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Hanwha Life Insurance revenue surges after separation of sales channels, product development

Published: 26 Mar. 2026, 13:25 Updated: 26 Mar. 2026, 17:32

JIN MIN-JI
[email protected]

Hanwha Life Insurance headquarters in Yeouido, western Seoul [HANWHA LIFE INSURANCE]

Hanwha Life Financial Service said its revenue jumped more than sevenfold five years after separating its sales channels from product development — a trend that is gaining momentum as insurance companies increasingly shift their agent organizations into subsidiary-type general agencies.

Hanwha Life’s revenue jumped to 2.44 trillion won ($1.6 billion) in 2025, up from 328 billion won in 2021, the first year the company adopted the business model, Hanwha Life said in a statement on Thursday. Its net profit also reached 115.8 billion won in 2025 after swinging into the black in 2023.

The number of agents selling insurance products from Hanwha Life has also expanded by 50 percent to reach 27,000 at the end of 2025 from 19,000 in 2021. The company expects its total number of product sellers, including those from affiliated agencies, to surpass 40,000 this year. The agents’ average salary also jumped more than twofold from 42.21 million won to 84.4 million won in 2025.

The incomplete sales ratio was also down to 0.02 percent from 0.05 percent over the same period.

The achievements are the result of pioneering a path and dedicating to providing customers with the best and most optimal products, said Hanwha Life Financial Services CEO Choi Seung-young in a statement.

BY JIN MIN-JI [[email protected]]