Hyundai at a Glance
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Established in 1955 as the first marine insurance company in Korea, with its headquarter in Jongno-gu, Seoul, South Korea.
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Leading insurance company in the non-life insurance market in South Korea.
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Plays a pivotal role in globalizing the Korean insurance industry with its overseas networks, including locations in the U.S., the U.K., China, Japan, Singapore and Vietnam.
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First Korean insurance company to be awarded "The Customer Satisfaction Charter".
Hyundai Insurance
U.S. Branch
Established in February 1994, the U.S. branch deals with advanced insurance products developed based on consumer-oriented principles and new insurance products designed to insure newly emerging risks in the U.S., which leads the world insurance industry.
Hyundai Insurance U.S.Branch offers high-quality insurance siervices to Korean companies that entered the U.S.
Hyundai
Financial Highlights
Note:
- Exchange rate in 2022: Profit & Loss USD1 = KRW 1,291.45 / Balance Sheet: USD1 = KRW 1,267.30
- Separate basis of Korea International Finanical Reporting Standards (K-IFRS)
| Classification | FY2020 (USD 1,000) |
FY2021 (USD 1,000) |
FY2022 (USD 1,000) |
|---|---|---|---|
| Direct Premium | 12,209,484.00 | 13,470,002.00 | 12,619,901.00 |
| Net Premium | 11,150,136.00 | 12,003,436.00 | 11,242,870.00 |
| Earned Premium | 10,876,251.00 | 11,798,446.00 | 11,083,693.00 |
| Underwriting Income | (725,294.00) | (494,999.00) | (331,577.00) |
| Investment Income | 1,131,097.00 | 1,058,729.00 | 968,806.00 |
| Total Operating Income | 405,803.00 | 563,730.00 | 637,229.00 |
| Net Income | 259,385.00 | 383,193.00 | 434,321.00 |
| Total Assets | 44,871,624.00 | 44,108,698.00 | 40,722,806.00 |
| Invested Assets | 37,405,037.00 | 36,495,504.00 | 34,006,720.00 |
| Total Shareholder's Equity | 4,365,957.00 | 4,124,360.00 | 3,216,092.00 |
Hyundai
Awards & Recognition
Rating
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A- StableS&P evaluates credit ratings for institutions including governments, corporations, and financial debts such as bonds and loans based on its objective assessment standards and expansive global network. We received an 'A-' from S&P thanks to solid market competitiveness based on excellent brand recognition, profitability-oriented sales policy, and stable capital.
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A StableA.M.Best is the oldest, most authoritative insurance rating agency around and one that assigns credit ratings based on the company's insurance unnderwriting capability, management ability, as well as its financial performance. We obtained an 'A' based on market dominance, stable underwriting performance, and strong capital.