Japan Asahi Mutual Life Insurance to Buy Vietnam Insurer MVI Life (Previously Aviva Vietnam) from Manulife Financial Corporation (Acquired in 2021), MVI Life with $134 Million Net Assets in 2024 Generated $93 Million Premiums in 2024, Asahi Life is Japan 2nd Oldest Insurer & is Top 10 Life Insurance Company in Japan
3rd December | Hong Kong
Japan Asahi Mutual Life Insurance has announced to buy Vietnam insurer MVI Life (Previously Aviva Vietnam) from Manulife Financial Corporation (Acquired in 2021). MVI Life with $134 million net assets in 2024, generated $93 million premiums in 2024. Asahi Life is Japan 2nd oldest insurer, and is a top 10 life insurance company in Japan. Announcement (30/11/25): “Manulife Financial Corporation, through its direct subsidiary The Manufacturers Life Insurance Company (collectively “Manulife”), today announced it has entered into an agreement to sell MVI Life to Asahi Mutual Life Insurance Company (“Asahi Life”). MVI Life, formerly known as Aviva Vietnam, was acquired by Manulife in 2021. Since the acquisition, MVI Life has operated independently as a separate life insurance entity, fully distinct from Manulife Vietnam. MVI Life generated insurance premiums of approximately US$93 million in 2024 and had net assets of approximately US$ 134 million as of the end of 2024. Following the transaction, Manulife will continue its long-term commitment to Vietnam through Manulife Vietnam, a business entity established in 1999 as the first foreign-owned life insurance company licensed to operate in the market. Manulife Vietnam is one of the leading life insurers in Vietnam. The company serves nearly 1.5 million customers nationwide through a network of more than 60 offices, nearly 1,000 employees, a strong agency force of over 50,000 agents, and an exclusive bancassurance partnership with VietinBank. In the first half of 2025 alone, Manulife Vietnam paid nearly VND 4,000 billion in insurance benefits to its customers. The company continues to innovate across products, services, digital capabilities, while strengthening the quality of its distribution to provide superior health, financial and retirement protection solutions. Founded in 1888, Asahi Life is the second oldest life insurer in Japan and has established itself as one of Japan’s top 10 life insurance companies, serving over three million customers as a Group with a team of 19,000 employees. Asahi Life views Vietnam as a key growth market and is motivated to expand its presence in the country as a new life insurer, leveraging its core capabilities in life and health insurance, customer service and distribution expertise to build on its experience having operated in Vietnam for eight years through consulting, marketing, sales, and product development partnerships with leading local insurers. Manulife and Asahi Life are committed to ensuring a smooth transition for MVI Life’s customers, partners, and employees throughout this period. All MVI Life policies will continue to be honored, and MVI Life remains committed to serving customers with excellence. The transaction is subject to regulatory approvals and customary closing conditions.”
“ Japan Asahi Mutual Life Insurance to Buy Vietnam Insurer MVI Life (Previously Aviva Vietnam) from Manulife Financial Corporation (Acquired in 2021), MVI Life with $134 Million Net Assets in 2024 Generated $93 Million Premiums in 2024, Asahi Life is Japan 2nd Oldest Insurer & is Top 10 Life Insurance Company in Japan “
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Steve Finch, President & CEO, Manulife Asia: This agreement aligns to our strategic focus and continued commitment to Vietnam. Upon regulatory approval and completion, the transaction will allow us to dedicate our entire focus on serving our customers in the country through Manulife Vietnam, an important market and business for Manulife Asia since 1999. We will continue to provide exceptional customer experience and innovative solutions to address our customers’ longevity needs across protection and financial preparedness. We would also like to recognize and thank MVI Life’s leadership team and its employees for their significant contributions to the business and its customers over the years.”
Manulife – Manulife Financial Corporation is a leading international financial services provider, helping our customers make their decisions easier and lives better. With our global headquarters in Toronto, Canada, we operate as Manulife across Canada, Asia, and Europe, and primarily as John Hancock in the United States, providing financial advice and insurance for individuals, groups and businesses. Through Manulife Wealth & Asset Management, we offer global investment, financial advice, and retirement plan services to individuals, institutions, and retirement plan members worldwide. At the end of 2024, we had more than 37,000 employees, over 109,000 agents, and thousands of distribution partners, serving over 36 million customers. We trade as ‘MFC’ on the Toronto, New York, and the Philippine stock exchanges, and under ‘945’ in Hong Kong.
Manulife Vietnam – As a member of Manulife Financial Corporation from Canada, Manulife Vietnam was the first foreign-invested life insurance company licensed to operate in Vietnam in 1999 and currently has the highest total investment capital in the insurance market. Over the past 26 years, Manulife Vietnam has grown into one of the country’s leading life insurers, supported by a network of more than 60 offices, nearly 1,000 employees, a strong agency force of over 50,000 agents, and an exclusive bancassurance partnership with VietinBank, serving nearly 1.5 million customers nationwide (as of December 31, 2024). Guided by its mission to empower customers to confidently pursue a better life every day, Manulife Vietnam remains committed to delivering innovative, market-leading products and exceptional service to Vietnamese families.
Japan Asahi Mutual Life Insurance to Buy Vietnam Insurer MVI Life (Previously Aviva Vietnam) from Manulife Financial Corporation (Acquired in 2021), MVI Life with $134 Million Net Assets in 2024 Generated $93 Million Premiums in 2024, Asahi Life is Japan 2nd Oldest Insurer & is Top 10 Life Insurance Company in Japan
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