MB AGEAS LIFE INSURANCE COMPANY LIMITED

MB AGEAS LIFE INSURANCE COMPANY LIMITED (CÔNG TY TRÁCH NHIỆM HỮU HẠN BẢO HIỂM NHÂN THỌ MB AGEAS), tax code 0107520795, is a dynamic life insurer based in Vietnam with over 8 years of operation. Headquartered at Floor 15, No. 21, Cat Linh Street, Cat Linh Ward, Dong Da District, Ha Noi City, the company is jointly owned by three significant financial institutions: Military Commercial Joint Stock Bank (61%), Ageas Insurance International NV (29%) from the Netherlands, and Muang Thai Life Insurance (10%) from Thailand.

In 2023, the company reported total assets of USD 458.35 million, reflecting a continued expansion, though at a slower growth rate of 16.64% compared to previous years. However, total sales fell sharply to USD 190.88 million, down 27.35%, signaling a considerable contraction in new premium inflows or policy revenue. This sales drop follows steady growth in 2021 and 2022, raising caution about market competitiveness or internal distribution challenges.

Despite the revenue contraction, profitability rebounded strongly, with net profit nearly doubling to USD 5.03 million, after a steep decline in 2022. This recovery—up 97.6% year-over-year—suggests that cost control or investment returns have improved, stabilizing the company's bottom line. Owner's equity rose modestly to USD 77.81 million, while net worth reached USD 65.81 million, indicating a solid capital base and prudent financial management.

With a paid-up charter capital of USD 61.62 million and a workforce of 430 employees, MB AGEAS LIFE continues to focus on life and health insurance products along with investment-linked services. The leadership team, headed by Chairwoman Ms. NGUYEN THI THUY and General Director Mr. VU HONG PHU, is tasked with navigating a competitive and evolving insurance landscape while preserving profitability and policyholder trust.

Although the company maintains a strong balance sheet and regained profitability in 2023, the significant drop in revenue is a critical indicator to monitor. Sustained investment in distribution, product innovation, and digital transformation will be key for MB AGEAS LIFE INSURANCE COMPANY LIMITED to maintain long-term resilience and regain market momentum.