The latest set of financials from Hanwha Life;
Hanwha Life’s global business has entered a new phase of earnings growth, driven by increasing contributions from its international operations. Its key overseas subsidiaries recorded a combined net profit of KRW 103 billion (approximately USD 72.7 million) in the first half of 2026, achieving approximately 87% of their full-year net profit of KRW 117.8 billion (approximately USD 83.2 million) in 2025 in just six months.
Growth was driven by steady performance from Hanwha Life Vietnam, along with increasing contributions from Indonesia’s Nobu Bank and U.S.-based securities firm Velocity Clearing, which joined Hanwha Life’s portfolio last year.
Net profit from Hanwha Life’s key overseas subsidiaries accounted for approximately 11% of the company’s consolidated net profit of KRW 904.5 billion (approximately USD 638.4 million) in the first half of 2026, positioning global business as a new earnings pillar for Hanwha Life. This demonstrates that Hanwha Life’s strategy of expanding its global portfolio beyond insurance into banking and securities is translating into tangible financial performance.
* Hanwha Life’s key overseas subsidiaries: Hanwha Life Vietnam, Hanwha Life Indonesia, Nobu Bank, Lippo General Insurance, and Velocity Clearing, LLC (on a consolidated basis)
▣ Hanwha Life Vietnam Posts KRW 32 Billion (Approximately USD 22.6 million) in H1 Net Profit, Up 23% YoY
Hanwha Life’s Vietnam subsidiary delivered a particularly strong performance among its overseas operations. Its net profit reached KRW 32 billion (approximately USD 22.6 million) in the first half of 2026, up 23% year-on-year.
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Improved insurance profit through effective claims management and reduced operating expenses
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Expanded investment income by allocating funds to higher-yielding deposits amid rising local interest rates
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Strengthened the foundation for sustained growth in new policies through new Bancassurance partnerships and the launch of sales operations in the second half of the year
▣ Nobu Bank and Velocity Clearing Emerge as Key Earnings Contributors to Hanwha Life’s Global Financial Portfolio
Velocity Clearing, a U.S.-based securities firm, and Indonesia’s Nobu Bank recorded combined net profit of KRW 58 billion (approximately USD 40.9 million) in the first half of 2026, contributing significantly to earnings and highlighting the results of Hanwha Life’s efforts to diversify its global financial portfolio.
- Velocity Clearing, LLC recorded consolidated first-half net profit of KRW 29 billion (approximately USD 20.5 million), supported by increased interest income amid rising U.S. bond yields and improved investment performance amid strong stock market conditions, particularly in AI and semiconductor-related sectors
- Nobu Bank also recorded H1 net profit of KRW 29 billion (approximately USD 20.5 million), with interest income increasing significantly following the expansion of government-supported mortgage loans, while revenue from local QR payment services and mini-ATM fees also supported profit growth
▣ Global Growth Momentum to Continue in H2
Hanwha Life plans to sustain its global growth momentum in the H2 by further improving the profitability of its overseas insurance subsidiaries and strengthening the profit-generating capabilities of Velocity Clearing and Nobu Bank.
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Improve profit structures at Hanwha Life Vietnam and Hanwha Life Indonesia by expanding partnerships with local banks
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Increase earnings contributions from Velocity Clearing and Nobu Bank on the back of their stable earnings base
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Deliver stronger global business results through a diversified portfolio spanning insurance, banking and securities, further strengthening Hanwha Life’s position as a global integrated financial services group
▣ Hanwha Life Holds H1 2026 Earnings Call on August 12
Hanwha Life held its H1 earnings call on Wednesday, August 12 (KST), and announced its financial results for the first half of 2026. Consolidated net profit increased 96% year on year to KRW 904.5 billion (approximately USD 638.4 million).
- Net profit on a standalone basis increased 183.9% year-on-year to KRW 510.2 billion (approximately USD 360.1 million), driven by improvements in both insurance and investment profits
- New business CSM reached KRW 1.3001 trillion (approximately USD 917.6 million) in H1, marking the highest first-half figure since the introduction of IFRS 17
- New business profitability increased 11-fold, demonstrating clear results from Hanwha Life’s profitability-focused sales strategy
A Hanwha Life official stated, “Our proactive global expansion and efforts to diversify our portfolio have translated into tangible earnings, putting our global business on a stable growth trajectory. In the second half of the year, we will further strengthen the earnings foundation of each overseas subsidiary and expand sustainable growth drivers across global markets.”
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