The Belgian-Dutch banking-insurance group FORTIS has concluded a strategic partnership with its Chinese counterpart - CIIH - CHIN INSURANCE INTERNATIONAL HOLDINGS. Under the terms of the agreement, FORTIS will take over a 24.9% stake in TAI PING LIFE, the CIIH subsidiary, for the sum of $88 million. The remainder will be held by CIIH, and by its parent company up to 25.05%. FORTIS has, however, an option for increasing this stake to 49% by taking over the share held by CIC.