Five insurers including Metlife Inc and AIA Group Ltd have submitted final offers to have their products distributed by Citigroup in Asia, a deal estimated to generate more than $10 billion in revenue over 15 years, people familiar with the matter told Reuters.British insurer Prudential Plc, Canada's Manulife Financial Corp and Hong Kong tycoon Richard Li's insurance company FWD Group are the other companies that have submitted final bids, they said.Global insurers are increasingly relying on bank distribution to ramp up insurance sales in Asia, where rises in personal incomes for many countries have enabled individuals and families to afford insurance.If successful, the Citigroup deal would be Asia's second-biggest bancassurance deal behind Prudential Plc's agreement with Standard Chartered Plc, people familiar with the matter said.
MetLife, Inc. (MetLife) is a provider of insurance, annuities and employee benefit programs, serving 90 million customers in over 50 countries. Shares of MET fell by 0.25% or $-0.13/share to $52.40. In the past year, the shares have traded as low as $31.79 and as high as $53.11. On average, 6163930 shares of MET exchange hands on a given day and today's volume is recorded at 3233483.
Manulife Financial Corporation (MFC) is a Canada-based financial services group with principal operations in Asia, Canada and the United States. Shares of MFC traded higher by 0.21% or $0.04/share to $19.22. In the past year, the shares have traded as low as $12.69 and as high as $19.45. On average, 1664630 shares of MFC exchange hands on a given day and today's volume is recorded at 1036906.
Manulife Financial Corporation (MFC) is a Canada-based financial services group with principal operations in Asia, Canada and the United States. Shares of MFC traded higher by 0.2% or $0.04/share to $20.40. In the past year, the shares have traded as low as $12.63 and as high as $20.50. On average, 2919850 shares of MFC.TO exchange hands on a given day and today's volume is recorded at 1333468.
Prudential plc (Prudential) is an international financial services group, with operations in Asia, the United States and the United Kingdom. Shares of PUK traded higher by 1.88% or $0.78/share to $42.23. In the past year, the shares have traded as low as $27.88 and as high as $42.35. On average, 105388 shares of PUK exchange hands on a given day and today's volume is recorded at 83594.
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