Manulife Financial Corporation, through its subsidiary The Manufacturers Life Insurance Company, has just announced that it has signed an agreement on transferring MVI Life to Asahi mutual Life Insurance Company (abbreviated as " Asahi Life").
MVI Life, formerly aviva Vietnam, was acquired by Manulife Group in 2021. Since then, MVI Life has operated as an independent life insurance company, operating separately from Manulife Vietnam. MVI Life recorded insurance premium revenue of about 93 million USD in 2024 and had total net assets of about 134 million USD by the end of 2024.
Subject to the approval of the Ministry of Finance and management agencies, after the transfer transaction is completed, Manulife Group will continue to demonstrate its commitment to long-term investment and development in Vietnam through core business activities, Manulife Vietnam - the first foreign-invested life insurance enterprise licensed to operate in Vietnam since 1999.
Mr. Steve Finch, President and CEO of Manulife Asia, shared: This transfer agreement is in line with our strategic orientation and reaffirms Manulife's long-term commitment to the Vietnamese market. Immediately after receiving the necessary approvals and completing the transaction, we will focus our resources on serving customers in Vietnam through Manulife Vietnam, one of the key markets in Manulife Asia's business operations from 1999 to present. We will continue to provide superior service experiences and innovative solutions to meet customers' health protection needs and financial planning.
We would also like to acknowledge and respectfully thank the leadership team and all employees of MVI Life for their great contributions to business activities and customer service over the past time.
Manulife Vietnam is one of the leading life insurance companies in Vietnam. The company is serving nearly 1.5 million customers nationwide through a network of more than 60 offices, nearly 1,000 employees, and a team of about 50,000 financial consultants, with exclusive cooperative relationships with VietinBank. In the first half of 2025 alone, Manulife Vietnam paid nearly VND4,000 billion in insurance benefits to customers. The company has been constantly innovating products, improving service quality, promoting digital capabilities, as well as strongly developing the quality of the consulting team to bring comprehensive health protection, financial and retirement solutions.
Established in 1888, Asahi Life is the second oldest life insurance company in Japan and is among the top 10 life insurance companies in this market. Currently, the company serves more than 3 million customers with a team of about 19,000 employees. In Vietnam, Asahi Life aims to strongly expand its business activities as a new life insurance company, based on extensive experience in the field of life and health insurance, with eight years of presence through consulting, marketing, sales and product development with major insurance companies.
Manulife Group and Asahi Life are committed to closely coordinating to ensure the transfer process goes smoothly for customers, partners and employees. All benefits of MVI Life's insurance contract will continue to be maintained and guaranteed, at the same time, MVI Life is committed to continuing to accompany and serve customers with the best quality. The transaction will be completed after fully meeting the approvals and procedures according to regulations.
