Harel Insurance
Israel's largest insurance and long-term-savings group (TASE: HARL), founded 1935, controlled by the Hamburger family (~49.9%). Leading market shares in health insurance (37.2%), non-life (14.4%) and overall premiums (21.6%), with ~NIS 638 billion (~$212B) in AUM and a record Q2 2026 (comprehensive income +30%, ROE 37%).
Harel Insurance Investments and Financial Services is Israel's largest insurance and long-term-savings group, founded in 1935 and listed on the Tel Aviv Stock Exchange (TASE: HARL). The group posted a record second quarter in 2026, with comprehensive income up 30% to NIS 1.024 billion and a 37% return on equity, on total assets under management of roughly NIS 638 billion (about $212 billion).
Fact box
| Type | Publicly traded insurance, pension and financial services holding group |
|---|---|
| Founded | 1935 |
| Headquarters | Ramat Gan, Israel |
| Listed | Tel Aviv Stock Exchange (TASE: HARL) |
| Controlling shareholder | Hamburger family, approximately 49.9% (Chairman Yair Hamburger) |
| Leadership | Co-CEOs Nir Cohen and Michel Siboni |
| AUM | ~NIS 638 billion / ~$212 billion (Q2 2026) |
| Regulator | Capital Markets, Insurance and Savings Authority (Israel Ministry of Finance) |
How Large Is Harel's Market Position in Israel?
Harel is Israel's largest insurer by premiums, holding a 21.6% market share as of its Q3 2025 reporting, according to the group's own investor materials. It is the largest and most prominent health insurer in Israel with a 37.2% share, the largest non-life insurer at 14.4%, and the second-largest life insurer at 20.2%. In long-term savings, Harel is the second-largest manager of new pension funds, with a 17.5% share, and holds an 8.6% share of provident fund management, both measured by assets under management.
How Has Harel Performed Financially Through 2025 and 2026?
Harel reported a record nine-month net profit of NIS 2.17 billion through September 2025, up 65% from NIS 1.32 billion a year earlier, with year-to-date return on equity of 27%, compared with 19% in 2024. Momentum continued into 2026: first-quarter 2026 results showed a solvency ratio of 165% as of December 31, 2025 (149% excluding transition provisions), and the group's record second quarter of 2026 brought comprehensive income to NIS 1.024 billion, a 30% increase, with asset-management core profit up 58% to NIS 131 million on continued AUM growth. Annual premium and deposit inflows reached NIS 45.7 billion (about $15.2 billion) in 2025.
Who Controls and Leads Harel?
The Hamburger family, which founded the group, controls approximately 49.9% of Harel's shares, with the remaining 50.1% publicly held and included in the TASE TA-100 Index. Yair Hamburger chairs the group, while Nir Cohen and Michel Siboni serve as co-CEOs; Siboni has led Harel Insurance Company specifically since 2009 and previously served as co-CEO of the holding group from 2010 to 2015.
Where Does Harel Sit Among Israel's Insurance Peer Set?
Harel sits inside the top-five Israeli insurance and long-term-savings cluster alongside Migdal, Clal, Phoenix Holdings and Menora Mivtachim. As with its peer set, Harel's institutional weight derives from the long-duration savings pools it administers, making the group, alongside its top-four peers, a principal buyer of Israeli sovereign debt, Israeli equity, and the rising overseas-allocation share that defines the post-2023 long-duration capital flow. AM Best has assigned Harel an "A" (Excellent) financial strength rating.
Read Next in The Olam
- Institutional Capital — The broader pension and insurance capital base
- Migdal Insurance · Clal Insurance · Phoenix Holdings · Menora Mivtachim — Peer set
- Kupot Gemel — Provident funds administered by the group
- Overseas Allocation — The shifting overseas share of Israeli institutional portfolios