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Hanwha Life Closes Velocity Clearing Deal, Enters U.S. Securities Market

Hanwha Life will integrate Velocity Clearing under its existing leadership through collaboration with its U.S. asset management affiliate to bolster profitability

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Overview

  • The 75 percent stake in Velocity Clearing, acquired July 30 from a Cerberus affiliate, marks Hanwha Life’s debut as a broker-owner in the U.S. securities market.
  • Velocity Clearing recorded a 25 percent compound annual growth rate in revenue from 2022 to 2024 and held roughly $1.2 billion in assets by year-end.
  • The insurer will collaborate with Velocity’s existing leadership and integrate the firm with Hanwha Asset Management (USA) Ltd and the San Francisco–based AI Center.
  • In June, Hanwha Life secured a 40 percent stake in Indonesia’s Nobu Bank to launch its first overseas banking investment.
  • These deals reflect Hanwha Life’s strategic push to transform from a traditional insurer into a global financial services group and highlight Korean financial expertise abroad.