Offshore
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Simplifying Stocks, CPA
RT @FinFluentialx: S&P 500 Tops 6,500 on Signs Economy in Good Shape https://t.co/5p2aPlZpPS
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RT @FinFluentialx: S&P 500 Tops 6,500 on Signs Economy in Good Shape https://t.co/5p2aPlZpPS
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Offshore
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Umesh
nano-banana can generate an accurate action figure set from a picture!
love how it adds suitable text without needing any input! https://t.co/7fBvg1P3zA
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nano-banana can generate an accurate action figure set from a picture!
love how it adds suitable text without needing any input! https://t.co/7fBvg1P3zA
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Offshore
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Aadit Sheth
This channel literally shows you how to build with AI from scratch https://t.co/Nystbqen30
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This channel literally shows you how to build with AI from scratch https://t.co/Nystbqen30
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Julian Goldie SEO
Google Gemini FULL COURSE 5 HOURS (Build & Automate Anything) https://t.co/MPTWLGnN2O
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Google Gemini FULL COURSE 5 HOURS (Build & Automate Anything) https://t.co/MPTWLGnN2O
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Offshore
Video
Gainify
RT @DividendDude_X: This video just makes me want to own Ethereum $ETH. WOW. 🤯
https://t.co/WyA9RrnkX3
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RT @DividendDude_X: This video just makes me want to own Ethereum $ETH. WOW. 🤯
https://t.co/WyA9RrnkX3
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Offshore
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Gainify
RT @nataninvesting: $BABA EARNINGS ARE OUT!
Taobao Tmall customer management +10% ✅
CLOUD +26% Y/Y!!! 🤯
"AI related revenue grew triple digit for 8 consecutive quarters" https://t.co/Tnu4jTVhTL
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RT @nataninvesting: $BABA EARNINGS ARE OUT!
Taobao Tmall customer management +10% ✅
CLOUD +26% Y/Y!!! 🤯
"AI related revenue grew triple digit for 8 consecutive quarters" https://t.co/Tnu4jTVhTL
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Dalius - Special Sits
The saga with the monetization of Fortegra over at $TIPT might finally be coming to an end, with potential upside of 20%+ in a sale scenario.
Rumors circulated that South Korean insurance company DB Insurance was negotiating a potential deal with TIPT for Fortegra. This was later confirmed when DB initiated discussions with local regulators and informed them that it is in negotiations with TIPT regarding Fortegra. DB also recently raised equity, which is likely to be used for the acquisition.
Given the situation, we may see a potential deal announced over the next few weeks. Fortegra is a fast-growing insurance company, with most of its growth coming from E&S exposure. The company has robust earnings and operating metrics, including an ROAE of 30% and a very stable ~90% combined ratio despite its high growth, alongside clear intentions from management to monetize the asset.
Warburg Pincus, which owns 30% of Fortegra, has likely been pushing for monetization over the last couple of years. However, the company has failed to carry out an IPO twice for various reasons. As a result, they are now pursuing a sale—likely before 2026, when WP would be able to force an IPO.
While a sale is not the most tax-efficient way to monetize Fortegra, given the two failed IPO attempts, it could be the last resort. Based on peer multiples and the quality of Fortegra’s operations, an exit at 15x P/E could result in ~25% upside from current levels.
The key risk is if a sale comes in around the rumored price of $1.5bn for Fortegra. In that scenario, unless management liquidates its small asset management business and eliminates all corporate costs, there could be as much as 30% downside from current levels. However, I find it unlikely that a high-quality operation such as Fortegra would be sold at an implied 9x P/E, so this seems like a low-probability outcome. If a sale is completed around 13.5x P/E, the valuation at which WP originally invested, the market is already pricing the situation fairly accurately, meaning downside should be limited.
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The saga with the monetization of Fortegra over at $TIPT might finally be coming to an end, with potential upside of 20%+ in a sale scenario.
Rumors circulated that South Korean insurance company DB Insurance was negotiating a potential deal with TIPT for Fortegra. This was later confirmed when DB initiated discussions with local regulators and informed them that it is in negotiations with TIPT regarding Fortegra. DB also recently raised equity, which is likely to be used for the acquisition.
Given the situation, we may see a potential deal announced over the next few weeks. Fortegra is a fast-growing insurance company, with most of its growth coming from E&S exposure. The company has robust earnings and operating metrics, including an ROAE of 30% and a very stable ~90% combined ratio despite its high growth, alongside clear intentions from management to monetize the asset.
Warburg Pincus, which owns 30% of Fortegra, has likely been pushing for monetization over the last couple of years. However, the company has failed to carry out an IPO twice for various reasons. As a result, they are now pursuing a sale—likely before 2026, when WP would be able to force an IPO.
While a sale is not the most tax-efficient way to monetize Fortegra, given the two failed IPO attempts, it could be the last resort. Based on peer multiples and the quality of Fortegra’s operations, an exit at 15x P/E could result in ~25% upside from current levels.
The key risk is if a sale comes in around the rumored price of $1.5bn for Fortegra. In that scenario, unless management liquidates its small asset management business and eliminates all corporate costs, there could be as much as 30% downside from current levels. However, I find it unlikely that a high-quality operation such as Fortegra would be sold at an implied 9x P/E, so this seems like a low-probability outcome. If a sale is completed around 13.5x P/E, the valuation at which WP originally invested, the market is already pricing the situation fairly accurately, meaning downside should be limited.
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