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 on September 19, 2022. 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.