DUN'S 100 - 2016

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Financial Services
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2016 | DUN’S 100 DUN’S 100 | 2016
DUN’S 100 | 2016 2016 | DUN’S 100
3 Insurance Companies
RANK
Harel Insurance Investments & Financial
Services Ltd.
H arel Insurance Investments & Financial
Services Ltd. is Israel’s largest insur-
ance and financial group. In 2015, with
a market share of about 22%, Harel continues
to show stability and presents growth of 9% of
total premiums and management fee revenue of
about NIS 19 billion for the 2nd year in a row, as
of December 31, 2015. Harel’s balance sheet to-
taled of NIS 91.5 billion as of December 31, 2015
(compared with NIS 89.3 billion as of December
31, 2014). The Group is Israel’s largest and most
dominant in the field of health insurance with a
market share of 42.6%, the second largest in
non-life insurance in terms of premiums, the 3rd
largest (in terms of premiums) in life insurance
and the 4th largest in mutual funds. Group assets
under management, in insurance, pension funds,
provident funds, mutual funds and financial ser-
vices, as of December 31, 2015, totaled over NIS
178.4 billion.
Harel Group has more than 80 years of Insurance
Activity – In 1935, the late Ernst and Margot Ham-
burger founded the Hamishmar Insurance Agency,
which was the start of their insurance activity in
Israel. In 1975, the Hamburger family established
Harel Insurance Company. Seven years later, both
Harel Insurance Company and Hamishmar Insur-
ance Agency became subsidiaries of Harel Hamish-
mar Investments Ltd., whose shares began trading
on the Tel Aviv Stock Exchange (TASE) in 1982. In
2007, the company’s name was changed to Harel
Insurance Investments & Financial Services Ltd.
Harel Investments shares are currently traded on
the TASE’s Tel Aviv 75 Index.
Harel Insurance Company Ltd. (100%) – Harel’s
professional experience and knowledge is pre-
sented in all the lines of business Harel actives:
In health insurance sector (which includes health
insurance, long term care, dental care and foreign
travel insurance), Harel leads as Israel’s largest
company in this field, with more than 3 million
insured parties, who benefit from this professional
and advanced service base, with strong close ties
with medical institutions hospitals and medical
service centers, in Israel and worldwide. In 2015,
the insurance activity of Dikla Insurance Company,
who specialized in health insurance and long-term
care insurance, wasmerged with Harel’s insurance
activity.
In non-life insurance sector (which includes mo-
tor insurance, residential insurance, liability insur-
ance, mortgage insurance, credit insurance), Harel
continues to lead as the second largest company
in this field (in terms of premiums), as of totaled
NIS 3.1 billion. In 2015, Harel’s earned premiums
and fees in the long term savings sector (which
includes life insurance, pension funds, provident
and study funds) totaled about NIS 11.7 billion.
Harel is the 3rd largest in Israel in life insurance in
terms of premiums, totaled about NIS 4 billion as
of December 31,2015. In 2015, Harel was selected
in a competition run by “Adif Insurance” asThe Life
Insurance Group of the Year! Harel’s pension funds
hold a 16.3%of market share andHarel’s provident
funds holds a 7.7% of market share.
Over the last decade, the Group has expanded its
investments in Israel and abroad, and continues
to strengthen its position in credits, infrastructures
and in revenue generating real estate in Israel and
abroad.
Harel insures the Israeli branches of numerousmul-
tinational corporations and is a “Global Partner”
of large insurance conglomerates, such as Zurich,
Allianz, AXA, Royal & Sun Alliance, XL-Catlin, HDl,
QBE, If and Chubb-Ace. Since 2008, the Group
signed a unique cooperation agreement with Na-
tional Indemnity Company - a leading company in
the insurance arm of Berkshire Hathaway.
Harel Finance Holdings Ltd. (100%) – The Group’s
financial arm, actively involved in threemain capi-
tal market’s lines of business, when every one of
them is managed through specialized subsidiary:
mutual funds management through Harel PIA ltd.,
exchange-traded notes (ETNs) through Harel Sal
ltd., and investment portfoliomanagement through
Harel Finance Investment Management ltd. As of
December 31, 2015 Harel Finance manages NIS
47.5 billion of assets. Harel Finance focuses on
providing a complete solution for all financial
needs through a wide range of financial products
and services to both private and institutional cli-
ents. Harel Finance is one of the leading companies
in the Israeli market on its lines of business.
ICIC-Israel Credit Insurance Company Ltd. (50%)–
offers credit insurance (export and domestic mar-
kets). ICIC is jointly controlled by Harel and Euler
Hermes, the world’s largest credit insurer.
EMI – Ezer Mortgage Insurance Company Ltd.
(100%) – Mortgage Insurance Company Ltd.,
operates in Israel as an insurer in the residential
mortgage field.
Interasco Societe Anonyme General Insurance
CompanyS.A.G.I (94.5%) – An insurance company
in Greece by the Harel Group. Interasco is involved
in non-life insurance and health insurance.
Turk Nippon Sigorta A.S. (100%) – An insurance
company in Turkey. Operates in all non-life lines of
business and health insurance in Turkey.
Corporate Responsibility – As one of the lead-
ing groups in the Israeli economy, Harel attaches
paramount importance to all matters related to cor-
porate responsibility and extensive social involve-
ment. Harel is carrying the flag of obligation to the
community and involves, donates and supports a
variety of non-profit organizations. Although Harel
is one of Israel’s largest insurance groups, it still
retains its traditional family values with an empha-
sis on integrity, fairness, reliability and personal-
ized service. In 2015, Harel was ranked for the
first time as “Platinum Plus”, the highest rank in
“Maala” index for corporate social responsibility
in Israel. In addition, Harel had published in 2015
the group’s 2nd corporate responsibility report of
the period of 2013-2014.
Esta b l i s h e d
1982
S h a r e h o l d e r s
Hamburger Family
49.6%
The Public
50.4%
L i n e o f B u s i n ess
Insurance and financial services – health (health insurance, long term care, dental care
and foreign travel insurance), non-life insurance (motor insurance, residential insurance,
liability insurance, mortgage insurance, credit insurance), life insurance, pension funds,
provident funds, study funds, mutual funds, investment portfolio management, Asset
Management, exchange-traded notes, as well as other financial services
3 Abba Hillel St., P.O.B. 1951,
Ramat Gan 5211802
Tel: 972-3-7549400
Fax: 972-3-7547100
Ronen Agasi
CEO
Yair Hamburger
Chairman