Hanwha Life, despite a decrease in performance, still indicates a leap forward through global expansion and digital innovation

Hanwha Life Insurance’s last year’s consolidated net profit for the period was 8.363 trillion KRW, a 3.4% decrease compared to the previous year. Although increased medical utilization led to a reduction in insurance gains and losses, this reflects a balanced performance across its subsidiaries. Analysts believe that, in addition to domestic businesses such as Hanwha Life Financial Services, Property & Casualty Insurance, Asset Management, and Securities, the performance of newly acquired overseas subsidiaries has also contributed to the overall results.

The company stated that while maintaining a core focus on protection-type insurance, it is also concentrating on improving product profitability. As a result, the annual new insurance contract margin reached 2.0663 trillion KRW, remaining above 2 trillion KRW for three consecutive years, with the year-end accumulated margin of in-force insurance contracts totaling 8.7137 trillion KRW. This is interpreted as a reflection of ongoing efforts to enhance product profitability.

Additionally, the number of financial planners at subsidiary insurance agencies increased by 5,918 year-over-year, reaching 36,923. This is expected to help expand the company’s operational capacity and strengthen customer service. A key indicator of financial soundness—the Korea Insurance Capital Standard ratio—remained at 157%, indicating stable financial management.

Hanwha Life Insurance CFO Yoon Jong-guk stated that the company plans to further enhance financial soundness by strengthening its investment portfolio centered on health insurance and long-term lifetime products, as well as refining the management system for expected versus actual insurance payouts. He also added that the company aims to expand future competitiveness through AI-based digital innovation and growth of overseas subsidiaries.

These changes are part of Hanwha Life Insurance’s mid- to long-term growth strategy, expected to strengthen its competitiveness in the future insurance market. Particularly, global expansion and digital innovation are anticipated to play key roles in future diversification of business and strengthening profit bases.