Established in 1946, Hanwha General Insurance is the first Korean insurance company to begin business solely funded by domestic capital. We have since grown into an insurer with USD 3.6 billion in direct premiums written and total assets of USD 9 billion. We have played a pivotal role in developing the domestic general insurance industry and strive to deliver a comprehensive product portfolio spanning from longterm insurance to auto and property insurance, using advanced services to enhance
We created a Consumer Protection charter, standardizing all job processes to allow us to provide better service to our customers. We developed detailed quality criteria for customer-centric management. To improve service quality and minimize customer inconvenience, we have significantly expanded the scope of call center tasks, establishing a one-call, one-stop system that empowers call center agents to support sales employee tasks. In addition, we were the first South Korean insurer to introduce an electronic signature system, making it easier for customers to complete transactions from their mobile devices. We have even introduced a mobile application called Smart Insu, catering to the ways and needs of our customer. More than 100,000 customers have installed the app.
Such diverse efforts to improve customer service have been recognized with the top three service quality awards by the South Korean government organizations: CCM certificate, Call Center Service KS Certificate, and the Certificate of Excellent Service Quality.
Our company is on an upward trajectory, building a risk-based management structure, improving long-term insurance loss ratio, advancing the compensation process, and increasing high yield, higher value-added contracts. We are also posting healthy financial growth by seeking alternative and diverse yet stable investments overseas. This helps us to maintain a risk-based capital at 172.8 percent in 2016.
Hanwha General Insurance is promoting a corporate culture that promotes continuous innovations and inspirational thinking from our employees to increase organizational efficiency and productivity.
Hanwha's businesses span chemicals & materials, aerospace & mechatronics, solar energy, finance,
leisure & lifestyle, and construction. Through the integration of our growing number of affiliate enterprises worldwide, we are harnessing the power of sustainable, quality growth to continually increase the value we bring to our customers.
- Hanwha Life Established in 1946, Hanwha Life is a leading life insurance company with the longest history in South Korea. Early on, we served in a critical role in the development of the insurance industry and the country’s economic growth – always with our customers in mind. In 2016, we grew in size but made sure we remained structurally sound, even as we reported total assets of USD 82.2 billion. At the end of 2015, our premium income stood at USD 13.22 billion, and we had achieved a 277 percent risk-based capital (RBC) ratio, which shows sound asset quality. We have also received a sterling AAA credit rating from South Korea’s top rating agencies for the past nine years.
- Hanwha Asset Management Founded in 1988, Hanwha Asset Management has grown into a comprehensive asset management company offering a full range of financial instruments, including stocks, bonds, MMFs, fund of funds, social overhead capital, derivatives, real estate, hedge funds, ETFs, and PEFs in both domestic and overseas capital markets. At the end of 2015, we were among South Korea’s top three asset management companies with USD 56.63 billion in assets under management (AUM). We have top-tier expertise and well-organized systems in all areas, including product development, research, compliance, and risk management. All our products and services cater to the needs of our customers because we put to practice our principle and management philosophy of placing our customers first before anything else.
- Hanwha Investment & Securities Established in 1962, Hanwha Investment & Securities is South Korea’s top-tier asset management service provider, offering a full spectrum of financial services and products, including brokerage and equities acquisition, bonds, and derivatives. Even in the midst of an ever-changing capital market, we are constantly enhancing customer value through customer and field-focused management.