Hanwha Life completes majority acquisition of Velocity Clearing
31 July 2025 South Korea, US
Image: backup_studio/stock.adobe.com
Hanwha Life, a South Korea-based insurance company, has completed the acquisition of a 75 per cent stake in US-based global financial services firm Velocity Clearing.
The deal marks the firm鈥檚 move into the North American capital markets 鈥� beyond Hanwha Life鈥檚 traditional insurance business.
With this transaction, Hanwha Life says it becomes the first Korean insurance company to acquire a US securities firm.
Through the majority acquisition, Velocity Clearing will become a platform for Hanwha Life to enhance its profitability and provide global financial products to clients.
Velocity Clearing manages the full post-trade lifecycle, including clearing and settlement. As of the end of 2024, the firm held approximately US$1.2 billion in total assets, with a compound annual growth rate of 25 per cent in revenue over the last three years.
Michael Logan, CEO of Velocity Clearing, states: 鈥淲ith Hanwha Life鈥檚 global vision and support, we expect to accelerate our growth and unlock new opportunities together for our clients. We鈥檙e excited about the powerful synergies ahead.鈥�
Working closely with Velocity Clearing, Hanwha Life aims to ensure early operational stability while building strategic synergies with its US asset management affiliate, Hanwha Asset Management (USA) and the Hanwha AI Center (HAC), located in San Francisco.
This collaboration will combine financial expertise with advanced AI capabilities to strengthen Hanwha Life鈥檚 competitive edge in the US market.
A Hanwha Life representative comments: 鈥淭his transaction represents a significant step for Korean finance to establish a presence in the key financial center, the US capital markets.
鈥淢oving forward, we will continue to strengthen our global business by leveraging digital financial technologies and our global network to ensure sustainable, long-term growth.鈥�
The deal marks the firm鈥檚 move into the North American capital markets 鈥� beyond Hanwha Life鈥檚 traditional insurance business.
With this transaction, Hanwha Life says it becomes the first Korean insurance company to acquire a US securities firm.
Through the majority acquisition, Velocity Clearing will become a platform for Hanwha Life to enhance its profitability and provide global financial products to clients.
Velocity Clearing manages the full post-trade lifecycle, including clearing and settlement. As of the end of 2024, the firm held approximately US$1.2 billion in total assets, with a compound annual growth rate of 25 per cent in revenue over the last three years.
Michael Logan, CEO of Velocity Clearing, states: 鈥淲ith Hanwha Life鈥檚 global vision and support, we expect to accelerate our growth and unlock new opportunities together for our clients. We鈥檙e excited about the powerful synergies ahead.鈥�
Working closely with Velocity Clearing, Hanwha Life aims to ensure early operational stability while building strategic synergies with its US asset management affiliate, Hanwha Asset Management (USA) and the Hanwha AI Center (HAC), located in San Francisco.
This collaboration will combine financial expertise with advanced AI capabilities to strengthen Hanwha Life鈥檚 competitive edge in the US market.
A Hanwha Life representative comments: 鈥淭his transaction represents a significant step for Korean finance to establish a presence in the key financial center, the US capital markets.
鈥淢oving forward, we will continue to strengthen our global business by leveraging digital financial technologies and our global network to ensure sustainable, long-term growth.鈥�
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