Products & Services > Affiliates > 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.
For more information, please visit:
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 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.
- 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 2017, we were among South Korea’s top three asset management companies with USD 82.17 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 apply our principles and management philosophy to placing our customers first before anything else.
- 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. With our differentiated systems and high-quality talent, we have successfully established ourselves as a reliable asset management partner. Our financial products and customer-oriented services are offered domestically and overseas.