Harel Insurance and Financial

What Harel Insurance and Financial does

Harel Insurance and Financial (Harel Investments in Insurance and Financial Services Ltd., TASE: HARL) is Israel's largest insurance and financial services group, publicly traded on the Tel Aviv Stock Exchange since 1982 with approximately 5,000 employees. The group operates a comprehensive platform spanning health, life, general (property & casualty), travel, car, home, dental, long-term care, disability, personal accident, and pet insurance (Marpet); long-term savings products including pension funds (~17.5% new enrollment share), provident/gemel funds (~8.6%), study funds, and savings/investment plans; and financial services including mortgages (standard and reverse mortgages via Harel 60+), trust/mutual funds (~13.8% market share), and discretionary portfolio management. As of September 2025 Harel holds leading Israeli market shares of ~21.6% of total insurance premiums, ~37.2% of health, ~14.4% of general insurance, and ~20.2% of life insurance, making it the dominant domestic incumbent.

The business model relies on recurring insurance premiums, management fees on long-term savings assets, financial services fees, and investment income on a portfolio disclosed at ~$11.11 billion. Distribution is multi-channel: a nationwide licensed agent and financial advisor network, digital self-service through digital.harel-group.co.il and mobile apps (Harel Abroad for travel, Harel Switch for usage-based car, Harel Charge for EV stations, Marpet for pet), inside sales via call centers and WhatsApp, physical customer reception centers, and a dedicated employer/business portal. Harel also operates wholly-owned operating subsidiaries (EMI mortgage insurance, Harel Pension and Gemel, Atidit, Army Savings Fund, Harel 60+, Gamla-Harel real estate financing, Hamazpen) and a 50/50 credit insurance joint venture with Allianz Trade (B.S.S.H.). Recently Harel has been an active strategic equity investor, acquiring material stakes in Max Stock Limited (13.23%, January 2026), Waxman Group (19%, March 2026), and increasing holdings in Nayax, while participating in growth-stage rounds in Stark Power, Tomorrow.io, and Advance.

Ownership is anchored by the Hamburger family (Yair, Gideon, and Nurit Manor) with approximately 42.4% of shares, with the remaining ~57.6% publicly held. Strategic positioning emphasizes scale-based dominance in a heavily regulated domestic market, sustained ESG credibility (11 consecutive years of Ma'ala's maximal CSR rating), and incremental diversification through both digital-first insurance products and capital deployment via the group's investment portfolio.

Name

Harel Insurance and Financial

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 Insurance and Financial (TASE: HARL) is Israel's largest insurance and financial services group, providing health, life, P&C, pension, savings, mortgage, and investment products to Israeli consumers, families, employers, and businesses via agents, digital platforms, and apps.

Ownership category

akta.pro rank

Product category

Insurance and Financial Services

NAICS

Direct Life, Health, and Medical Insurance Carriers (52411), Pension Funds (525110), Health and Welfare Funds (525120), Finance and Insurance (52)

SIC

Accident & Health Insurance (6321), Life Insurance (6311), Fire, Marine & Casualty Insurance (6331), Insurance Carriers, Nec (6399)

akta.pro primary industry

Individual Supplemental Health (Hospital Indemnity, Critical Illness, Accident) (FSAIAEAD)

Keywords

• Insurance and financial services
• Life and health insurance
• Pension fund management
• Property and casualty insurance
• Long-term savings products

Headquarters

HQ city

Tel Aviv

HQ country

Israel

HQ region

Middle East

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Insurance premiums: Collection of insurance premiums across health, life, property (car, home, business), and other insurance lines. Harel operates as one of Israel's largest insurance groups with leadership positions in health, general, and life insurance.
2. Pension and long-term savings management: Management fees from pension funds, gemel (provident) funds, and study funds. Harel manages pension assets and gemel/kupot gemel with leading market shares.
3. Financial services and capital markets: Revenue from trust funds, investment portfolio management, ETFs, and other financial services.
4. Mortgages and credit: Interest income and fees from mortgage products including reverse mortgages (Mortgage 60+) and developer financing solutions.

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

Harel Insurance and Financial operates as one of Israel's largest insurance and financial groups, offering private health, life, critical illness, car, home, travel, dental, long-term care, disability, personal accident, and pet insurance. It also manages pension funds, provident (gemel) funds, study funds, mutual (trust) funds, and discretionary investment portfolios, alongside mortgages including reverse mortgages for seniors aged 60+ and credit insurance through its B.S.S.H. joint venture with Allianz Trade.

Product overview

Harel Insurance and Financial is a large Israeli insurance and financial services conglomerate organized as a platform-plus-modules architecture. The core platform spans health insurance (Israel's largest with ~37.2% market share), life insurance (second largest at ~20.2%), and property & casualty (largest in general insurance at ~14.4%), supported by a leading pension and savings business (~17.5% new pension enrollment market share, ~8.6% provident fund, ~13.8% mutual fund management). The product portfolio is organized into three main pillars: (1) Insurance — health, life, critical illness, travel, car, home, dental, long-term care, disability, personal accident, and pet insurance (Marpet), including acquired Shirbit brand products; (2) Long-Term Savings — pension funds, provident funds (gemel), investment gemel, study funds, and savings plans; (3) Financial Services — mortgages (including Harel 60+ reverse mortgage), portfolio management, trust funds, and alternative investments. Key digital add-on modules include the Harel Abroad travel app, Harel Switch (usage-based car insurance), Harel Charge (EV charging station insurance), and Marpet pet insurance. The group also operates subsidiaries in credit insurance (B.S.S.H. with Allianz Trade), mortgage insurance (EMI), and real estate financing (Gamla-Harel).

Differentiator

Problem solved

Functional benefit

Brands

• Marpet (מרפאט): Pet insurance product for dogs and cats providing medical services coverage
• Harel Switch (הראל סוויץ')
• Harel Charge (הראל Charge)
• Harel Upgrade (Upgrade מקיף לרכב)
• Harel Abroad App
• Harel Pension and Gemel
• Harel Finance
• Laya

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Allianz Trade (formerly Euler Hermes)coreStrategic or Co-development PartnerB.S.S.H. – The Israeli Company for Credit Insurance Ltd. (50% owned by Harel) is jointly controlled by Harel and global credit insurer Allianz Trade. This joint venture is one of the leading players in Israel's credit insurance market.

Scale indicators13 records

Recent moves6 records

Expansion highlights6 records

Emerging players

• Lemonade: Lemonade is a digital-native insurer using AI-driven underwriting and a mobile-first model, representing the kind of insurtech disruption that Harel must defend against in its digital direct channel.

Direct peers

• Altshuler Shaham: Altshuler Shaham is one of Israel's largest investment management and pension providers, a direct competitor to Harel's mutual fund, provident fund and pension operations.
• Migdal Insurance and Financial Holdings: Migdal is one of Israel's largest insurance and financial groups, competing head-to-head with Harel across life, health, pension and savings products, making it the closest direct peer in the Israeli market.
• Phoenix Holdings: Phoenix is a major Israeli insurance, pension and asset management conglomerate that competes with Harel in life insurance, health, general insurance and long-term savings, and is a frequent co-investor in Israeli institutional deals.
• Clal Insurance Enterprises Holdings: Clal is a long-standing Israeli insurance conglomerate offering life, health, P&C and pension products, competing directly with Harel across most of the same customer segments and distribution channels.
• IDI Insurance (Direct Insurance): IDI is an Israeli direct/digital insurance brand offering motor and household policies online, competing with Harel Switch and Harel's digital direct-to-consumer channels in price-sensitive segments.
• Menora Mivtachim Group: Menora Mivtachim is a major Israeli insurance and pension group with strong positions in long-term savings and group insurance, overlapping significantly with Harel's pension, provident and life insurance franchises.

Broad incumbents

• Bank Hapoalim: Bank Hapoalim is Israel's largest bank with material insurance, pension and asset management operations, making it a broader incumbent that competes with Harel across financial services distribution.
• Bank Leumi: Bank Leumi operates significant insurance, pension and wealth management businesses in Israel and competes with Harel for retail savings, pension contributions and bancassurance distribution.

Others

• Allianz SE: Allianz is the global partner in Harel's B.S.S.H. credit insurance JV and provides a benchmark for multinational insurance scale, product breadth and underwriting capability relevant to Harel's strategic direction.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/harelinsurance
• Facebookfacebook.com/profile.php
• LinkedInlinkedin.com/company/harel-insurance

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries10 records

Funding overview

Funding rounds

Investors

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

M&A1 record

Investments40 records

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

Frequently asked questions about Harel Insurance and Financial