Asahi Life completes acquisition of Vietnamese life insurer

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According to a statement on October 28, Asahi Life completed the regulatory process to amend MVI Life’s local insurance licence to reflect Asahi Life’s new ownership.

Asahi Life obtained necessary regulatory approvals from the supervisory authorities of both Japan and Vietnam, and completed the payment of approximately $170 million to MVI Life’s parent company, The Manufacturers Life Insurance Company.

In addition, Asahi Life secured approval from the Vietnamese financial authorities to amend the local insurance licence on October 27, 2026, reflecting Asahi Life as the new sole investor. Under this new structure, operations have commenced.

Moving forward, Asahi Life is committed to contributing to the expansion and development of life insurance in Vietnam, as well as enhancing the healthy living and wellbeing of local customers.

On July 31, Asahi Life acquired 100 per cent of the equity interest in MVI Life held by The Manufacturers Life Insurance Company for $170 million. As a result, MVI Life has become a wholly owned subsidiary of Asahi Life.

To drive its upcoming business expansion, the new company has entered into a strategic partnership agreement with LivWell, an organisation founded by professionals with deep experience in managing life insurance companies across Asia.

The new company will synergise the extensive product development expertise in medical and cancer insurance that Asahi Life has cultivated over many years in Japan, with LivWell’s advanced digital technology.

Looking ahead, Asahi Life aims to deepen its collaboration with LivWell, to swiftly deliver innovative insurance products and services that precisely capture the needs of the local market.

Founded in 2019 by, LivWell is a Singapore-based insurtech holding company. Since expanding its operations to Vietnam in 2020, LivWell has specialised in providing healthcentric insurance services and corporate wellness platforms.

Leveraging advanced technology, the company operates a healthcare mobile application and drives insurance distribution businesses, with a primary strategic focus on the Vietnamese market.

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