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Fubon Life Insurance Co., Ltd. (Fubon Life) from Taiwan announced today (April 18) that its wholly owned subsidiary, Fubon Life Insurance (Hong Kong) Company Limited (Fubon Life Hong Kong), has officially opened in Hong Kong.
Fubon Life offers a comprehensive range of financial insurance and related services through its agency team, banks and diversified sales channels. It aims to become the leading life insurance company in Asia and the opening of Fubon Life Hong Kong is an important step in reaching this goal, according to the Chairman of Fubon Life, Mr Cheng Pen-yuan.
The Chief Executive Officer of Fubon Life Hong Kong, Mr Jerry Chou, said that the insurance market in Hong Kong has a well-developed regulatory system that facilitates the solid and steady growth of the industry. Leveraging on the professionalism of the local team and with ample support from its parent company, Fubon Life Hong Kong will offer competitive insurance products to satisfy the needs of the local market.
"While the life insurance market in Hong Kong is well developed and highly competitive, it still has great potential for further growth. According to the Office of the Commissioner of Insurance, insurance premiums grew by a double-digit percentage in 2015 compared to the previous year, indicating the potential for growth in this market segment," said Mr Chou.
The Associate Director-General of Investment Promotion Mr Charles Ng said, "By setting up in Hong Kong, overseas companies can gain access to a huge number of high net-worth individuals who are looking for quality insurance services in the region. It is the ideal place for financial companies to set up or expand in the region."
About Fubon Life Hong Kong
Fubon Life Hong Kong was incorporated in Hong Kong in July 2015 and operates under the Fubon Life brand. The company is a wholly owned subsidiary of Fubon Life, which is the second largest life insurance company in Taiwan. It provides comprehensive life insurance products through bancassurance, strategic partnership and a diverse sales network. For more information, please visit www.fubonlife.com.hk.
About Invest Hong Kong
Invest Hong Kong (InvestHK) is the department of the Hong Kong Special Administrative Region Government established in July 2000 to attract foreign direct investment and support overseas and Mainland businesses to set up or expand in Hong Kong. It provides free advice and customised services to help businesses succeed in Hong Kong's vibrant economy. As of December 2015, InvestHK had assisted over 3 820 companies which have created more than 41 200 new jobs in the first year of operation or expansion and over HK$101 billion of investment. For more information, please visit: www.investhk.gov.hk.
For event photo, please visit www.flickr.com/photos/investhk/albums/72157667166481845.
Ends/Monday, April 18, 2016
Issued at HKT 17:00
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