A Manulfie building. In the first half of 2025 alone, Manulife Vietnam paid nearly VNĐ4 trillion in insurance benefits to its customers. — Photo courtesy of the company 

HCM CITY — Manulife Financial Corporation, through its direct subsidiary The Manufacturers Life Insurance Company (Manulife), 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 $134 million as of the end of 2024.

Following the transaction, Manulife will continue its long-term commitment to Việt Nam through Manulife Vietnam, a business entity established in 1999 as the first foreign-owned life insurance company licensed to operate in the market.

“This agreement aligns to our strategic focus and continued commitment to Việt Nam. 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," said Steve Finch, President & CEO of Manulife Asia.

 "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,”  he said. 

Manulife Vietnam is one of the leading life insurers in Việt Nam. 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 VNĐ4 trillion 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 Việt Nam 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 Việt Nam 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. — VNS