HANWHA LIFE INSURANCE COMPANY LIMITED (VIETNAM)

HANWHA LIFE INSURANCE COMPANY LIMITED (VIETNAM), tax code 0305774706, is a 100% foreign-owned life insurance enterprise operating in Vietnam since June 12, 2008. Headquartered at 14th Floor, Fideco Tower, No. 81–85 Ham Nghi Street, Nguyen Thai Binh Ward, District 1, Ho Chi Minh City, the company also maintains strong regional presence through branches in Hanoi and Dak Lak, as well as a major representative office in District 3, Ho Chi Minh City.

This subsidiary of Hanwha Life Insurance Company Limited, headquartered in Seoul, South Korea, operates under a limited liability structure and is fully backed by its Korean parent, which holds 100% equity ownership. It is registered with the Ministry of Finance to provide a full suite of life insurance products in Vietnam’s growing insurance market.

Financially, HANWHA LIFE INSURANCE COMPANY LIMITED (VIETNAM) has shown resilient asset growth and rising profitability, despite a contraction in sales in 2023. Its total assets grew 14.5% year-on-year, reaching USD 755.37 million, and equity increased to USD 221.11 million, a 17.35% rise. The company’s net profit rose sharply by 58.3% to USD 32.69 million, reflecting improved underwriting or investment gains, even as sales declined by 11.64% to USD 152.61 million.

The firm’s working capital remains solid at USD 288.36 million, reinforcing its strong liquidity and operational flexibility. These indicators place Hanwha Life Vietnam among the country's most financially sound life insurers. From a risk management perspective, this positions the company as a low-risk counterparty for reinsurers, business partners, and regulatory stakeholders.

Led by Mr. Back J. K. as Chairman cum Director and supported by Chief Accountant Ms. Le T. P. D., the company employs 247 staff and maintains a lean, efficient corporate structure. Its paid-up capital stands at USD 200.94 million, signifying a strong capital base compared to its peers in the insurance sector. The company is actively expanding its coverage and customer base, although the sales contraction in 2023 may reflect broader market or regulatory challenges.

For stakeholders and analysts working with Vietnam private financial data, HANWHA LIFE INSURANCE COMPANY LIMITED (VIETNAM) represents a case of sound foreign investment yielding profitable returns. From business verification standpoints, the combination of high equity, sustained asset growth, and strategic backing from a globally recognized financial group make it a benchmark for FDI operations in Vietnam’s financial services landscape.

In summary, HANWHA LIFE INSURANCE COMPANY LIMITED (VIETNAM) remains a high-performing insurer with strong fundamentals and a stable outlook. While revenue dipped in the past year, the sharp rise in profits and equity expansion reflects robust internal controls and strategic resilience in Vietnam’s maturing life insurance industry.