South Korean insurance company Hanwha Life successfully purchases Velocity Clearing, LLC, a U.S. based entity, marking the first such move by a Korean insurer into the North American capital markets.

In a significant move, South Korean life insurance company Hanwha Life has announced the acquisition of a 75% stake in U.S.-based global financial services firm Velocity Clearing, LLC on July 30, 2025. This strategic move marks Hanwha Life's entry into the North American capital markets, beyond its traditional insurance business.

Velocity Clearing, LLC, a technology-driven, self-clearing broker/dealer, provides execution services, clearing, and custody. Based in New York, the company has a growing team of professionals in multiple locations throughout the United States and across the globe. As of the end of 2024, Velocity Clearing, LLC held approximately USD 1.2 billion in total assets and reported a steady increase in net income.

Over the last three years (2022~2024), Velocity Clearing's revenue has experienced a compound annual growth rate (CAGR) of 25%. The company is registered with the SEC and is a member of FINRA and SIPC, ensuring a high level of reliability and security for its clients. Velocity Clearing supports retail traders and institutional clients, including brokers/dealers, hedge funds, family offices, and proprietary trading firms in the United States and globally.

Hanwha Life aims to leverage this strong foundation to expand its global financial ecosystem. The company plans to use digital financial technologies and its global network to ensure sustainable, long-term growth. Hanwha Life also intends to strengthen its competitive edge in the U.S. market by working closely with Velocity Clearing, LLC, under its existing leadership, and leveraging strategic synergies with its U.S. asset management affiliate, Hanwha Asset Management (USA) Ltd., and the Hanwha AI Center (HAC), located in San Francisco.

Hanwha Life's ambitions extend beyond the U.S. market. The company aims to become a trusted global financial brand that delivers comprehensive and sustainable financial solutions. As of the end of 2024, Hanwha Life reported total consolidated assets of USD 108.9 billion (KRW 160.2 trillion). The company is accelerating its transformation into a global financial group through innovation and strategic overseas expansion.

Michael Logan, CEO of Velocity Clearing, expects the partnership with Hanwha Life to accelerate growth and unlock new opportunities for clients. Brian Schaeffer, president of Velocity Clearing, stated that this partnership will allow Velocity Clearing to further accelerate its product and geographic expansion.

As Hanwha Life and Velocity Clearing embark on this new journey together, they aim to provide seamless and reliable service to clients, further solidifying their positions in the global financial market.

South Korean insurance company Hanwha Life successfully purchases Velocity Clearing, LLC, a U.S. based entity, marking the first such move by a Korean insurer into the North American capital markets.