Insurance & finance news
Israel's business and economic news in English, from the country's financial press. Hebrew headlines are translated; every story links to the publisher.
A settlement agreement has been reached in a class action lawsuit against five insurance companies—Harel, Klal, Phoenix, Migdal, and Ailon—accused of violating the Insurance Contract Law by failing to add interest to compensation payments made more than 30 days after claim submission.
Globes (Hebrew, translated) · 3 hours ago · Klal, Harel, Phoenix, Migdal
The Competition Authority's Demand That Could Torpedo Future Merger Deals
The Competition Authority's conditions for the Union and Haral merger with Klal company, which caused the merger to fail, were driven by concerns over information leakage between companies. Experts explain that user data is dramatic and a critical asset that companies acquire.
Cal sale likely to be postponed after Horesh-Harel cancel deal
Israel Discount Bank and First International Bank will receive compensation of NIS 135 million and NIS 52 million respectively for their stakes in Cal after Horesh-Harel cancelled the acquisition deal.
As car insurance premiums plummet, "Globes" finds out why
According to the Central Bureau of Statistics, the average price of vehicle insurance dropped by 8% in August alone.
Clal Insurance renews pursuit of investment bank Value Base
Clal Insurance is in early-stage negotiations to acquire investment bank Value Base at a valuation of NIS 600 million.
Clal Insurance exploring investment in one of Israel's veteran investment banks
Clal Insurance is examining an investment in Willow Base, acquiring 18-20% of the company at a valuation of NIS 600 million pre-money. Willow Base, founded in 2013, is controlled by Victor Shmarich and Ido Neuberger, with the remainder held equally by Nathan Hetz, Dudi Wertheim, and Mitav investment house.