Hanwha Life Financial Service, First GA to Receive Credit Rating A+

Hanwha Life Financial Service announced on the 25th that it received an 'A+ (Stable)' rating from Korea Ratings. This is the first time in the GA (General Agency) industry.

Korea Ratings stated in its evaluation report, "Hanwha Life Financial Service holds a top-tier market position in the GA industry," and added, "Considering not only the GA industry but also the exclusive sales organizations of insurance companies, its market position remains top-tier."

It also noted, "The company achieved a net profit of 70.1 billion KRW last year, establishing an excellent financial structure within three years of its launch," and forecasted, "The positive earnings trend is expected to continue this year through stable profit generation."

Hanwha Life Financial Service was the first among large insurance companies to successfully implement the separation of manufacturing and sales in April 2021 (where the headquarters focuses on product development and subsidiaries handle sales, separating insurance product manufacturing and sales). Following a return to profitability last year, it paid its first dividend in its third year since establishment.

Additionally, it successfully issued overseas bonds worth 37 million USD (approximately 50 billion KRW), and in September last year, it received an investment of 100 billion KRW from Korea Investment Private Equity.