In 2024, Manulife Vietnam maintained its business efficiency with a post-tax profit of VND 3,334 billion, a 2% increase from 2023. Investment activities played a significant role in this achievement, as profits from financial investments surged by 39% compared to the previous year. Achievements in digitization, cost management, and enhanced business quality also contributed effectively to profit growth.
The efficient business operations have helped Manulife Vietnam further strengthen its financial position. As of the end of 2024, the company’s total assets increased by 15.5%, reaching VND 137,049 billion. The company maintained its leading position in terms of capital scale in the life insurance market with a charter capital of VND 22,220 billion.
Reaffirming its strong commitment to standing by its customers in life’s uncertainties, in 2024, Manulife Vietnam paid out VND 7,884 billion in claims and insurance benefits to its customers. Nearly 500,000 claim requests were processed, with an average processing time of 1.2 days.
Commitment to Transparency and Continuous Innovation for Daily Improvement
With a customer-centric approach, Manulife Vietnam has continuously introduced innovative solutions in products, services, and technology to strengthen trust and enhance customer experience, while also fostering the professional development of the market.
In 2024, the company implemented the M-Pro process and a smart recording system to ensure comprehensive and transparent advice for customers. They also upgraded their automated call center system (IVR) and extended the service hours. Additionally, Manulife Vietnam invested in upgrading transaction offices nationwide, offering a refreshing experience to its customers.
Furthermore, the Manulife Vietnam mobile application was launched in August 2024, enabling customers to conveniently conduct most insurance-related transactions online. To meet the diverse health and life insurance needs of its customers, Manulife introduced two new products: the term life insurance product ‘An Tâm Vui Sống 2.0’ and the health insurance product ‘Sống Khỏe Mỗi Ngày’ (2024 version).
Notably, at the beginning of 2025, the company deployed the M-PS (Manulife Promoter System) survey system, allowing them to receive customer feedback anytime, anywhere, and promptly address their queries.
Manulife Global Group Maintains Impressive Growth
Manulife Global Group also announced its impressive business results for 2024, with significant growth in several key business indicators.
Specifically, the group’s core profit (Core earnings) for the year reached CAD 7.2 billion, an 8% increase from 2023. Indicators such as Annual Premium Equivalent (APE), New Business Contribution Margin (New Business CSM), and New Business Value (NBV) all achieved growth rates above 30% compared to the previous year.
In Asia, Manulife continued its strong momentum in 2024, with a 27% increase in core profit compared to 2023. The APE, New Business CSM, and NBV indicators grew by 36%, 38%, and 35%, respectively, thanks to the growth in most Asian markets, led by Hong Kong.
A notable highlight for Manulife Group in 2024 was the enhanced application of generative AI in its business operations, recognizing the strong development and value of these models. The group successfully implemented 27 AI projects and is currently working on an additional 32 AI initiatives. Through digital initiatives aimed at enhancing customer experience, Manulife’s customer satisfaction index (rNPS) increased by 4 points compared to 2023, while the straight-through processing rate reached 89%, surpassing its target.
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