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Manulife sells its Vietnam life unit MVI Life to Japan’s Asahi Mutual Life, pending approval, to focus on its core business.
Manulife has agreed to sell its Vietnam life insurance unit, MVI Life, to Japan’s Asahi Mutual Life Insurance Company, pending regulatory approval.
MVI Life, formerly Aviva Vietnam and acquired by Manulife in 2021, generated about $93 million in premiums and held $134 million in net assets by late 2024.
The sale allows Manulife to focus on its core business in Vietnam, Manulife Vietnam, which serves nearly 1.5 million customers through over 60 offices, 50,000 agents, and a partnership with VietinBank, paying out nearly VND4 trillion in benefits in early 2025.
Asahi Mutual Life, a top 10 Japanese insurer founded in 1888, plans to expand in Vietnam using its expertise in life and health insurance and customer service.
Both companies committed to a smooth transition, ensuring all MVI Life policies remain honored.
Manulife vende su unidad de vida en Vietnam MVI Life a Asahi Mutual Life de Japón, pendiente de aprobación, para centrarse en su negocio principal.