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>The Progressive Corporation's recent results reflect a robust financial performance, with multiple factors contributing to the company's current position.</li><li>Several positive aspects stand out, although some challenges and unknowns remain, such as the potential impact of tariffs.</li><li>Progressive reported near-record margins and record growth, driven by an increase in new policies and efficient customer acquisition.</li></ul>

The Progressive Corporation's recent results reflect a robust financial performance, with multiple factors contributing to the company's current position.Several positive aspects stand out, although some challenges and unknowns remain, such as the potential impact of tariffs.Progressive reported near-record margins and record growth, driven by an increase in new policies and efficient customer acquisition.

Progressive Corporation: Diversification & Business Expansion to Contribute To Its Ongoing Growth Efforts!

<ul><li>Progressive Corporation's latest financial results, as discussed in their earnings call, reveal a mix of robust performance and strategic advancements, underscored by their commitment to technology and operational efficiency.</li><li>The company, under the leadership of CEO Tricia Griffith, emphasized their strategic pillars, highlighting the importance of people and culture, as well as competitive pricing achieved through technological investments in their claims processes.</li><li>Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.</li></ul>

Progressive Corporation's latest financial results, as discussed in their earnings call, reveal a mix of robust performance and strategic advancements, underscored by their commitment to technology and operational efficiency.The company, under the leadership of CEO Tricia Griffith, emphasized their strategic pillars, highlighting the importance of people and culture, as well as competitive pricing achieved through technological investments in their claims processes.Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.

Progressive Corporation: Leveraging Advanced Machine Vision Technology to Influence Market Position Positively!

<ul><li>Progressive Corporation's recent investor event highlighted its strategic focus and ongoing efforts to consolidate and grow its market presence, specifically through its direct acquisition channel.</li><li>The event, led by executives including Personal Lines President Pat Callahan and media business leader Jay VanAntwerp, aimed to reaffirm Progressive's commitment to being a leading insurance provider by enhancing customer experience and optimizing media spend.</li><li>Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.</li></ul>

Progressive Corporation's recent investor event highlighted its strategic focus and ongoing efforts to consolidate and grow its market presence, specifically through its direct acquisition channel.The event, led by executives including Personal Lines President Pat Callahan and media business leader Jay VanAntwerp, aimed to reaffirm Progressive's commitment to being a leading insurance provider by enhancing customer experience and optimizing media spend.Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.

The Progressive Corporation: A Tale Of Geographic Expansion and Market Penetration! - Major Drivers

Research and consultancy, Tabbush Report

Daniel Tabbush

Research and consultancy

Tabbush Report

We provide research and consultancy on Asian banks. Our focus is on what we call “Asian bank research, without the noise.” We are interested in the most critical swing-factors for banks, the NPL and credit cycle, and where we believe there is a gap between perception and reality. We often focus on the less studied components of bank financial statements.  Our research is highly thematic, sometimes examining unlisted banks and companies as a window on mainstream banks. 

Being independent allows us to look at smaller banks, often overlooked by others. Analysis of BIS bank guidelines in the context of Asia, is also a focal point, while we also analyze global banks operating in the region. We use what we believe is the most comprehensive, reliable financials database, SNL Financial. S&P Capital IQ augments our database, with corporate data and CEIC, with economics. 

Asian bank research, without the noise.

<ul>
<li>Giant Japan insurer reports staggering June 2024 quarter YoY growth, not only from securities gains, but also strong delta in core premiums written</li>
<li>Weak life insurance premiums is more than offset with well controlled costs, non-life premium income, investment income</li>
<li>Acceleration of cross-shareholding disposals can keep income high, with AFS totaling JPY13.8 trillion with unrealized gains of JPY2.8 trillion</li>
</ul>


Giant Japan insurer reports staggering June 2024 quarter YoY growth, not only from securities gains, but also strong delta in core premiums written
Weak life insurance premiums is more than offset with well controlled costs, non-life premium income, investment income
Acceleration of cross-shareholding disposals can keep income high, with AFS totaling JPY13.8 trillion with unrealized gains of JPY2.8 trillion


Tokio Marine Holdings - Net Profit +54% YoY, Non Life Premiums & Investment Income Are Drivers

<ul><li>Progressive Corporation reported strong first quarter results for 2024, marking a period of robust growth and profitability.</li><li>This quarter was highlighted by an 18% increase in net premiums written and an impressive combined ratio of 86.1%.</li><li>These results represent both growth and a sound strategic approach to rate revisions and risk management, reflective of the company's core values and business strategy.</li></ul>

Progressive Corporation reported strong first quarter results for 2024, marking a period of robust growth and profitability.This quarter was highlighted by an 18% increase in net premiums written and an impressive combined ratio of 86.1%.These results represent both growth and a sound strategic approach to rate revisions and risk management, reflective of the company's core values and business strategy.

The Progressive Corporation: Leveraging Technology for Competitive Pricing! - Major Drivers

United States

The Progressive Corporation is an insurance holding company. The Company, through its subsidiaries, provide personal and commercial automobile insurance and other specialty property-casualty insurance and related services throughout the United States.

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Progressive Corp (PGR US)

Progressive Corporation: Diversification & Business Expansion to Contribute To Its Ongoing Growth Efforts!

The Progressive Corporation's recent results reflect a robust financial performance, with multiple factors contributing to the company's current...

Baptista Research

Progressive Corporation: Leveraging Advanced Machine Vision Technology to Influence Market Position Positively!

Progressive Corporation's latest financial results, as discussed in their earnings call, reveal a mix of robust performance and strategic...

Baptista Research

The Progressive Corporation: A Tale Of Geographic Expansion and Market Penetration! - Major Drivers

Progressive Corporation's recent investor event highlighted its strategic focus and ongoing efforts to consolidate and grow its market presence,...

Baptista Research

Tokio Marine Holdings - Net Profit +54% YoY, Non Life Premiums & Investment Income Are Drivers

Strong 1Q25 net profit, despite natural catastrophes & weak life premiums, with strong non-life, investment income and cost controls, supporting...

Daniel Tabbush

The Progressive Corporation: Leveraging Technology for Competitive Pricing! - Major Drivers

Progressive Corporation reported strong first quarter results for 2024, marking a period of robust growth and profitability. This quarter was...

Baptista Research

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