Moody’s downgrades Hanwha Life’s ratings, outlook stable, and confirms Hanwha General’s rating, outlook negative
Hong Kong , June 19, 2020 – Moody's Investors Service ("Moody's") has downgraded the insurance financial strength rating (IFSR) of Hanwha Life Insurance Co., Ltd. to A2 from A1 as well as its junior subordinated capital securities to Baa1(hyb) from A3(hyb). The outlook has been revised to stable...Hanwha General Insurance is an insurance company providing the following types of insurance: fire; marine; reinsurance of all lines of non-life insurance; motor (compulsory automobile liability and comprehensive automobile); liability (commercial general liability, workmen's compensation and employers' liability, and gas accident liability; accident (personal accident and traveller's accident); comprehensive (inland floater, property all risks, and leisure); engineering (machinery breakdown, erection all risks, and contractor's all risks); long -term savings (fire, personal accident, and comprehensive); and individual annuity and accident insurance.
Hanwha Life Insurance Co. is engaged in providing life insurance services and other related insurance services. Co.'s insurance products consist of survival insurance, death insurance, life and death mixed insurance, and group insurance. Co. also provides loan services. Co. has 7 supporting groups, 67 branches and 707 business offices throughout the Republic of Korea (South Korea).
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