Products & Services > Affiliates > Hanwha General Insurance
Hanwha General Insurance
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 nearly USD 11 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 empowered 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 a mobile application called Smart Insu, catering to the ways and needs of our customer. More than 100,000 customers have installed the app.
Our 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 posting healthy financial growth by seeking diverse and stable overseas and alternative investments.
As a result, we have been recognized for financial stability and growth potential, earning an A-credit rating from A.M. Best, the international insurance industry rating organization and an AA- in South Korea, based on settlement capability.
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 and also the oldest in South Korea. Early on, we played a critical role in developing the insurance industry and the country's economic growth—always with our customers in mind.
- 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, ETFs, and PEFs in both domestic and overseas capital markets. At the end of 2016, we were among South Korea's top two asset management companies with USD 71.49 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 into practice our principle and management philosophy of placing our customers first before anything else. Hanwha Asset Management is accelerating its strategic overseas expansion to become a leading asset management company in Asia. Our Singapore subsidiary manages equity and alternative investments in the pan-Asian market. We acquired a New York-based subsidiary to handle assets of the US and other advanced countries. We have also established a Chinese subsidiary as a wholly foreign-owned enterprise (WFOE) to expand our overseas business footprint as we pursue a global strategy.
- Hanwha Investment & Securities Established in 1962, Hanwha Investment & Securities provides comprehensive asset management services, including brokerage and acquisition of stocks, bonds, and derivatives, as well as sales and asset management services for various financial products. To date, we have successfully established ourselves as a reliable asset management partner in the ever-changing capital market by providing various domestic and overseas financial products and customer-oriented services.