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Hanwha General Insurance

Hanwha General Insurance

Hanwha General Insurance is a major insurer with USD 17.9 billion in total assets. We are internationally recognized for our financial stability and steady growth using diversified asset management strategies and increasing customer value.

Established in 1946, Hanwha General Insurance is the first South Korean insurance company funded solely by domestic capital. Throughout history, we’ve played a pivotal role in developing South Korea’s general insurance industry. Today, we’re a major insurer with total assets of USD 17.9 billion. We use advanced services to enhance customer value and offer a comprehensive product portfolio ranging from long-term insurance to auto and general insurance.

We created a Consumer Protection charter, improved service quality, and minimized customer inconvenience to provide an overall superior customer experience. We also expanded the scope of what our call center agents could do to ensure a one-call, one-stop system. 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 mobile applications for long-term insurance, Smart Insu, and an app for auto insurance, Smart Chadori. Both were specifically designed to cater to the needs of our customers. Since then, more than one million customers have installed both applications.

Our efforts to improve customer service have been recognized by South Korean government organizations with the Consumer Centered Management (CCM) certificate. Our customer service is evaluated by the Korea Consumer Agency and certified by the Fair Trade Commission every two years. Biennially, for the last 12 years, we’ve been given the certificate, affirming the excellence of our customer-centric services.

Our company is on an upward trajectory to build a risk-based management structure, improve long-term insurance loss ratio, advance the compensation process, and increase high yield, higher-value-added contracts. We are posting healthy financial growth by seeking diverse, stable bonds and alternative investments at home and abroad.

As a result, in 2019 we were favorably scored by global credit rating agencies for our financial stability and growth potential. Both S&P and A.M. Best, the international insurance industry rating organization gave us a rating of A for our financial strength and potential growth last year.

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Hanwha's businesses span aerospace, ocean & mechatronics, materials, green energy, finance, retail & services. 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.

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