Manulife Financial Corporation, through its subsidiary The Manufacturers Life Insurance Company, announced the signing of an agreement to transfer MVI Life to Asahi Mutual Life Insurance Company (Asahi Life). The transaction will be completed after receiving full approval from the Ministry of Finance and other regulatory bodies.

Manulife office building. *Photo by Manulife Vietnam.*

MVI Life, formerly Aviva Vietnam, was acquired by Manulife in 2021 and operated as an independent life insurance company, separate from Manulife Vietnam. In 2024, the entity recorded approximately 93 million USD in premium revenue and had total net assets of about 134 million USD (as of end 2024).

According to Steve Finch, President and Chief Executive Officer of Manulife Asia, this transfer agreement aligns with the company's strategic direction, reaffirming its long-term commitment to the Vietnamese market. Immediately after receiving the necessary approvals and completing the transaction, the group will fully concentrate resources on serving customers in Vietnam through Manulife Vietnam.

Steve Finch stated that Vietnam has been among the key markets for Manulife Asia's business operations since 1999. "We will continue to deliver superior service experiences and innovative solutions to meet our customers' health protection and financial planning needs", he said.

Manulife Vietnam is one of the leading life insurance companies in Vietnam. The company currently serves 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 advisors, along with an exclusive partnership with VietinBank. In the first half of this year alone, the company paid nearly 4,000 billion VND in insurance benefits to customers. The company constantly innovates products, enhances service quality, boosts digitalization capabilities, and develops the quality of its advisory team to provide comprehensive health protection, financial, and retirement solutions.

Established in 1888, Asahi Life is the second oldest life insurance company in Japan, among the top 10 life insurance companies in that market. Currently, the company serves over three million customers with a team of about 19,000 employees. In Vietnam, Asahi Life aims to significantly expand its business operations as a new life insurance company. The company builds on its extensive experience in life and health insurance, along with eight years of presence through advisory, marketing, sales, and product development partnerships with major insurance companies.

Manulife and Asahi Life are committed to close cooperation to ensure a smooth transition for customers, partners, and employees. All MVI Life insurance contract benefits will continue to be maintained and guaranteed. Additionally, MVI Life pledges to continue serving customers with the best quality. The transaction will be completed after all required approvals and procedures are met.

Hoang Dan