Harel Group Expands Through Strategic Acquisitions

The Harel Group has been making waves in the industry with its strategic acquisitions. One notable example is its acquisition of the Israeli insurance company, Clal Insurance, in 2012.

This move marked a significant milestone in the group's expansion efforts. Harel Group's acquisition of Clal Insurance has helped the company strengthen its presence in the Israeli market.

The acquisition has also provided Harel Group with access to Clal Insurance's extensive network of agents and brokers. This has allowed the company to expand its customer base and increase its market share.

As a result of this acquisition, Harel Group's revenue has increased significantly.

Harel Insurance Investments and Financial Services Ltd. Group is the largest insurance and financial group in Israel.

The group operates in insurance, asset management, and credit segments, with a presence in various countries including Israel, Turkey, and Greece.

Harel is active in insurance, asset management, and credit, making it a comprehensive financial services provider.

In insurance, the group offers health, non-life, and life insurance, as well as credit insurance and mortgage insurance through its subsidiaries ICIC and EMI.

Harel Group has been quite active in making strategic acquisitions. They acquired one company, with their latest acquisition being Shirbit Insurance on May 05, 2021.

Harel Insurance Services is a significant player in Israel's insurance and financial sector. The company operates in multiple segments, including insurance, asset management, and credit.

Harel's insurance activities cover health, non-life, and life insurance, as well as credit insurance and mortgage insurance. The company also has a presence in international markets, with operations in Turkey and Greece.

In asset management, Harel offers a range of services, including pension funds, provident funds, mutual funds, and portfolio management. The company also provides financial services in the capital markets through its subsidiary, Harel Finance.

Harel's credit segment focuses on medium business credit, mortgages, and financial guarantees for third parties related to mortgage portfolios. The company's total premiums, benefit contributions, and investment contacts amount to NIS 39.4 billion, as of 2023.

Harel's total assets under management in insurance, pension, and provident funds, mutual funds, and financial services stand at NIS 428 billion, as of 31.12.2023.

Harel Insurance and Finances has a rich history dating back to 1935 when Ernst and Margot Hamburger founded a small insurance agency in Tel Aviv.

The agency, called HaMishmar, was a humble beginning that would eventually grow into one of Israel's largest insurance groups.

In 1975, the Hamburger family established their first insurance company, Harel, which would later become a key part of the Harel Insurance and Finances group.

Harel Insurance and Finances was officially established in 1982, and the company had its initial public offering on the Tel Aviv Stock Exchange the same year.

During the 1980s and 1990s, the company expanded its operations by acquiring several other insurance companies in Israel, including Sahar, Zion, Shiloach, and Dikla.

This strategic move helped Harel Insurance and Finances become Israel's third-largest insurance group.

In 2007, the company changed its name to Harel Insurance Investments and Financial Services Ltd.

Today, Harel Insurance and Finances is a major player in Israel's financial services industry, with a diverse range of products and services that cater to the needs of individuals and businesses alike.

Here are some key milestones in the company's history:

Leadership is a crucial aspect of Harel Group's success. The group's leadership team is comprised of experienced professionals who have a deep understanding of the company's vision and goals.

One of the key leaders is Harel Group's CEO, who has been instrumental in driving the company's growth and expansion. With over 20 years of experience in the industry, he has a proven track record of success and has been able to navigate the company through various challenges.

The leadership team's focus on innovation and customer satisfaction has been a key factor in Harel Group's ability to stay ahead of the competition. By continuously seeking new and better ways to serve their customers, the company has been able to build a loyal customer base and establish itself as a leader in the industry.

Chairman Michel Siboni is a shining example of effective leadership. He's the Chairman of Harel Insurance and CEO of Harel Group.

Michel Siboni's leadership has led to significant business growth, with profit up 28% and a sharp 32% growth of premiums compared with the corresponding quarter last year. This growth is a testament to his ability to adapt to changing market conditions.

The higher interest rate and adoption of new technologies have allowed the company to thrive in a challenging market environment. This is a great example of how innovative thinking can lead to success.

Under Michel Siboni's leadership, Harel Group has developed a strong financial foundation, with an economic solvency ratio of 116% at the end of 2021. This means the company has a significant capital surplus of NIS 2 billion.

Michel Siboni's focus on ongoing marketing drive and constant adoption of new technologies has allowed the company to grow and develop its business activity. This is a key takeaway from his leadership approach.

Nir Cohen is a leader who knows how to drive growth and profitability. He's the CEO of Harel Insurance and has achieved extremely high growth and improved profitability despite a challenging market environment.

Cohen attributes this success to the company's improved operating segments, investments, service, digital tools, marketing, and sales. He's also focused on operational excellence and enhancing customer relationships.

Nir Cohen believes in the importance of employee contribution and cooperation with agents to create added value for customers. This collaborative approach has allowed Harel Insurance to thrive even in uncertain market conditions.

As a leader, Cohen is committed to advancing the company's strategic focus and achieving operational excellence in all activities.

The Harel Group has a strong commitment to social responsibility, believing it's an integral part of their management approach and core values. They attribute great importance to integrating corporate responsibility into all levels of activity.

Their recognition that values and ethical management go hand in hand with business success and leadership drives their approach. This approach has led to the creation of added value for all principal shareholders.

Since 2008, Harel Group has been a member of the "Maala" organization, a non-profit ESG standards-setting organization in Israel. This organization hosts a network of about 110 leading corporations in Israel.

Harel Group has consistently held a "Platina Plus" rating since 2015, the highest rating assigned by Maala. This rating reflects their commitment to excellence in corporate social responsibility.