Chubb teams with Citibanamex
Chubb Seguros México, an affiliate of Chubb Limited, has announced that it has signed a deal with Citibanamex, a subsidiary of Citigroup Inc., to provide range of non-life insurance products to Citibanamex’s consumer bank clients in Mexico.
The long-term deal will see Citibanamex distribute Chubb non-life insurance products through Citibanamex branches, as well as through its digital channels. Property and casualty (P/C) coverages for auto, home, individuals and small-to-medium enterprises (SMEs), accident and health (A&H) insurance products, and commercial P/C coverages for larger businesses will all be available to Citibanamex customers.
The companies have also signed a separate deal covering surety, with Chubb able to market these products to Citibanamex commercial customers. The consumer and small business products will be distributed under Chubb’s Mexican brand, ABA Productos. Distribution is expected in early 2019.
“In Citibanamex, Chubb gains a bancassurance partner that is a leader in its market, has excellent brand recognition, deep customer relationships, and a well-deserved reputation for high-quality products and services,” said Marcos Gunn, Division President, Northern Latin America and Chief Operating Officer of Latin America for Chubb.
“This agreement demonstrates Citibanamex’s strong commitment to providing our clients with access to top-quality products and services,” said Ernesto Torres Cantú, CEO of Citibanamex. “Chubb is an outstanding partner and we know that our clients will benefit from Chubb’s expertise, market-leading position and innovative products. The agreement is another example of the enhancements we continue to make across our Citibanamex franchise to better serve clients.”