About The Group


The Migdal Group is the leading insurance and finance group in Israel. For over 80 years, the Group has been providing its clients with a wide and varied array of insurance and pension products, and financial asset management services.

The Group's activities are carried out within the framework of Migdal Insurance and Financial Holdings Ltd., which, directly or indirectly and by full or partial ownership, holds a variety of companies through which the Group operates in various fields of activity.

The Company went public on the Tel Aviv Stock Exchange, in 1997. The Company's shares are currently traded within the framework of the TA 25 index.

The main part of the holding, about 68.46%, is held by Eliahu Insurance Company Ltd., which is owned by Mr. Shlomo Eliahu, who founded the Company in 1966. The balance of the holding is held by the public. The capital attributed to the shareholders amounts, as of 31.12.16, to NIS 5.4billion.

The Group serves about 2.0 million private and corporate clients, has business relationships with about 2,600 insurance agencies and insurance agents, employs upwards of 4,700 employees and manages assets on a scale of NIS 225 billion.

The Group's clients benefit from its specialization in the pension field, its wide range of clientele, and its successful experience over many decades. The options of long term pension savings, life insurance plans including saving plans and additional retirement solutions, pension funds, provident funds and study funds, and financial and other additional services (which are provided to clients, both through insurance agents and agencies that work with the Group, and with the assistance of the "Migdal at your service" call center, a customer service center that is ready to respond to any inquiry and to assist every client) – all these are tools that the Group has created with one sole purpose – to provide its clients with the best solutions available.

The management and the directors are among the pillars of the Israeli economy, leading the Group to new successes while maintaining its market position. Mr. Yohanan Danino serves as Chairman of the Board of Directors. Mr. Eran Czerninski, CPA, serves as CEO, in addition to his other positions within the Group companies.

 

Migdal Insurance

 

Migdal Insurance Company Ltd. was founded in 1934 in Jerusalem, by a group of Jewish families from Alexandria, Egypt, in partnership with the Italian insurance company Generali.

The name "Migdal" (Hebrew for "tower") was given to the company by the national poet Haim Nachman Bialik, as an expression of the strength and security that it provides to its clients. And indeed, for over 80 years Migdal has been providing its clients with a wide and varied array of insurance and pension products and financial asset management services, which afford its clients protection and financial security.

The Group manages about 29% of the life insurance plans and new pension funds in Israel, which total about NIS 195 billion – about NIS 115 billion in life insurance, about NIS 56 billion in pension funds,  about NIS 16 billion in provident funds and study funds, and about NIS 8billion in general insurance and health insurance(1). (1)  As of September 30th, 2016, based on insurance liabilities in life assurance and AuM in pension and provident funds..

 

Real Estate

 

The Migdal Group belongs to a group of the largest investors in the income producing real-estate market in Israel, by holding and managing hundreds of thousands of square meters of floor space, in Israel and worldwide.

The real-estate portfolio of the Group in Israel is worth about NIS 8 billion and is characterized by high quality, stable, income-producing properties in strategic locations (mainly in leading shopping centers in Israel and in modern office towers), high quality tenants (government ministries, giant Israeli and foreign companies, leading companies and organizations in their fields), and some of the highest occupancy rates found today in Israel.

The properties are characterized by a high level of engineering and maintenance, and are managed, operated, and improved using a high quality management platform, which was developed at Migdal over many years. Outside Israel, the diversified holding includes office buildings, commercial centers, housing clusters, etc. The Group's activity focuses on major cities and stable markets, which are characterized by growth, transparency and high demand. In general, the Company's investments abroad are made together with local partners, which specialize in the particular type of property, the market and the relevant strategy. Migdal's investments in real estate, in Israel and worldwide, are considered strategic investments that have a steady income stream, with appreciation potential, and they form an anchor in the investment portfolio of the Group, both in the investment portfolios of the members and of the insured parties, and in the nostro portfolio.

The real-estate policy of the Group is based on a medium- and long-term perspective, with the risk component and its hedging having very significant weight in the investment considerations. The real-estate activity of the Group in Israel and worldwide forms an important layer in the maintenance and augmentation of the long-term savings funds of our clients and is a further expression of the Group's strength.

 

Migdal Capital Market

 

The financial service activity is carried out through Migdal Capital Markets (1965) Ltd. and its subsidiaries.

Migdal Capital Markets provides financial services to clients-financial asset management services (mutual funds management, portfolio management and hedge funds management) and investment marketing, as well as other activity that includes the sub-lines: investment banking, distribution and Nostro activity. Migdal Capital Markets manages about NIS 31 billion financial assets As of December 31th, 2016.