Fundamental Analysis
57 / 100Rubric: Insurance — Non-life▲ 11,8% ΔFA vs prior quarter
Total FA /100 = Common foundation /50 + Specialist capability /38 + Valuation /12 · Filed: 29/07/2026
COMMON FOUNDATION — 50 POINTS
| C1 · Tăng trưởng EPS YoY | −25,53 % | 0 / 10 |
| C2 · Số quý EPS tăng trưởng | 0,00 quý | 0 / 10 |
| C3 · Tăng trưởng doanh thu bảo hiểm YoY | 0,61 % | 3 / 10 |
| C4 · ROE TTM cổ đông mẹ | 13,33 % | 7 / 10 |
| C5 · Xu hướng đệm vốn | 2,16 % | 7 / 10 |
| Common foundation | 17 / 50 |
NON-LIFE CAPABILITY — 38 POINTS
| P1 · Insurance operating margin | 23,92 % | 12 / 12 |
| P2 · Δ Insurance operating margin YoY | 1,67 điểm % | 6 / 10 |
| P3 · Net investment yield TTM | 5,73 % | 8 / 8 |
| P4 · Gross reserve coverage | 1,76 lần | 8 / 8 |
| Specialist capability | 34 / 38 |
VALUATION — 12 POINTS
| Relative P/B | 0,97 lần | |
| Score | 6 / 12 |
QUARTERLY RESULTS
| Net insurance revenue for the quarter — the same line C3 scores | 1.127,8 bn VND | +0,6% |
| Net profit for the quarter, parent shareholders — the scope behind EPS and C4 | 128,3 bn VND | −25,5% |
Financial charts
1.Premium Structure & Retention
tỷ VND · retention %4.011Q2/26
1.Premium Structure & Retention
tỷ VND · retention %4.011Q2/26
2.Claims & Operating Expense Structure
tỷ VND · loss & expense ratio %30.4%Q2/26
3.Cost of Float vs Benchmark
combined ratio % · cost of float vs 12M deposit %-3.5%Q2/26
4.Net Float & Float Leverage
tỷ VND · leverage ×1.492Q2/26
5.Earning Assets & Investment Yield
tỷ VND · YEA %7.569Q2/26
Methodology: earning assets are standardised into five structural groups taken from the balance sheet, so every figure is reproducible from the published statements. YEA measures trailing-twelve-month net investment income against the earning assets held at the START of that window.
6.Solvency Margin & Surplus Capital
tỷ VND · solvency ratio %3.513Q2/26
7.Asset Quality & Adjusted Book Value
tỷ VND · đồng per share4.272Q2/26
8.Dual Profit Engine & ROE Decomposition
ROE % · combined ratio %13.3%Q2/26
9.P/B & P/ABV Valuation Bands
times0,9×Q2/26
10.Cash Flow, Dividends & Total Shareholder Return
tỷ VND · yield, payout & TSR %-20,7Q2/26
Source: vnstockData through Q2/26