South Korean life insurance company Hanwha Life has completed the acquisition of US based Velocity Clearing thus becoming the first Korean insurer to expand into the North American capital markets.
Hanwha Life completed the acquisition of a 75% stake in US based global financial services firm Velocity Clearing on 30 July 2025. The deal marks a bold strategic move into the North American capital markets—beyond Hanwha Life’s traditional insurance business.
Hanwha Life has delivered 25% CAGR in revenue over the past three years, proving business growth and stability in the US stock market strengthening, US market competitiveness through global financial synergy with the US affiliate and Hanwha AI Center.
Velocity Clearing is a global financial services firm based in New York, manages the full post-trade lifecycle, including clearing and settlement. As of the end of 2024, the firm held approximately S1.2bn in total assets, with a compound annual growth rate of 25% in revenue over the last three years (2022~2024). The net income is also increasing steadily, with continued profitability expected after the acquisition.
Working closely with Velocity Clearing under its existing leadership, the company 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 the advanced AI capabilities to strengthen Hanwha Life’s competitive edge in the U.S. market.
Hanwha Life representative said, "This transaction represents a significant step for Korean finance to establish a presence in the key financial centre, the US capital markets. Moving forward, we will continue to strengthen our global business by leveraging digital financial technologies and our global network to ensure sustainable, long-term growth."
Velocity Clearing CEO Michael Logan said, "With Hanwha Life’s global vision and support, we expect to accelerate our growth and unlock new opportunities together for our clients. We’re excited about the powerful synergies ahead."
Velocity Clearing president Brian Schaeffer said, “This partnership with Hanwha Life is client driven, allowing Velocity Clearing to further accelerate its product and geographic expansion.”
Hanwha Life was established in 1946 as Korea’s first life insurance company and has over 78 years of experience and reported total consolidated assets of KRW160.2tn ($108.9bn) as of the end of 2024. While maintaining leadership in the insurance sector, Hanwha Life is accelerating its transformation into a global financial group through innovation and strategic overseas expansion.
Velocity Clearing is a technology-driven, self-clearing broker/dealer providing execution services, clearing and custody along with access to stock locate services, securities lending, competitive financing, and a firm-wide focus on world-class customer service.