MANULIFE (VIETNAM) COMPANY LIMITED

As analyzed by VANGUARD BUSINESS INFORMATION LLC (VBI), MANULIFE (VIETNAM) COMPANY LIMITED is a major player in Vietnam’s life insurance and financial investment sector. The company operates as a foreign direct investment (FDI) entity and is a subsidiary of MANULIFE FINANCIAL CORPORATION, a Canada-based global financial services provider. Registered under Business ID 13/GPDC/KDBH, it was established on January 24, 2005, and has been in operation for over 20 years. Headquartered at Manulife Plaza, No. 75, Hoang Van Thai Street, Tan Phu Ward, District 7, Ho Chi Minh City, Vietnam, the company also maintains branches in Hanoi, Dong Nai, and Tien Giang, expanding its national presence.

Financial Performance and Business Growth

According to VBI’s corporate financial analysis, MANULIFE (VIETNAM) COMPANY LIMITED has shown significant financial growth despite challenges in revenue generation. As of December 31, 2023, the company reported total assets of USD 4.87 billion, marking an 11.52% year-over-year increase. Its owner’s equity rose by 17.52% to USD 1.15 billion, reflecting strong financial stability.

However, total sales saw a 20.02% decline, dropping to USD 864.87 million in 2023, compared to USD 1.08 billion in 2022. Despite this, the company achieved a profit of USD 134.35 million, representing a 27.64% increase from the previous year. This turnaround from previous financial losses highlights effective business risk management and cost optimization strategies, as observed by VBI’s risk intelligence services.

Corporate Structure and Management

MANULIFE (VIETNAM) COMPANY LIMITED is a limited liability company with full ownership by MANULIFE FINANCIAL CORPORATION (Canada). The company is managed by a team of experienced executives, including:

• Kimberly Wade Fleming (General Director, Canadian)
• Tran Thi Kim Cuong (General Director, Vietnamese)
• Koh Hoe Shin (Director, Singaporean)

With 810 employees, the company plays a crucial role in Vietnam’s insurance market, providing a broad range of life insurance and investment products. As detailed in VBI’s business intelligence reports, MANULIFE (VIETNAM) COMPANY LIMITED maintains a strong leadership position, leveraging foreign expertise and local market knowledge.

Business Activities and Market Position

As reported in VBI’s due diligence assessments, MANULIFE (VIETNAM) COMPANY LIMITED specializes in trading life insurance and financial investments. The company’s registered business activity is life insurance, which aligns with its parent company’s global strategy. With its expansive market presence and diverse insurance products, the company remains one of Vietnam’s leading life insurance providers.

Challenges and Future Outlook

Based on VBI’s market intelligence and competitive analysis, MANULIFE (VIETNAM) COMPANY LIMITED faces challenges in revenue growth, as indicated by its 20.02% decline in total sales in 2023. This downturn suggests shifts in consumer demand, regulatory impacts, or market competition. However, the company’s profitability growth (27.64%) and equity expansion (17.52%) demonstrate its financial resilience.

To maintain its competitive advantage and business sustainability, VBI recommends strategic measures such as:

• Expanding digital insurance solutions to cater to evolving customer needs.
• Enhancing risk assessment and financial stability strategies to mitigate market volatility.
• Strengthening customer retention and acquisition strategies through innovative insurance products.

With a solid financial foundation and robust corporate governance, MANULIFE (VIETNAM) COMPANY LIMITED is well-positioned for long-term growth in Vietnam’s evolving financial services industry. VANGUARD BUSINESS INFORMATION LLC (VBI) will continue to monitor its financial stability, business risks, and market trends, ensuring comprehensive insights for industry stakeholders.