverse wealth management and legacy planning needs.”