Hanwha Life Acquires Accuon... "Expanding Synergy for Hanwha Financial's Leap Toward a Comprehensive Financial Group"

Securing a Retail and Capital Market Value Chain Centered on Insurance

New Entry into Specialty Lending Finance through Acquisition of Capital Company

Establishing a Savings Bank Group with KRW 6.5 Trillion in Total Assets, Rising to Fourth in the Industry

Hanwha Life is accelerating efforts to strengthen its comprehensive financial group competitiveness by simultaneously securing lending financial capabilities and bolstering the capital strength of its affiliate securities company.

Seoul Yeouido Hanwha Life 63 Building exterior view. Hanwha Life

Hanwha Life announced on September 30 that its board of directors had approved the acquisition of management rights of Accuon Capital, owned by the global private equity fund manager EQT.

This will be executed as a joint investment with Centroid PE. Following the acquisition, Hanwha Life's stake will be 50.54%, with an acquisition price of KRW 440 billion.

Accuon Capital is the largest shareholder of Accuon Savings Bank, holding a 100% stake. This means Hanwha Life will secure not only Accuon Capital, but also its subsidiary, Accuon Savings Bank.

According to Hanwha Life, this acquisition gives the company a balanced business portfolio spanning insurance, securities, asset management, and now specialty lending finance.

Hanwha Life plans to use its entry into the capital finance sector to secure new revenue streams differentiated from insurance, while enhancing its corporate finance and investment banking capabilities. The strategy is to expand Hanwha Financial Group's growth foundation using the broad range of capital finance business areas.

Established in 2006, Accuon Capital is a mid-sized capital company with total assets of KRW 4.6 trillion as of the first half of 2026. It is not affiliated with a financial holding group or major conglomerate, and specializes in corporate finance, investment finance, and asset-based finance.

Hanwha Life intends to leverage Accuon Capital's corporate and asset-based finance capabilities in connection with its group business to secure additional growth engines.

Accuon Savings Bank, founded in 1972, is a top-five savings bank with total assets of KRW 5.1 trillion. It operates three financial centers, primarily in Seoul and Busan, and as of the end of June employed about 380 people.

Hanwha Life plans to combine the capabilities of its existing subsidiary, Hanwha Savings Bank, and Accuon Savings Bank to establish a savings bank group with approximately KRW 6.5 trillion in total assets, aiming to rise to fourth place in the industry. The branch network, previously focused on Incheon and Gyeonggi, will now include Seoul, Busan, Ulsan, and Gyeongnam.

On the same day, the board of directors also approved participation in a rights offering by affiliate Hanwha Investment & Securities. Hanwha Asset Management, a wholly owned subsidiary of Hanwha Life, and Hanwha Life will each invest KRW 250 billion.

Hanwha Life explained that the purpose of this capital increase is to "strengthen fundamental competitiveness by achieving designation as a comprehensive financial investment business entity."

Hanwha Life believes that if Hanwha Investment & Securities is designated as a comprehensive financial investment company, it can expect greater investment returns, diversified business and investment portfolios, and increased synergy.

Through this investment, Hanwha Financial Group has completed a comprehensive financial value chain, encompassing insurance, securities, asset management, and lending finance. In particular, with the designation of Hanwha Investment & Securities as a comprehensive investment business entity and the integration of Accuon Capital's lending know-how, the group will be able to offer corporate clients integrated solutions that span both the capital markets and lending.

Additionally, with the acquisition of Accuon Savings Bank, a major savings bank with KRW 5 trillion in assets, retail finance touchpoints will be expanded, enabling affiliate companies to broaden their financial product lineup through expanded customer base connectivity.

A Hanwha Life representative said, "This investment is a significant turning point in our leap beyond insurance toward becoming a comprehensive financial group," and added, "Based on our value chain encompassing insurance, securities, asset management, and lending finance, Hanwha Financial Group will provide customers with a broader range of financial services."

This content was produced with the assistance of AI translation services.