Hanwha Life Financial turns profitable, pays dividends

2024.04.02 09:23:35

[Courtesy of Hanwha Life Insurance Co.]이미지 확대

[Courtesy of Hanwha Life Insurance Co.]

Hanwha Life Financial Service Co., a sales subsidiary of South Korea’s Hanwha Life Insurance Co., announced on Monday that it paid its first dividend at the end of March 2024 after turning profitable in 2023.

Hanwha Life Financial Service distributed approximately 1.5 billion won ($1.1 million) to Korea Investment Private Equity Co., which holds an 11.1 percent stake in the company.

“The investment market‘s expectation of a possible initial public offering (IPO) moving forward has also increased,” Hanwha Life said.

Hanwha Life Financial Service is a corporate insurance agency (GA) that was launched in March 2021 as a subsidiary of Hanwha Life’s sales organization. Its revenue grew to 1.56 trillion won in 2023 from 328 billion won in 2021, and it turned a profit of 68.9 billion won from a loss of 168.1 billion won over the same period. The number of financial planners (FP) also increased from 19,131 to 22,609.

By Lim Young-sin and Yoon Yeon-hae

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