Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Old Republic International Corporation's first-quarter 2025 financial results reflect robust growth and improved profitability across its key business segments.</li><li>The company reported a consolidated pre-tax operating income of $252.7 million, an increase from $231.5 million in the same quarter the previous year.</li><li>The consolidated combined ratio improved slightly to 93.7% from 94.3%, highlighting effective cost management and underwriting discipline.</li></ul>

Old Republic International Corporation's first-quarter 2025 financial results reflect robust growth and improved profitability across its key business segments.The company reported a consolidated pre-tax operating income of $252.7 million, an increase from $231.5 million in the same quarter the previous year.The consolidated combined ratio improved slightly to 93.7% from 94.3%, highlighting effective cost management and underwriting discipline.

Old Republic International: Specialty Insurance Growth to Strongly Influence The Company's Financial Health & Stock Value!

<ul><li>Old Republic International delivered a commendable performance in the fourth quarter of 2024, with consolidated pretax operating income up by 20%, reaching $285 million from $237 million the previous year.</li><li>This increase reflects the strategic focus on Specialty Insurance, which demonstrated significant growth in net premiums earned by 13%, bolstering pretax operating income to $228 million, an increase from $195 million last year.</li><li>The consolidated combined ratio improved slightly to 92.7% from 93.3%, indicating a more efficient underwriting performance, primarily attributed to the Specialty Insurance segment's resilience.</li></ul>

Old Republic International delivered a commendable performance in the fourth quarter of 2024, with consolidated pretax operating income up by 20%, reaching $285 million from $237 million the previous year.This increase reflects the strategic focus on Specialty Insurance, which demonstrated significant growth in net premiums earned by 13%, bolstering pretax operating income to $228 million, an increase from $195 million last year.The consolidated combined ratio improved slightly to 92.7% from 93.3%, indicating a more efficient underwriting performance, primarily attributed to the Specialty Insurance segment's resilience.

Old Republic International: An Insight Into Its Capital Management Approach!

Head of Research, Krungthai XSpring

Waraporn Wiboonkanarak

Head of Research

A full service Thai brokerage

Krungthai XSpring

Krungthai XSpring is a full service broker. The company provides a wide range of investment services such as Securities Brokerage, Derivative Agent Business, Securities Borrowing and Lending, Securities Trading, Underwriting, Financial Advisory, Wealth Advisory, Private Fund Management and International Markets Securities Trading. 

In terms of credibility, Fitch Ratings has assigned Krunghtai XSpring a long-term rating of AA- and a national short-term rating of F1+ with stable outlook.

<ul><li>Technically, the SET Index is expected to move sideways down, with support at 1,420/1,411 points (50-week EMA) and the resistance at 1,437/1,442 points (10/25-day EMA).</li><li>We maintain the recommendation to sell on rallies until a new technical buy signal emerges.</li><li>The outlook for 4Q24 is expected to be the best quarter of the year, driven by the launch of new products and continued sales momentum, including the Apple Watch Series 10, MacBook, and iPad Mini, among others.</li></ul>

Technically, the SET Index is expected to move sideways down, with support at 1,420/1,411 points (50-week EMA) and the resistance at 1,437/1,442 points (10/25-day EMA).We maintain the recommendation to sell on rallies until a new technical buy signal emerges.The outlook for 4Q24 is expected to be the best quarter of the year, driven by the launch of new products and continued sales momentum, including the Apple Watch Series 10, MacBook, and iPad Mini, among others.

Thailand's Current Account Balance and EU Inflation

<ul><li>Old Republic International Corporation reported its third-quarter 2024 earnings, revealing mixed results influenced by a range of market factors.</li><li>The company’s consolidated pretax operating income declined to $229 million, down from $251 million in the prior year.</li><li>Similarly, the consolidated combined ratio rose to 95% from last year’s 92%, indicating a deterioration in underwriting performance.</li></ul>

Old Republic International Corporation reported its third-quarter 2024 earnings, revealing mixed results influenced by a range of market factors.The company’s consolidated pretax operating income declined to $229 million, down from $251 million in the prior year.Similarly, the consolidated combined ratio rose to 95% from last year’s 92%, indicating a deterioration in underwriting performance.

Old Republic International Corporation: Will Its Expansion of Specialty Underwriting Bring A Shift In The Competitive Dynamics? - Major Drivers

<ul><li>In the second quarter of 2024, Old Republic International Corporation showcased a mix of strong financial performance and ongoing challenges.</li><li>The company reported a consolidated pretax operating income of $254 million, an improvement from $227 million in the same period of 2023, indicating a positive trend in profitability.</li><li>The consolidated combined ratio was 93.5%, slightly higher than last year’s 92.6%, but still below 100%, which is a sign of continued underwriting profitability.</li></ul>

In the second quarter of 2024, Old Republic International Corporation showcased a mix of strong financial performance and ongoing challenges.The company reported a consolidated pretax operating income of $254 million, an improvement from $227 million in the same period of 2023, indicating a positive trend in profitability.The consolidated combined ratio was 93.5%, slightly higher than last year’s 92.6%, but still below 100%, which is a sign of continued underwriting profitability.

Old Republic International Corporation: Strategic Acquisitions

United States

Old Republic International Corporation is an insurance holding company whose subsidiaries market, underwrite, and provide risk management services.  The Company provides services for a variety of coverages in the property and liability, mortgage guaranty, title, and life and health insurance fields.

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Old Republic Intl (ORI US)

Old Republic International: Specialty Insurance Growth to Strongly Influence The Company's Financial Health & Stock Value!

Old Republic International Corporation's first-quarter 2025 financial results reflect robust growth and improved profitability across its key...

Baptista Research

Old Republic International: An Insight Into Its Capital Management Approach!

Old Republic International delivered a commendable performance in the fourth quarter of 2024, with consolidated pretax operating income up by 20%,...

Baptista Research

Thailand's Current Account Balance and EU Inflation

Technically, the SET Index is expected to move sideways down, with support at 1,420/1,411 points (50-week EMA) and the resistance at 1,437/1,442...

Krungthai XSpring

Old Republic International Corporation: Will Its Expansion of Specialty Underwriting Bring A Shift In The Competitive Dynamics? - Major Drivers

Old Republic International Corporation reported its third-quarter 2024 earnings, revealing mixed results influenced by a range of market...

Baptista Research

Old Republic International Corporation: Strategic Acquisitions

In the second quarter of 2024, Old Republic International Corporation showcased a mix of strong financial performance and ongoing challenges. The...

Baptista Research

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