South Korea's Hanwha Life Insurance Co. said it has signed an agreement to acquire a 75% stake in US-based securities firm Velocity Clearing. Velocity Clearing, established in 2003 in New York, provides IT-based securities services to institutional investors, including clearing, settlement, and securities lending. Hanwha Life plans to leverage the acquisition to expand investment opportunities in the United States and enhance synergies with its international operations. The deal is pending regulatory approvals in both countries and is expected to close soon.In April, Hanwha Life became the first Korean insurer to enter overseas banking by acquiring a 40% stake in Indonesia's Nobu Bank.