Fundamental Analysis
63 / 100Rubric: Insurance — Non-life▲ 8,6% ΔFA vs prior quarter
Total FA /100 = Common foundation /50 + Specialist capability /38 + Valuation /12 · Filed: 11/08/2026
COMMON FOUNDATION — 50 POINTS
| C1 · Tăng trưởng EPS YoY | 9,67 % | 3 / 10 |
| C2 · Số quý EPS tăng trưởng | 2,00 quý | 7 / 10 |
| C3 · Tăng trưởng doanh thu bảo hiểm YoY | 37,58 % | 10 / 10 |
| C4 · ROE TTM cổ đông mẹ | 12,42 % | 7 / 10 |
| C5 · Xu hướng đệm vốn | −5,88 % | 3 / 10 |
| Common foundation | 30 / 50 |
NON-LIFE CAPABILITY — 38 POINTS
| P1 · Insurance operating margin | 12,71 % | 9 / 12 |
| P2 · Δ Insurance operating margin YoY | −2,80 điểm % | 3 / 10 |
| P3 · Net investment yield TTM | 6,78 % | 8 / 8 |
| P4 · Gross reserve coverage | 1,15 lần | 4 / 8 |
| Specialist capability | 24 / 38 |
VALUATION — 12 POINTS
| Relative P/B | 0,81 lần | |
| Score | 9 / 12 |
QUARTERLY RESULTS
| Net insurance revenue for the quarter — the same line C3 scores | 1.349,7 bn VND | +37,6% |
| Net profit for the quarter, parent shareholders — the scope behind EPS and C4 | 92,2 bn VND | +9,7% |
Financial charts
1.Premium Structure & Retention
tỷ VND · retention %3.114Q2/26
1.Premium Structure & Retention
tỷ VND · retention %3.114Q2/26
2.Claims & Operating Expense Structure
tỷ VND · loss & expense ratio %28.6%Q2/26
3.Cost of Float vs Benchmark
combined ratio % · cost of float vs 12M deposit %-1.5%Q2/26
4.Net Float & Float Leverage
tỷ VND · leverage ×1.121Q2/26
5.Earning Assets & Investment Yield
tỷ VND · YEA %6.338Q2/26
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 %2.448Q2/26
7.Asset Quality & Adjusted Book Value
tỷ VND · đồng per share3.725Q2/26
8.Dual Profit Engine & ROE Decomposition
ROE % · combined ratio %12.4%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 %1.017Q2/26
Source: vnstockData through Q2/26