Latest news with #PassportCard
Yahoo
21-07-2025
- Business
- Yahoo
AM Best Assigns Credit Ratings to DavidShield Insurance Company
LONDON, July 21, 2025--(BUSINESS WIRE)--AM Best has assigned a Financial Strength Rating of B++ (Good) and a Long-Term Issuer Credit Rating of "bbb+" (Good) to DavidShield Insurance Company (DSIC) (Israel). DSIC is a wholly owned subsidiary of DavidShield PassportCard Ltd (PassportCard Group), which is ultimately majority-owned by its parent company, White Mountains Insurance Group, Ltd. (WTM) [NYSE: WTM]. The outlook assigned to these Credit Ratings (ratings) is stable. The ratings reflect DSIC's balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management. The ratings also consider the explicit support received from WTM. DSIC's balance sheet strength is underpinned by its risk-adjusted capitalisation at the strongest level, as measured by Best's Capital Adequacy Ratio (BCAR). The company benefits from a conservative investment portfolio, as well as good financial flexibility from WTM and a strong liquidity profile. As per its business model as a fronting company, DSIC is highly dependent on reinsurance; however, this is mitigated partially by the use of highly rated reinsurance partners, with the lead reinsurer having a long-standing, strategic relationship with the company. The balance sheet assessment additionally considers the moderate debt leverage within the wider PassportCard Group. DSIC's profitability is driven by robust reinsurance commissions and fee income, as evidenced by a five-year (2020-2024) weighted average return on capital and surplus of 23.7%. The company does not retain any underwriting risk. Its earnings have been growing steadily, albeit from a small base, with a compound annual growth rate in before-tax profits of 14.2% in the four years to 2024. DSIC's book of business has a long history of excellent gross underwriting performance (gross of reinsurance), which ultimately benefits DSIC through reinsurance commissions. The company's stable investment income further supports its overall operating performance. AM Best's performance analysis includes consideration of the wider PassportCard Group, which has been constrained as it invests in geographic diversification. AM Best expects the PassportCard Group to become sustainably profitable over the short-to-medium term as its foreign business gains scale. DSIC is a fronting insurer for the PassportCard Group, specialising in travel and international private medical insurance. The company is the market leader for these lines in Israel, with its success driven by its innovative technological customer solutions, primarily the PassportCard product. Whilst it is concentrated in two lines of business, the company benefits from diversification through the geographical spread of its policyholders. It also has a growing insurance administration services business with large international companies that are looking to leverage their unique technology. This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments. AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit Copyright © 2025 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED. View source version on Contacts Patrick McCrystal Financial Analyst +44 20 3808 2988 Jessica Botelho-Young, CA Director, Analytics +44 20 7397 0310 Christopher Sharkey Associate Director, Public Relations +1 908 882 2310 Al Slavin Senior Public Relations Specialist +1 908 882 2318 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
21-07-2025
- Business
- Business Wire
AM Best Assigns Credit Ratings to DavidShield Insurance Company
LONDON--(BUSINESS WIRE)-- AM Best has assigned a Financial Strength Rating of B++ (Good) and a Long-Term Issuer Credit Rating of 'bbb+' (Good) to DavidShield Insurance Company (DSIC) (Israel). DSIC is a wholly owned subsidiary of DavidShield PassportCard Ltd (PassportCard Group), which is ultimately majority-owned by its parent company, White Mountains Insurance Group, Ltd. (WTM) [NYSE: WTM]. The outlook assigned to these Credit Ratings (ratings) is stable. The ratings reflect DSIC's balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management. The ratings also consider the explicit support received from WTM. DSIC's balance sheet strength is underpinned by its risk-adjusted capitalisation at the strongest level, as measured by Best's Capital Adequacy Ratio (BCAR). The company benefits from a conservative investment portfolio, as well as good financial flexibility from WTM and a strong liquidity profile. As per its business model as a fronting company, DSIC is highly dependent on reinsurance; however, this is mitigated partially by the use of highly rated reinsurance partners, with the lead reinsurer having a long-standing, strategic relationship with the company. The balance sheet assessment additionally considers the moderate debt leverage within the wider PassportCard Group. DSIC's profitability is driven by robust reinsurance commissions and fee income, as evidenced by a five-year (2020-2024) weighted average return on capital and surplus of 23.7%. The company does not retain any underwriting risk. Its earnings have been growing steadily, albeit from a small base, with a compound annual growth rate in before-tax profits of 14.2% in the four years to 2024. DSIC's book of business has a long history of excellent gross underwriting performance (gross of reinsurance), which ultimately benefits DSIC through reinsurance commissions. The company's stable investment income further supports its overall operating performance. AM Best's performance analysis includes consideration of the wider PassportCard Group, which has been constrained as it invests in geographic diversification. AM Best expects the PassportCard Group to become sustainably profitable over the short-to-medium term as its foreign business gains scale. DSIC is a fronting insurer for the PassportCard Group, specialising in travel and international private medical insurance. The company is the market leader for these lines in Israel, with its success driven by its innovative technological customer solutions, primarily the PassportCard product. Whilst it is concentrated in two lines of business, the company benefits from diversification through the geographical spread of its policyholders. It also has a growing insurance administration services business with large international companies that are looking to leverage their unique technology. This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments.
New York Post
05-06-2025
- Entertainment
- New York Post
Labubu owners are considering insuring their coveted plushies to protect toys from theft
The world has officially gone mad. Mad about a little monster plushie known as the Labubu. If you have a tween or teen child, chances are you've heard a lot about them already. Or maybe you're even housing a few already. The monster fuzzies, which were created by Hong Kong designer Kasing Lungare and often seen dangling off designer handbags of celebrities around the globe, are now so in demand that there has been a rise in thefts. A rise in thefts means people are now forced to consider insuring their precious little toys. Trust me, I also wish this were fake news! 4 Labubus are often seen dangling off designer handbags of celebrities around the globe, leading to a rise in thefts. JESSICA LEE/EPA-EFE/Shutterstock Protect your Labubu at all costs According to a new report from travel insurance company, PassportCard, one in three Millennials or Gen Zers have considered taking out travel insurance to protect their precious Labubu when travelling abroad. But don't go calling THEM crazy. The trend of protection is on the rise, with many believing Labubus will be a huge target as people head over to Europe to enjoy the summer, which in fact makes those wanting to protect their plushies as the smart ones. 4 One in three Millennials or Gen Zers have considered taking out travel insurance to protect their precious Labubu when travelling abroad. JESSICA LEE/EPA-EFE/Shutterstock 'It might seem ridiculous to insure a toy, but it speaks volumes about how emotionally invested people are in what they pack,' PassportCard Australia chief Peter Klemt said. 'When you consider some Labubus are now selling for nearly $652 (1,000 AUD) on resale sites, it makes sense why they want to protect them.' Labubu megafan fan, Olivia Bubalao, admitted she was one of those people who took out insurance during a recent three-week trip to Europe to protect her precious toy. 'I've been hearing about many people having theirs stolen and so I did some research and, once I found an insurance package that included my Labubu in personal items of value, then it was a no-brainer,' the 24-year-old told the Daily Telegraph, 4 The monster fuzzies were created by Hong Kong designer Kasing Lungare. AFP via Getty Images Fellow collector, Rachael Clayton, also revealed that she did the same thing and took out a $98 (150 AUD) insurance package to protect her seven Labubus. 'If I lost one on a trip I'd feel sad, especially nowadays with how hard they were to get and how long ago I bought them – they're a part of me at this point,' she told the publication. What is a Labubu? And why does everyone want one? 4 Labubu dolls have blown up because their identities are hidden behind cardboard boxes. JESSICA LEE/EPA-EFE/Shutterstock These 'cute ugly' toys are marketed and distributed by Chinese toy company Pop Mart as collectable toys, pushing the ideology that shoppers need to have them all, like Jellycats and Funko Pops before them. But, what's really caused them to blow up is the fact that their identities are hidden behind their cardboard boxes. This blind box format has been the basis of so many viral videos, with influencers purchasing boxes and boxes of them in the hopes of getting the one they really want. And, when they fail, they'll buy more and more. Since Pop Mart arrived in Sydney, Aussies have been spotted on TikTok sharing endless experiences of getting to stores just after midnight, scouring all the entries to ensure they have the quickest path to the goods, and preparing to drop any amount of money possible, only to still miss out at the last hurdle. The problem now is, if you miss out, you're an outcast… or you're so desperate that you'll consider resorting to stealing it off someone who was lucky to nab one.
Scottish Sun
04-06-2025
- General
- Scottish Sun
Only two-thirds of UK airports have scrapped 100ml limit – full list of where you can fly from with unlimited liquids
Check the list below for the airports scrapping the strict 100ml liquid limit PACKING IT IN Only two-thirds of UK airports have scrapped 100ml limit – full list of where you can fly from with unlimited liquids IF you have summer plans, you need to check this list of 10 UK airports which now let holidaymakers take 2 litres on liquid in hand luggage. Only two-thirds of international UK airports have scrapped the strict cap - which now lets tourists effectively take as much as they want. 2 Passenger Puts Liquids Into Bag At Airport Security Check Credit: Getty The new rule is due to the implementation of new 3D security scanners, which have allowed several airports to axe the meagre 100ml limit. The 15 international airports in the UK are set to scrap the pesky 100ml rule. But so far, only two thirds of that list have adopted the new policy. This leaves 10 airports that have permitted the higher levels of liquid on board. READ MORE TRAVEL NEWS FLY AWAY AI is being used by British Airways planes to avoid bad weather & flight delays Tourists now arriving or departing from the UK can expect faster security checks as new 3D CT scanners start to replace older systems. The infamous 100ml rule is now set to go, but the current number of airports that have enacted this policy is still limited. Cutting-edge technology will allow passengers to carry a whopping two litres of of liquids in their hand luggage - without needing to remove them at security. The new airports which will have this groundbreaking rule are Birmingham, Bristol, Edinburgh, Gatwick, Leeds, Bradford, London City, Luton, Newcastle, Southend and Teesside. For travellers going through any of these airports, liquids in containers of up to 100ml are still allowed. There is no restriction on the amount of liquids that can be carried in these containers. How the Passport Card Can Help You Fly Without a Real ID Passengers can keep their liquids in their hand luggage - which removes the need for a separate plastic bag. Holidaygoers can also leave electronics such as laptops inside their bags thanks to the new technology. The latest state-of-the-art CT scanners have been engineered with much better 3D imaging technology. Traditional X-ray machines produce two-dimensional images. These items are prohibited from carry-on luggage Power banks Cell phone battery charging cases Rechargeable and non-rechargeable lithium batteries Cell phone batteries Laptop batteries External batteries Portable rechargers But these new breakthrough scanners create a more detailed, rotatable 3D visualisation of your baggage. The 100ml limit was rolled out in 2006. Ever since, travellers have gotten accustomed to not bringing more than that amount on holiday. They were also condemned to opening their bags up every time they entered security checkpoints. But these revolutionary scanners are set to change this. International airports such as Glasgow, Heathrow, Manchester, Stansted and Liverpool are still yet to remove the strict limit.
The Irish Sun
04-06-2025
- General
- The Irish Sun
Only two-thirds of UK airports have scrapped 100ml limit – full list of where you can fly from with unlimited liquids
IF you have summer plans, you need to check this list of 10 UK airports which now let holidaymakers take 2 litres on liquid in hand luggage. Only two-thirds of international UK airports have scrapped the strict cap - which now lets tourists effectively take as much as they want. Advertisement 2 Passenger Puts Liquids Into Bag At Airport Security Check Credit: Getty The new rule is due to the implementation of new 3D security scanners, which have allowed several airports to axe the meagre 100ml limit. The 15 international airports in the UK are set to scrap the pesky 100ml rule. But so far, only two thirds of that list have adopted the new policy. This leaves 10 airports that have permitted the higher levels of liquid on board. Advertisement READ MORE TRAVEL NEWS Tourists now arriving or departing from the UK can expect faster security checks as new 3D CT scanners start to replace older systems. The infamous 100ml rule is now set to go, but the current number of airports that have enacted this policy is still limited. Cutting-edge technology will allow passengers to carry a whopping two litres of of liquids in their hand luggage - without needing to remove them at security. The new airports which will have this groundbreaking rule are Birmingham, Bristol, Edinburgh, Gatwick, Leeds, Bradford, London City, Luton, Newcastle, Southend and Teesside. Advertisement Most read in News Travel For travellers going through any of these airports, liquids in containers of up to 100ml are still allowed. There is no restriction on the amount of liquids that can be carried in these containers. How the Passport Card Can Help You Fly Without a Real ID Passengers can keep their liquids in their hand luggage - which removes the need for a separate plastic bag. Holidaygoers can also leave electronics such as laptops inside their bags thanks to the new technology . Advertisement The latest state-of-the-art CT scanners have been engineered with much better 3D imaging technology. Traditional X-ray machines produce two-dimensional images. These items are prohibited from carry-on luggage Power banks Cell phone battery charging cases Rechargeable and non-rechargeable lithium batteries Cell phone batteries Laptop batteries External batteries Portable rechargers But these new breakthrough scanners create a more detailed, rotatable 3D visualisation of your baggage. The 100ml limit was rolled out in 2006. Advertisement Ever since, travellers have gotten accustomed to not bringing more than that amount on holiday. They were also condemned to opening their bags up every time they entered security checkpoints. But these revolutionary scanners are set to change this. International airports such as Glasgow , Heathrow, Manchester , Stansted and Liverpool are still yet to remove the strict limit. Advertisement 2 Airport security check before flight. Passenger holding plastic bag with liquids above container with laptop and personal items. Credit: Getty
