Asahi Life completes acquisition of Vietnamese life insurer
Asahi Mutual Life Insurance Company has completed the acquisition process to turn Vietnamese life insurance company MVI Life Co Ltd into a wholly owned subsidiary
On October 28, Asahi Life finalized the regulatory process to amend MVI Life's local insurance license, reflecting its new ownership. The Japanese insurer obtained necessary approvals from both Japanese and Vietnamese supervisory authorities and paid around $170 million to MVI Life's parent company, The Manufacturers Life Insurance Company.
On October 27, 2026, Asahi Life secured approval for the amendment of the local insurance license, making it the sole investor. With this new structure, operations commenced immediately.
Asahi Life's acquisition of 100% of MVI Life's equity from The Manufacturers Life Insurance Company for $170 million was completed on July 31. Consequently, MVI Life became a wholly-owned subsidiary of Asahi Life. The new company has partnered with LivWell, a Singapore-based insurtech holding company, to leverage its advanced digital technology and product development expertise in medical and cancer insurance.
Asahi Life aims to expand its business by collaborating closely with LivWell to deliver innovative insurance products and services tailored to the local market's needs. Founded in 2019, LivWell is a Singapore-based insurtech holding company that specializes in health-centric insurance services and corporate wellness platforms since its expansion to Vietnam in 2020.
Leveraging advanced technology, LivWell operates a healthcare mobile application and drives insurance distribution businesses, focusing primarily on the Vietnamese market.
In related news, Manulife announced its decision to sell its separate life insurance unit, MVI Life, to Japan's Asahi Mutual Life Insurance Company. Meanwhile, FWD, an insurance group, sees Vietnam as a key market in its Asian growth strategy. On August 24, Deputy Minister Le Tan Can met with a delegation from FWD to discuss potential cooperation. Additionally, PVI Insurance and Kasikornbank have signed a memorandum of understanding (MoU) in Thailand, signaling a deeper collaboration between the two companies.
Written by urgent.news from Vietnam Investment Review's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
