Hanwha Life's Global Expansion Yields 170 Percent Profit Jump in Overseas Operations

Overseas subsidiaries now account for 14 percent of Hanwha Life's net profit in 2025, up from 5 percent in 2024. The insurer's overseas operations net profit jumped 170 percent, led by Velocity Clearing, which contributed 47 billion won ($31.7 million) of the total 118 billion won. These results follow a push into overseas markets led by president and chief global officer Kim Dong-won. Hanwha Life acquired a 40 percent stake in Indonesia's Nobu Bank, becoming the first Korean insurer to enter overseas banking, and completed the acquisition of US-based Velocity Clearing, the first takeover of a US securities firm by a Korean insurer.