Hanwha Life Financial Service, Ranked No.1 GA, Secures 100 Billion KRW Investment from Korea Investment PE

Corporate Value Reaches 900 Billion Won... Future IPO Plans Also Considered

Hanwha Life Financial Service, the No. 1 insurance sales agency (GA) in the industry, has secured an investment of 100 billion KRW from Korea Investment Private Equity. The company's valuation has nearly reached 1 trillion KRW just 2 years and 5 months after its launch.

On the 5th, Hanwha Life Financial Service, a sales subsidiary of Hanwha Life, announced that it had attracted this investment from Korea Investment PE.

Both parties valued Hanwha Life Financial Service's current equity at 800 billion KRW. Through this investment, Hanwha Life Financial Service's corporate value rose to 900 billion KRW. Since its launch in April 2021 with total capital of 650 billion KRW, the company's valuation has increased by 40% in 2 years and 5 months.

Korea Investment PE will hold an 11.1% stake in Hanwha Life Financial Service in the form of convertible preferred shares (CPS). The two companies plan to go beyond a simple financial investment relationship and pursue strategic collaboration between Hanwha Life and Korea Investment Financial Group.

Hanwha Life Financial Service expects that this investment will enable it to establish a sales-focused operational infrastructure and expand its organization, which it has continuously pursued since the separation of manufacturing and sales, thereby further strengthening its future growth potential. Furthermore, it plans to grow into a top-tier GA valued at 1 trillion KRW by next year and eventually pursue an initial public offering (IPO).

Yeoh Seung-joo, CEO of Hanwha Life, said, "We have found a partner who provides customer-centric total financial services beyond the walls of insurance and securities. For our insurance planners (FPs), this means customer satisfaction through new financial services, and for Korea Investment Financial Group, it means access to Hanwha Life's extensive sales channels. Through this strategic collaboration and investment attraction, we will create a new turning point in finance."

Lee Kang-haeng, Vice Chairman of Korea Investment Financial Group, stated, "By combining the financial experience each company has independently accumulated, we will be able to broaden the investment base for customers. We will strengthen a mutually practical and strategic cooperative relationship for the joint growth of both companies."

On the 5th, at the 63 Building in Yeouido, Yeongdeungpo-gu, Seoul, a 'Hanwha Life Financial Services Investment Attraction Contract Signing Ceremony' was held. Yeo Seung-joo, Vice Chairman and CEO of Hanwha Life (far left), Lee Kyung-geun, CEO of Hanwha Life Financial Services (second from left), Lee Kang-haeng, Vice Chairman of Korea Investment Financial Group (far right), and Kim Min-gyu, CEO of Korea Investment Private Equity, are posing for a commemorative photo. (Photo by Hanwha Life)

This content was produced with the assistance of AI translation services.