Fundamental Analysis
66 / 100Rubric: Insurance — Reinsurance▼ 2,9% 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 | 24,08 % | 10 / 10 |
| C2 · Số quý EPS tăng trưởng | 2,00 quý | 7 / 10 |
| C3 · Tăng trưởng doanh thu bảo hiểm YoY | 18,92 % | 10 / 10 |
| C4 · ROE TTM cổ đông mẹ | 16,03 % | 10 / 10 |
| C5 · Xu hướng đệm vốn | −1,53 % | 3 / 10 |
| Common foundation | 40 / 50 |
REINSURANCE CAPABILITY — 38 POINTS
| R1 · Reinsurance underwriting margin | 5,85 % | 8 / 12 |
| R2 · Δ Reinsurance underwriting margin YoY | 0,24 điểm % | 6 / 10 |
| R3 · Risk retention ratio | 52,67 % | 6 / 8 |
| R4 · Investment yield on insurance assets | 6,00 % | 6 / 8 |
| Specialist capability | 26 / 38 |
VALUATION — 12 POINTS
| Relative P/B | 1,37 lần | |
| Score | 0 / 12 |
QUARTERLY RESULTS
| Net insurance revenue for the quarter — the same line C3 scores | 550,8 bn VND | +18,9% |
| Net profit for the quarter, parent shareholders — the scope behind EPS and C4 | 62,8 bn VND | +24,1% |
Financial charts
1.Premium Structure & Retention
tỷ VND · retention %1.495Q2/26
1.Premium Structure & Retention
tỷ VND · retention %1.495Q2/26
2.Claims & Operating Expense Structure
tỷ VND · loss & expense ratio %48.9%Q2/26
3.Cost of Float vs Benchmark
combined ratio % · cost of float vs 12M deposit %-6.8%Q2/26
4.Net Float & Float Leverage
tỷ VND · leverage ×0,00Q2/26
Raw net float is negative for this period and is drawn at zero; no leverage is reported.
5.Earning Assets & Investment Yield
tỷ VND · YEA %4.480Q2/26
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 %1.792Q2/26
7.Asset Quality & Adjusted Book Value
tỷ VND · đồng per share2.367Q2/26
8.Dual Profit Engine & ROE Decomposition
ROE % · combined ratio %16.0%Q2/26
9.P/B & P/ABV Valuation Bands
times1,3×Q2/26
10.Cash Flow, Dividends & Total Shareholder Return
tỷ VND · yield, payout & TSR %392Q2/26
Source: vnstockData through Q2/26