Hanwha Insurance Subsidiaries Upgraded to 'A+' by S&P Amid Improved Profitability and Stability

Hanwha Group's insurance subsidiaries have achieved a top-tier global credit rating.
On May 29, financial sources reported that Standard & Poor's (S&P), one of the world's three major credit rating agencies, upgraded the credit ratings of Hanwha Life and Hanwha General Insurance from 'A' to 'A+'. The rating outlook is classified as 'Stable.'
In its report, S&P stated, "Hanwha Life is expected to maintain a solid market position in the domestic market based on a stable business foundation and a broad sales network that includes Hanwha Life Financial Services. The company's sales strategy, centered on profitable protection insurance, is projected to enhance future profitability, as indicated by the insurance contract margin (CSM) showing growth potential."
S&P further noted, "The growth of premiums is ongoing, and the investment portfolio, primarily consisting of high-quality long-term bonds, is expected to remain stable. Profits generated by overseas subsidiaries in Indonesia and Vietnam accounted for approximately 19% of Hanwha Life's consolidated net income as of 2025, supporting its profitability."
A representative from Hanwha Life commented, "This recognition reflects the competitiveness of our core insurance business and the successful diversification strategy through global expansion and subsidiaries, which is translating into tangible profits. We will continue to strengthen our growth foundation based on stable financial health to enhance corporate value."
The upgrade for Hanwha General Insurance is attributed to the strengthened capital adequacy and stable profit generation capabilities across the Hanwha Financial Group. The strategic importance of achieving service synergies between life and non-life insurance has also been acknowledged.
A representative from Hanwha General Insurance stated, "Receiving the 'A+' rating officially recognizes our solid financial structure and profit-generating capacity on the global stage. We will strive to become a trusted insurance company for our customers through stable capital management."

* This article has been translated by AI.

Lee Seongjin