Military Insurance Balance Sheet

Financials in millions VND. Fiscal year is January - December.

Millions VND. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Jan '24 Jan 1, 2024	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Investments in Debt Securities	-	-	-	200,000	305,000
Other Investments	5,093,000	4,263,000	3,872,022	3,411,083	3,104,174
Total Investments	5,093,000	4,263,000	3,872,022	3,611,083	3,409,174
Cash & Equivalents	227,398	329,566	181,584	91,662	8,613
Reinsurance Recoverable	2,747,370	2,727,096	2,177,517	2,136,485	1,460,435
Other Receivables	364,658	191,971	285,823	648,918	262,608
Property, Plant & Equipment	422,209	469,443	419,371	398,332	408,707
Other Intangible Assets	107,452	54,761	37,587	27,072	22,452
Other Current Assets	2,286,362	1,769,016	1,813,002	1,592,684	943,130
Long-Term Deferred Tax Assets	6.52	-	-	284.54	-
Other Long-Term Assets	25,791	30,094	32,259	38,550	80,040
Total Assets	11,274,247	9,834,946	8,819,165	8,545,071	6,595,158
Accounts Payable	-	-	-	7,748	37,146
Accrued Expenses	359,509	190,104	205,085	205,227	192,943
Insurance & Annuity Liabilities	694,893	444,722	526,842	637,541	159,465
Unpaid Claims	-	-	-	1,066,941	802,690
Unearned Premiums	4,293,599	4,272,978	2,943,318	2,786,002	2,144,564
Reinsurance Payable	-	-	29,286	-	239,880
Current Income Taxes Payable	27,675	34,600	34,686	-	14,667
Long-Term Deferred Tax Liabilities	-	58.98	300.06	-	-
Other Current Liabilities	2,481,998	2,383,222	1,692,919	620,603	563,441
Other Long-Term Liabilities	27,974	27,974	27,974	28,493	28,314
Total Liabilities	8,646,523	7,704,687	6,737,906	6,652,691	4,847,317
Common Stock	2,115,035	1,726,725	1,726,725	1,644,500	1,430,000
Retained Earnings	512,689	403,535	354,534	247,881	317,841
Shareholders' Equity	2,627,724	2,130,260	2,081,259	1,892,381	1,747,841
Total Liabilities & Equity	11,274,247	9,834,946	8,819,165	8,545,071	6,595,158
Filing Date Shares Outstanding	211.5	181.31	193.32	181.31	181.31
Total Common Shares Outstanding	211.5	181.31	193.32	181.31	181.31
Net Cash (Debt)	227,398	329,566	181,584	91,662	8,613
Net Cash Growth	-31.00%	81.49%	98.10%	964.27%	-28.74%
Net Cash Per Share	1075.15	1704.77	939.30	505.57	47.50
Book Value Per Share	12424.02	11749.52	10765.88	10437.49	9640.28
Tangible Book Value	2,520,272	2,075,499	2,043,672	1,865,309	1,725,390
Tangible Book Value Per Share	11915.98	11447.48	10571.46	10288.17	9516.44
Buildings	57,040	57,040	57,040	57,040	57,040
Machinery	80,121	80,486	34,114	36,112	36,283
Construction In Progress	350,934	385,512	372,908	345,963	349,935

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Insurance template. Financial Sources.