Migdal Group
Insurance & Finance
Migdal Insurance Co. Ltd
About 2.5 million private and corporate customers*.
About 3,000 agents and executive managers and more than 4,305 employees (Including insurance agencies).
Assessment of Company’s Shareholders Capital is NIS 7.7 billion.
*Last updated: December 31, 2022
Migdal’s volume of investments is the largest amongst Israeli insurance companies and includes: credit, a large array of real estate assets, Private Equitey investments, real investments as well as an advanced trading room.
.The investments field forms an aspect of the investments department
Some of the leading and most solid reinsurance options in the worldA range of products in the insurance, pension and financial services fields.
Migdal’s executive staff and board of directors’ members, are all prominants members of the Israeli business community.
Migdal Insurance was established in 1934 in Jerusalem by a group of Jewish families from Alexandria and the Italian insurance company Generali. These businessmen first operated under British rule.
The name, Migdal, was given to it by the national poet, Chayim Nachman Bialik. ‘Migdal’ translates into ‘tower’ or ‘tower of strength’, this as an expression of the strength and security that Migdal has been providing its customers with for the past 8 decades. using a broad-spectrum of insurance products, pension products, and innovative financial asset management.
The final controlling Shareholder in the Company is Mr. Shlomo Eliyahu, who, through Eliyahu 1959 Ltd, holds 61.56% of the Company’s issued and paid up capital.
The group operates in the insurance, pension and provident fund fields.
The group’s insurance operations are executed through Migdal Insurance. Migdal Group’s pension and provident fund operations are carried out through Migdal Insurance’s subsidiaries: Migdal Makefet Pension and Provident Funds Ltd. (“Migdal Makefet”), which manages the new pension funds of the Migdal Group, as well as Personal Makefet and Supplementary Makefet. The other subsidiary is Yozma Pension Fund for the Self-Employed Ltd., managing the old pension fund, Yozma Pension Fund for the Self-Employed as well as all the group’s provident funds.
Migdal Makefet offers a range of plans, enabling the tailoring of individual plans for specific customer requirements.. Alongside its impressive reputation in Life Insurance and Long-Term Savings, Migdal offers a broad range of insurance plans, which ensures customers of a solid economic base for their family in the event of death and loss of income, as well as, more happily, offering insurance solutions in preparation for a lengthy retirement age.
Migdal Insurance’s agents are qualified to offer insurance and financial products intended to ensure economic stability for retirees. This includes the organized management of retirement money, conservative investments and additional services tailored to the customer’s programs and needs and the assets he has accumulated. Migdal’s Health Insurance framework offers insurance solutions that include: a modular health package whichincludes , among other things,: coverage for organ transplants, special treatments overseas, drugs that are not included in the Ministry of Health’s list of subsidised drugs, surgery in Israel and/or overseas, a range of long-term care plans, additional expert opinions in cases of of a severe disease, personal accidents and overseas travel. In addition, Migdal Insurance offers private insurance plans and a general insurance range for large and small businesses.
The group also holds insurance agencies and the major holding of these is done through Migdal Holdings and Management of Insurance Agencies. Ltd.
The combination of all Migdal Insurance’s branches and its control over the insurance and financial fields, has allowed the group’s customers to benefit over the years from reliable state-of-the-art services, this both through the insurance agencies and external agencies that work with the group, as well as with the aid of the “Migdal at your Service” center - ourcustomer service center, open and prepared to address customers’ every application.