Harel

What Harel does

Harel Investments in Insurance and Financial Services Ltd. (TASE: HRl) is the largest insurance group in Israel, operating a multi-line portfolio that spans health, life, auto, home, travel, long-term care, critical illness, dental, disability, and commercial insurance, together with pension, provident (gemel), study, and trust fund management, mortgage lending including reverse mortgages for the 60+ segment, and 50/50 credit insurance through the B.S.S.H joint venture with Allianz Trade. The group is publicly traded on the Tel Aviv Stock Exchange since 1982, was founded in 1935, sits under Hamburger family control of approximately 42.4% (with approximately 57.6% public float), is headquartered at HaHamal 12 / Abba Hillel 3, Ramat Gan, and operates approximately 5,000 employees across a subsidiary structure including Harel Pension and Gemel, Atidim, EMI (mortgage insurance), Harel 60+, and Gamla-Harel Real Estate. Shirbit's cyber and property insurance book was acquired in 2025 and the group is pursuing a 72% acquisition of ICC-CAL (announced October 2025).

Name

Harel

Legal name

Harel Investments in Insurance and Financial Services Ltd. (הראל השקעות בביטוח ושירותים פיננסים בע"מ)

Website

https://harel-group.co.il

Company type

Public

Founded year

1982

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Harel is Israel's largest insurance group, offering health, life, auto, home, and travel insurance, pension and savings products, and mortgages to individual consumers, self-employed workers, and employers through agents, digital platforms, and B2B portals.

Ownership category

akta.pro rank

Product category

Insurance and Financial Services

NAICS

Direct Life, Health, and Medical Insurance Carriers (52411), Insurance Carriers (5241), Direct Health and Medical Insurance Carriers (524114), Pension Funds (525110)

SIC

Accident & Health Insurance (6321), Fire, Marine & Casualty Insurance (6331), Life Insurance (6311)

akta.pro primary industry

Annuity & Insurance-Based Retirement Solutions Advisory (FSAEABAH)

akta.pro secondary industries

Traditional Long-Term Care (LTC) Insurance (FSAIAJAA), Participating (Dividend) Whole Life Insurance (FSAIABAI), International/Expat Critical Illness & Hospital Indemnity (FSAIAKAJ)

Keywords

• Insurance services
• Pension funds
• Health insurance
• Life insurance
• Financial services

Headquarters

HQ city

Ramat Gan

HQ country

Israel

HQ region

Middle East

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Insurance Premiums - Health: Harel collects insurance premiums from individuals and businesses for health, life, critical illness, dental, long-term care, and travel insurance policies. As the largest health insurer in Israel with ~37.2% market share, this is a primary revenue stream.
2. Insurance Premiums - General/Property & Casualty: Premiums from car insurance, home/apartment insurance, business insurance, mortgage insurance, and credit insurance. Harel is the largest general insurance group in Israel with ~14.4% market share.
3. Insurance Premiums - Life Insurance: Life insurance premiums (risk-only term life products) with the group ranked second largest in life insurance at ~20.2% market share in premium volume.
4. Pension Fund Management: Management fees from Harel's pension funds, study funds (kerachim hishulmiyot), and gemel funds. Harel manages new pension funds with ~17.5% market share, gemel accounts with ~8.6% share, and trust funds with ~13.8% share.
5. Investment Management & Securities: Fees from managing investment portfolios, mutual funds (kerenot neemanut), and alternative investments. Also includes financial services such as portfolio management for individuals.
6. Credit & Mortgage Lending: Interest income and fees from mortgage products including reverse mortgages (Mishkena 60+), general mortgages (Mishkena+), and lending solutions for real estate entrepreneurs through Harel 60+ Ltd. and Gamla-Harel Real Estate subsidiaries.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels5 records

Core offering

Harel is an Israeli insurance and financial services group underwriting and distributing personal and commercial insurance (car, home, health, life, travel, critical illness, dental, long-term care, disability, and pet insurance) and managing long-term savings products (pension funds, provident funds, study funds) plus mortgage lending and investment management. The group operates digital self-service platforms and a mobile app alongside a nationwide network of licensed agents.

Product overview

Harel is a comprehensive insurance and financial services group offering a multi-product platform. The core portfolio includes property & casualty insurance (car, home, business), health and life insurance, and long-term savings products (pension funds, provident funds, study funds). Key products include: car insurance (with Harel Switch pay-per-km and Harel Charge EV coverage), home insurance (with Bronze/Silver/Gold tiers), health insurance (hospitalization, surgeries, dental), travel insurance (with Air Doctor integration and Harel 669 rescue team), life insurance (Magen family protection), critical illness, disability, long-term care, and pet insurance (Marpet). Savings products encompass pension funds (17.5% market share), provident funds (8.6% share), investment provident funds, and study funds. Financial services include portfolio management, alternative investments, trust funds (13.8% mutual fund share), and mortgage products (regular and reverse mortgages for 60+). The group operates subsidiaries including EMI (mortgage insurance), BASACH credit insurance (50% with Allianz), and acquired brands like Shirbit (cyber insurance). Digital offerings include the Harel Abroad travel app and Harel Switch usage-based car insurance.

Differentiator

Problem solved

Functional benefit

Brands

• Marpet (מרפאט): Pet health insurance product covering veterinary services for dogs and cats, offered as a sub-brand under Harel's apartment/home insurance line.
• Harel Svitz (הראל סוויץ')
• Harel Charge (הראל Charge)
• Harel Upgrade (Upgrade מקיף לרכב)
• Adira Silver (אדירה כסף)
• Adira Gold (אדירה זהב)
• Adira Bronze (אדירה ארד)
• Shirbit (שירביט)
• Harel 669 (הראל 669)
• Laya Digital Wallet
• Harel Abroad App (הראל חו"ל)

Products and services

• Car Insurance (ביטוח רכב) Comprehensive car insurance offering compulsory third-party liability, third-party coverage, and comprehensive coverage tiers, with specialized programs including Harel Switch (pay-per-kilometer for low-mileage drivers) and Harel Charge (electric vehicle and private EV charging station coverage).
• Home/Apartment Insurance (ביטוח דירה) - Adira Bronze/Silver/Gold tiers Home insurance covering building structure and contents with three tiers: Adira Bronze (basic), Adira Silver (mid-tier with burglary, fire, water damage coverage), and Adira Gold (extended coverage including valuables), with optional fine art and third-party liability coverage. Up to 35% new-customer discount.
• Health Insurance (ביטוח בריאות) Private health insurance providing coverage for medical treatments, hospitalizations, surgeries (including overseas transplants), and supplementary health services; Harel is the largest health insurer in Israel with about 37.2% market share.
• Travel Insurance (ביטוח נסיעות לחו"ל) International travel insurance products including First Class and Premium Passport tier plans, with Air Doctor medical provider access, worldwide rescue and extraction by the Harel 669 unit, and $155 immediate payment for delayed luggage via the Harel Abroad app.
• Life Insurance (ביטוח חיים) Risk-only life insurance providing financial security for families, with Family Income, Magen (shield) death benefit, and children's supplementary coverage options; Harel ranks second in Israel life insurance at approximately 20.2% premium volume share.
• Critical Illness Insurance (ביטוח מחלות קשות) Critical illness coverage providing lump-sum payments (up to 600,000 shekels for adults) upon diagnosis of covered serious medical conditions, with separate dedicated child critical illness product available.
• Dental Insurance (ביטוח שיניים) Dental insurance coverage offered as part of Harel's supplementary health insurance portfolio for individuals and families.
• Long-term Care Insurance (ביטוח סיעודי) Long-term care (nursing) insurance covering the costs of nursing care for individuals requiring ongoing assistance.
• Disability / Income Protection Insurance (ביטוח אובדן כושר עבודה) Income protection insurance providing monthly payments to insured individuals who lose working ability due to illness or accident.
• Marpet Pet Insurance (מרפאט) Pet insurance for dogs and cats covering veterinary services, vaccinations, and medical treatments, with direct payment to contracted veterinarians.
• Pension Funds (קרנות פנסיה) Pension fund management including new pension funds, general pension funds, and the Atidim future pension fund, with approximately 17.5% market share in new pension funds; mandatory for employees and (since January 2017) self-employed individuals in Israel.
• Provident / Gemel Funds (קופות גמל) Provident fund management for savings and investment with approximately 8.6% market share in Israel, serving both personal savings and severance-pay (titzmum) purposes.
• Investment Provident Fund (קופת גמל להשקעה) Flexible investment provident fund allowing contributions up to 83,641.09 shekels annually (2026) with tax deferral benefits and no lock-up period; serves short-, medium-, and long-term savings goals.
• Study Funds (קרנות השתלמות) Capital accumulation study funds (kerachim hishulmiyot) with tax benefits for employees and self-employed, used for professional development, continuing education, and post-service use.
• Harel Finance (הראל פיננסים) - Portfolio and Investment Management Financial services including portfolio management, alternative investments, trust funds, and research services; manages approximately 13.8% market share in mutual funds.
• Mishkena+ Mortgage (משכנתא+) Mortgage loans for various purposes with terms up to 40 years, distributed via the digital lending platform.
• Mishkena 60+ Reverse Mortgage (משכנתא 60+) Reverse mortgage product for individuals aged 60 and above that allows them to unlock home equity while continuing to live in their property.
• Mortgage Insurance (ביטוח משכנתא) Life insurance linked to mortgage obligations that protects the family's ability to repay the loan in the event of the insured's death.
• Harel Switch Pay-per-Kilometer Car Insurance (הראל סוויץ') Usage-based car insurance where monthly payments vary based on actual kilometers driven, designed for low-mileage drivers who pay in proportion to use.
• Harel Charge EV Charger Insurance (הראל Charge) Specialized insurance for private EV charging stations that covers damage to the equipment and third-party liability arising from the charger or its use.
• Shirbit Cyber and Corporate Insurance (שירביט) Cyber and corporate insurance products offered under the Shirbit sub-brand acquired by Harel in 2025, targeting Israeli businesses seeking cyber and property coverage.
• B.S.S.H Credit Insurance (50/50 Joint Venture with Allianz Trade) Credit insurance company jointly owned by Harel (50%) and Allianz Trade, providing credit risk coverage to Israeli businesses across domestic and cross-border trade.
• EMI Mortgage Insurance (עזר חברה לביטוח משכנתאות) Mortgage credit insurance provider operating in Israel's residential mortgage insurance market as a wholly owned Harel subsidiary.
• Harel Abroad (Hutz LaHul) Travel Insurance Mobile App (אפליקציית הראל חו"ל) Mobile application for Harel travel insurance customers that enables policy purchase, claim filing, locating doctors abroad via Air Doctor, policy extension, and offering a 10% cashback on the next travel insurance purchase.

Quantifiable outcome

• 37.2% market share in health insurance - largest in Israel
• +3 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Feature3 records

Partnerships

Three partnerships are on record, tiered core and minor.

• Air DoctorcoreTechnology or IntegrationExclusive partnership enabling Harel travel insurance customers to locate and access medical care providers abroad through the Air Doctor platform, with direct payment settlement by Harel. Available via the Harel Hutz LaHul mobile app.
• Allianz TradecoreStrategic or Co-development PartnerJoint venture partner in B.S.S.H. - The Israeli Credit Insurance Company Ltd. (50% Harel, 50% Allianz Trade), one of the leading players in Israel's credit insurance market.
• Fidelity InvestmentsminorStrategic or Co-development PartnerHarel Fidelity brand offering - joint product branding in savings and investment products, reflecting a co-branding/partnership arrangement for long-term savings products.

Scale indicators9 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Migdal Insurance and Financial Holdings: One of the largest Israeli insurance and financial services groups. Directly comparable as a multi-line insurer competing head-to-head with Harel across health, life, P&C, pension, and savings in the same Israeli market.
• Clal Insurance Enterprises Holdings: Major Israeli insurance conglomerate offering life, health, P&C, and pension products. Direct competitor in every insurance line where Harel operates and a close peer in scale and product breadth.
• Phoenix Holdings: Leading Israeli insurance and financial group with multi-line offerings (life, health, P&C, pension, asset management). Directly comparable in business mix and market positioning to Harel.
• Menora Mivtachim Holdings: Israeli insurance and finance group with strength in pension, health, and P&C. Directly comparable peer, also co-invested alongside Harel in the OPC Energy placement, indicating similar institutional positioning.
• Ayalon Insurance Company: Israeli insurance carrier operating in P&C and health lines. Comparable as a domestic Israeli insurance peer, though smaller in scale than Harel.
• Shlomo Insurance: Israeli insurance group with strong auto and P&C presence. Comparable as a domestic peer competing in the same core insurance segments, particularly motor.

Broad incumbents

• Allianz SE: Global insurance and asset management giant and Harel's 50/50 JV partner in B.S.S.H. credit insurance. Comparable as a broad incumbent with overlapping life, P&C, and asset management capabilities, but operating at vastly greater scale and geographic reach.
• Manulife Financial: Global life insurance and wealth/asset management firm. Comparable as a broad incumbent with similar life insurance and pension/retirement savings products, though with North American and Asian focus rather than Israeli.
• Zurich Insurance Group: Global multi-line insurer offering P&C, life, and specialty products. Comparable as a broad incumbent with similar underwriting capabilities and corporate/cyber insurance offerings relevant to Harel's Shirbit brand.

Emerging players

• Direct Insurance Group (Yashir): Israeli digital-first insurance company focused on direct-to-consumer distribution. Comparable as an emerging player in the Israeli insurance market whose mobile-first model could pressure traditional agent-led economics at Harel over time.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/harel-insurance
• Xx.com/harelinsurance

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Harel