Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₩6,720, the stock trades at a forward P/E ratio of 2x. Average forward P/E is 6x in the Insurance industry in South Korea. Total returns to shareholders of 72% over the past three years. New Risk • Jun 12
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 3.9% Last year net profit margin: 6.0% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • May 19
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₩7,620, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 6x in the Insurance industry in South Korea. Total returns to shareholders of 84% over the past three years. Announcement • May 02
Hanwha General Insurance Co., Ltd. to Report Q1, 2026 Results on May 12, 2026 Hanwha General Insurance Co., Ltd. announced that they will report Q1, 2026 results at 10:30 AM, Alaskan Daylight on May 12, 2026 Price Target Changed • Apr 30
Price target increased by 8.8% to ₩7,770 Up from ₩7,140, the current price target is an average from 4 analysts. New target price is 17% above last closing price of ₩6,620. Stock is up 62% over the past year. The company is forecast to post earnings per share of ₩2,718 for next year compared to ₩1,858 last year. Board Change • Apr 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. No highly experienced directors. Head of Corporate Insurance Division & In-House Director Ji-Hun Seo was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Feb 27
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₩7,610, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 8x in the Insurance industry in South Korea. Total returns to shareholders of 69% over the past three years. Announcement • Feb 24
Hanwha General Insurance Co., Ltd., Annual General Meeting, Mar 18, 2026 Hanwha General Insurance Co., Ltd., Annual General Meeting, Mar 18, 2026, at 09:01 Tokyo Standard Time. Location: auditorium, 141, seosomun-ro, jung-gu, seoul South Korea New Risk • Feb 23
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of South Korean stocks, typically moving 10% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (10% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (3.8% net profit margin). Valuation Update With 7 Day Price Move • Feb 10
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩7,350, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 7x in the Insurance industry in South Korea. Total returns to shareholders of 82% over the past three years. New Risk • Dec 04
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 3.9% Last year net profit margin: 6.0% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (3.9% net profit margin). Valuation Update With 7 Day Price Move • Nov 12
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₩6,060, the stock trades at a forward P/E ratio of 2x. Average forward P/E is 5x in the Insurance industry in South Korea. Total returns to shareholders of 64% over the past three years. Valuation Update With 7 Day Price Move • Sep 15
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩6,340, the stock trades at a forward P/E ratio of 2x. Average forward P/E is 5x in the Insurance industry in South Korea. Total returns to shareholders of 60% over the past three years. Price Target Changed • Aug 20
Price target increased by 10% to ₩6,480 Up from ₩5,880, the current price target is an average from 5 analysts. New target price is 19% above last closing price of ₩5,460. Stock is down 9.2% over the past year. The company is forecast to post earnings per share of ₩2,891 for next year compared to ₩2,121 last year. Valuation Update With 7 Day Price Move • Jul 10
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to ₩6,990, the stock trades at a forward P/E ratio of 2x. Average forward P/E is 5x in the Insurance industry in South Korea. Total returns to shareholders of 64% over the past three years. Announcement • Apr 25
Hanwha General Insurance Co., Ltd. (KOSE:A000370) agreed to acquire an additional 42.93% stake in Carrot Co., Ltd from a group of shareholders for approximately KRW 210 billion. Hanwha General Insurance Co., Ltd. (KOSE:A000370) agreed to acquire an additional 42.93% stake in Carrot Co., Ltd from a group of shareholders for approximately KRW 210 billion on April 24, 2025. A cash consideration of KRW 205.64 billion will be paid by Hanwha General Insurance Co., Ltd. As part of consideration, KRW 205.64 billion is paid towards common equity of Carrot Co., Ltd. Upon completion, Hanwha General Insurance Co., Ltd. will own 100% stake in Carrot Co., Ltd. The expected completion of the transaction is April 29, 2025. Announcement • Feb 27
Hanwha General Insurance Co., Ltd., Annual General Meeting, Mar 19, 2025 Hanwha General Insurance Co., Ltd., Annual General Meeting, Mar 19, 2025, at 09:00 Tokyo Standard Time. Location: auditorium, 141, seosomun-ro, jung-gu, seoul South Korea New Risk • Dec 08
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 68% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (68% accrual ratio). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Price Target Changed • Jun 20
Price target increased by 7.9% to ₩6,150 Up from ₩5,700, the current price target is an average from 6 analysts. New target price is 24% above last closing price of ₩4,955. Stock is up 22% over the past year. The company is forecast to post earnings per share of ₩2,749 for next year compared to ₩1,465 last year. Valuation Update With 7 Day Price Move • Apr 24
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩4,870, the stock trades at a forward P/E ratio of 2x. Average forward P/E is 4x in the Insurance industry in South Korea. Total returns to shareholders of 4.4% over the past three years. Announcement • Mar 04
Hanwha General Insurance Co., Ltd., Annual General Meeting, Mar 21, 2024 Hanwha General Insurance Co., Ltd., Annual General Meeting, Mar 21, 2024, at 09:00 Korea Standard Time. Location: 12F Auditorium, Hanwha General Insurance Seosomun Headquarters,141, Sogong-ro, Jung-gu Seoul South Korea Agenda: To consider and approve the 79th (January 1 - December 31, 2023) financial statement and consolidated financial statement; to consider and approve the appointment of directors; to consider and approve the Appointment of members of the audit committee who is outside director; to consider and approve the directors’ remuneration limit; to consider and approve the Change in executive severance payment regulations; and to consider and approve the appointment of an outside director becoming a member of the audit committee. Valuation Update With 7 Day Price Move • Feb 01
Investor sentiment improves as stock rises 30% After last week's 30% share price gain to ₩5,160, the stock trades at a forward P/E ratio of 2x. Average forward P/E is 4x in the Insurance industry in South Korea. Total returns to shareholders of 51% over the past three years. Price Target Changed • Dec 06
Price target decreased by 8.0% to ₩5,783 Down from ₩6,283, the current price target is an average from 6 analysts. New target price is 42% above last closing price of ₩4,075. Stock is down 0.7% over the past year. The company is forecast to post earnings per share of ₩2,242 for next year compared to ₩1,856 last year. New Risk • Dec 02
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 2.6% Last year net profit margin: 5.7% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.6% net profit margin). Valuation Update With 7 Day Price Move • Feb 27
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₩5,020, the stock trades at a trailing P/E ratio of 3.3x. Average trailing P/E is 5x in the Insurance industry in South Korea. Total returns to shareholders of 129% over the past three years. Board Change • Nov 16
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. 2 independent directors (3 non-independent directors). Independent Outside Director Joo-Seong Kim is the most experienced director on the board, commencing their role in 2020. Independent Outside Director Chang Woo Lee was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Announcement • Sep 20
Hanwha General Insurance Co., Ltd. announced that it expects to receive KRW 190 billion in funding from Hanwha Life Insurance Co., Ltd. Hanwha General Insurance Co., Ltd. announced a private placement to issue 38,000,000 preferred shares at issue price of KRW 5,000 per share for total gross proceeds of KRW 190,000,000,000. The transaction will include participation from returning investor, Hanwha Life Insurance Co., Ltd. The shares to be issued will have a restriction period of 12 months from the closing of the transaction. The preferred shares are fully convertible into common shares. The conversion period will begin on September 29, 2027 and end on September 27, 2032. The company will close the transaction on September 27, 2022. The transaction has been approved by the board of directors of the company. Price Target Changed • Aug 18
Price target increased to ₩7,200 Up from ₩6,660, the current price target is provided by 1 analyst. New target price is 46% above last closing price of ₩4,925. Stock is up 22% over the past year. The company posted earnings per share of ₩939 last year. Valuation Update With 7 Day Price Move • Jul 20
Investor sentiment improved over the past week After last week's 16% share price gain to ₩4,765, the stock trades at a trailing P/E ratio of 4.2x. Average trailing P/E is 4x in the Insurance industry in South Korea. Total returns to shareholders of 35% over the past three years. Board Change • Apr 27
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. 2 independent directors (3 non-independent directors). Independent Outside Director Joo-Seong Kim is the most experienced director on the board, commencing their role in 2020. Independent Outside Director Chang Woo Lee was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Valuation Update With 7 Day Price Move • Mar 24
Investor sentiment improved over the past week After last week's 15% share price gain to ₩4,970, the stock trades at a trailing P/E ratio of 9.5x. Average trailing P/E is 7x in the Insurance industry in South Korea. Total loss to shareholders of 39% over the past three years. Is New 90 Day High Low • Mar 16
New 90-day high: ₩4,365 The company is up 5.0% from a price of ₩4,145 on 16 December 2020. Underperformed the South Korean market, which is up 9.0% over the last 90 days. Price trend is similar to the Insurance industry, which is also up 5.0% over the same period. Reported Earnings • Mar 11
Full year 2020 earnings released: EPS ₩315 (vs ₩705 loss in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: ₩5.65t (up 7.4% from FY 2019). Net income: ₩61.3b (up ₩127.5b from FY 2019). Profit margin: 1.1% (up from net loss in FY 2019). Over the last 3 years on average, earnings per share has fallen by 96% per year but the company’s share price has only fallen by 23% per year, which means it has not declined as severely as earnings. Announcement • Feb 27
Hanwha General Insurance Co., Ltd., Annual General Meeting, Mar 19, 2021 Hanwha General Insurance Co., Ltd., Annual General Meeting, Mar 19, 2021, at 09:00 Korea Standard Time. Is New 90 Day High Low • Nov 24
New 90-day high: ₩3,605 The company is up 31% from its price of ₩2,750 on 27 August 2020. The South Korean market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Insurance industry, which is up 17% over the same period. Price Target Changed • Nov 23
Price target raised to ₩3,650 Up from ₩3,157, the current price target is provided by 1 analyst. The new target price is 20% above the current share price of ₩3,040. As of last close, the stock is up 4.3% over the past year.