Manulife to sell MVI Life to Japan’s Asahi Life

Asahi Life, Japan’s second oldest life insurer, seeks to expand its presence in Vietnam.

Manulife Financial Corporation has agreed to sell MVI Life to Asahi Mutual Life Insurance Company for an undisclosed amount.

Manulife acquired MVI Life, formerly Aviva Vietnam, in 2021. It is separate and independently operated from Manulife Vietnam.

MVI Life generated insurance premiums of approximately $93m in 2024 and had net assets of $134m as of end-2024, Manulife said in a press release on 30 November 2025.

Upon regulatory approval and completion, the transaction will allow Manulife to dedicate its entire focus on Manulife Vietnam, said Steven Finch, president and CEO of Manulife Asia.

Asahi Life is the second oldest life insurer in Japan and one of Japan’s top 10 life insurance companies. The company reportedly views Vietnam as a key growth market and seeks to expand its presence in the country as a new life insurer, according to Manulife.

Manulife Vietnam, meanwhile, has over 1.5 million customers across 60 offices and nearly 1,000 employees and 50,000 agents. It also has an exclusive bancassurance partnership with VietinBank.