Fubon Bank andChina Life Insurance (Overseas) have announced the official signing of a strategic partnership that would offer comprehensive wealth management services to clients.

According to the "Memorandum of Insurance Business Cooperation," both companies will enhance collaboration in the insurance business. Some of CLI's life insurance products will also be made available to Fubon's customers in Hong Kong. Fubon is the first Taiwanese bank to form such an alliance with CLI.

"Through our partnership with CLI (Overseas), we are committed towards providing more quality and diversified life insurance product choices and services to our customers, while expanding our customer franchise and increasing our market share concurrently," said Mr Richard Chen, the senior vice president and head of Wealth Management Group (Products) of Fubon Bank (Hong Kong), in a statement.

Fubon Bank operates 24 branches in Hong Kong, while CLI (Overseas) is one of the earliest and largest state-owned life insurance firms in Hong Kong and Macau. The co-operation officially begins in early November 2009.