Hanwha Life President Kim Dong-won (Photo courtesy of Hanwha)
In January, Hanwha Life President Kim Dong-won attended the Davos Forum, interacting with global financial leaders and participating in global management discussions. During the forum, Kim discussed the Indonesian insurance market outlook and detailed cooperation plans with CEO John Riady, demonstrating Hanwha Life’s commitment to expanding its international footprint.
In February, Hanwha Life signed a memorandum of understanding with Da Nang National University and the Green Umbrella Children’s Foundation to nurture Vietnam’s future financial and ICT talent. The initiative aims to unearth and develop local talent, further strengthening Hanwha Life’s presence and influence in the region.
Through the first quarter, Hanwha Life emerged as the life insurance company with the most interest in “global management” to diversify its market. Data & Research conducted big data analysis on 11 life insurance companies from January to March this year, covering 230,000 sites across 12 channels, including news, communities, cafes, YouTube, Twitter, Instagram, Facebook, KakaoStory and public platforms. Survey subjects were randomly selected, and the ranking by amount of information was Hanwha Life, Samsung Life, Mirae Asset Life, Kyobo Life, Heungkuk Life, Shinhan Life, KB Life, Dongyang Life, DB Life, AIA Life and Fubon Hyundai Life.
“Hanwha Life recorded 1,510 related posts in the first quarter, easily taking the top spot in interest in ‘global management,'” Data & Research said, followed by Samsung Life with 571 and Mirae Asset Life with a total of 273.
Hanwha Life Insurance Co., Ltd. in March embarked on its global expansion by establishing a real estate investment corporation in Japan as a springboard to explore new overseas markets. The move is in line with the company’s broader strategy to diversify its market presence and capitalize on new growth opportunities.
Meanwhile, Mirae Asset Life’s variable insurance fund significantly outperformed the industry average in the fourth quarter of last year thanks to its global diversification investment approach. Despite the uncertain global economic situation, Mirae Asset Life managed to suppress volatility and achieve high returns, demonstrating the effectiveness of its investment strategy.
Samsung Life, which came in second for big data analytics, secured 137 local branches in Thailand, targeting the country’s high-growth potential market. CEO Hong Won-hak’s New Year address highlighted the company’s strategic focus on global expansion and cooperation with financial stakeholders.
As the year progresses, Korea’s life insurance industry continues to undergo dynamic changes and strategic moves aimed at diversifying into global markets. Hanwha Life’s proactive initiatives and outstanding track record in its efforts towards ‘global management’ highlight the company’s leading role in this evolving environment. With its ongoing efforts to develop new markets and foster international partnerships, the company is well poised to capitalize on new opportunities and drive sustained growth on the global stage.
