Hanwha Life Wins Best Insurance Capital Bond of 2018 at The Asset Triple A Regional Awards
- Hanwha Life is recognized for its hybrid securities issuances – the largest by a Korean insurer and for having the lowest spread in Asia since 2008
[March 21, 2019] Hanwha Life was recognized as one of Asias best bond issuers at the annual Triple A Regional Awards by The Asset, a business news magazine. The company received the award for “Best insurance capital bond” of 2018 in recognition for a landmark billion-dollar bond issuance it made in April of 2018.
The offering was the largest issuance of hybrid securities ever made by a Korean insurer. It was also admired for only having a spread of 200 basis points, that according to The Asset, was “the lowest among all US dollar-denominated hybrids since the 2008 global financial crisis.” Hanwha Lifes achievement with the bond issuance was significant enough that they were recognized at the Asia-wide Triple A Regional Awards, a step up from the local Triple A Country Awards.
“The bond issuance was made at a challenging time amidst rising market rates and other issues,” said a spokesperson for Hanwha Life. “However, demand far exceeded availability and most of the bonds were purchased by major global investors.”
The Asset is a Hong Kong-based publication that offers independent insight into the Asian financial industry in both print and digital form. Since 2007, The Asset has annually handed out its Triple A Awards to recognize significant achievements in the Asian financial industry.
Established in 1946, Hanwha Life is a leading life insurance company that is both the first and the oldest in South Korea. Early on, we played a critical role in developing the insurance industry and the country’s economic growth.
In 2017, we expanded but made sure to stay structurally sound. We reported total assets of USD 102.96 billion. At the end of 2017, we achieved a 206.4 percent risk-based capital (RBC) ratio, demonstrating the soundness of our asset quality. Our strong credit ratings from both domestic agencies and abroad attest to our creditworthiness. We have received sterling AAA credit ratings from South Korea’s top rating agencies for the past eleven years. From abroad, we received global credit ratings of A1 from Moody's and A+ from Pitch international credit rating agencies.
For more information, please visit: www.hanwhalife.com/en
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