Hanwha Life Insurance
||The topic of this article may not meet Wikipedia's notability guidelines for companies and organizations. (October 2013)|
|Traded as||KRX: 088350|
|Predecessor||Korea Life Insurance|
|Founded||September 9, 1946|
|Headquarters||Hanwha Life 63 building, Yeouido, Seoul, South Korea|
|Cha, Nam Gyu (CEO)|
|Products||Life Insurance, Health Insurance, Annuities|
|Revenue||US$ 9.5 bn (2013, 9months)|
|US$ 372 mn (2013, 9months)|
|Total assets||US$ 78.5 bn (2013, Dec)|
Hanwha Life Introduction
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
“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
- 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.[better source needed]
- Total assets of USD 104.5 billion and total sales of USD 30.8 billion in 2012.
- "Financial Supervisory Service of Korea". .FSS Corporate Filings. Retrieved 2013-10-23.
- "Institutional shareholders by Reuters". .Thomson Reuters. Retrieved 2013-10-23.
- "Hanwha Group Annual Report 2012". .Hanwha Group. Retrieved 2013-10-23.
- "Fortune Global 500". .Fortune. Retrieved 2013-10-23.
- "FY'12 Deloitte Report" (PDF). .Deloitte Audit. Retrieved 2013-10-23.
- "Financial Statistics Information System by FSS". .Financial Supervisory Service. Retrieved 2013-10-23.
- Official website (Korean)