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Photo courtesy of Yonhap News |
[Alpha Biz= Kim Jisun] SEOUL – Hanwha Life Insurance has completed the acquisition of a 75% stake in U.S.-based securities firm Velocity Clearing, marking the first time a Korean insurer has entered the U.S. securities market, the company announced on July 31.
The acquisition signals Hanwha Life’s move to diversify beyond its insurance-centered portfolio and actively expand into global capital markets.
Based in New York, Velocity Clearing is a specialized broker-dealer with clearing and settlement capabilities — managing the post-trade process of funds and securities. As of the end of 2024, the firm holds USD 1.2 billion in total assets and has posted a 25% CAGR in revenue over the past three years (2022–2024).
Hanwha Life plans to work closely with Velocity’s existing management team to ensure business stability while leveraging synergies with Hanwha Asset Management’s U.S. operations and the Hanwha AI Center (HAC) to strengthen integration between finance and technology.
AlphaBIZ Kim Jisun(stockmk2020@alphabiz.co.kr)
