Supriya Ghosh (Editor)

Hanwha Life Insurance

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Type
  
Public

Predecessor
  
Korea Life Insurance

Headquarters
  
Seoul, South Korea

Parent organization
  
Hanwha

Traded as
  
KRX: 088350

Key people
  
Cha, Nam Gyu (CEO)

Founded
  
9 September 1946

Hanwha Life Insurance httpskmugcokrboarddatalogo1144151074wind

Products
  
Life Insurance, Health Insurance, Annuities

Revenue
  
US$ 9.5 bn (2013, 9months)

Stock price
  
088350 (KRX) ₩ 6,170 -110.00 (-1.75%)16 Mar, 1:33 PM GMT+9 - Disclaimer

Subsidiaries
  
Hanwha Damage Insurance

Hanwha Life Introduction

Hanwha Life Insurance Co., Ltd. (KRX: 088350) is the first life insurance company of Korea.

Contents

Founded on September 9, 1946, Hanwha Life Insurance Co., Ltd. is based on Hanwha finance center 63 in Yeouido, a landmark building of Seoul.

Korea Life Insurance, the former Hanwha Life Insurance, changed its name into Hanwha Life Insurance in October 2012.

Main commodities are protection type insurance including Whole Life Insurance and Critical Illness Insurance; savings type insurance including Annuity; and others. In addition, Hanwha Life Insurance serves individual asset management through trust commodities. It also sells retirement pension, accident and health insurance and group insurance to companies and has sales channels including individual agents (Financial Planner), Bancassurance through agencies of banks and an internet sales channel, Onsure (www.onsure.co.kr).

Hanwha Life Insurance is Korea’s second largest life insurance company with assets of 81 trillion won (as of November 2013), for which 28,000 financial planners and employees are working. As of January, 2014, 7 local headquarters, 65 regional offices and 605 branches are operating. (Based on individual agents)

Key Statistics (FY 2013)

  • Due to changes in accounting standards, 2013 financial result is produced on the basis of 9 months(2013.04.01~12.31)
  • Won-Dollar Exchange Rate 1 Dollar equals 1,045won (2013.12.31)
  • Assets under management US$59bn
  • EV US$8.2bn, ANW US$7.0bn, VIF US$1.2bn, VNB US$291mm
  • Credit rating AAA, Stable outlook from all 3 major rating agencies including Moody's and Fitch.
  • Return on Equity: 7.4%
  • RBC (Risk Based Capital) Ratio: 248.2% (before dividend distributed, required to maintain 150%)
  • FY'13 Dividend yield 1.8%, Payout ratio 28.2%.
  • Key institutional shareholders include Lazard Asset Management LLC 7.24% and BlackRock 1.06% as of 31 Dec 2013
  • Social Contribution

    "Teenagers" growing together : Making an investment in teenagers, which are driving force of the future generation, it has supported sound future of Korea.

    - Happy Friends teenagers service group, World Child Baduk Championship, employees/university students economic education program,

    building economy library, Hanwha Arts Plus

    "Life" protected together : Through life respect projects, suitable for the essence of a life insurance company, it has fulfilled respect and love for human.

    - ‘Healing camp’ for patients with chronic renal insufficiency, Mom’s Care service group, premature babies support project

    "Local community" living together : Building local communities where people grow together and enjoy living.

    - Hanwha Life Insurance support corps, one company for one village/urban-rural exchange program, emergency relief,

    caring for senior citizen who lives alone

    "Culture/Environment" harmonizing together : It has contributed to mental health and prosperity of culture through culture and art.

    - Seoul International Fireworks Festival, symphony festival, visiting concert

    Hanwha Brand

  • Founded in 1952 and headquartered in Seoul, South Korea.
  • One of Korea's top 10 business groups, ranked 321th in 2011 Fortune500
  • Focused on three business areas; Manufacturing&Construction, Finance, Service&Leisure
  • Over 53 domestic affiliates, 78 global network partners across Europe, Americas, China, Southeast Asia and the Middle East.
  • Total assets of USD 104.5 billion and total sales of USD 30.8 billion in 2012.
  • References

    Hanwha Life Insurance Wikipedia


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