Migdal Group is the leading insurance and finance company in Israel. For over 80 years, Migdal has been providing a wide variety of insurance, pension and financial assets management services products for the long term. Migdal Group and its subsidiaries serve over 1.9 million individual and business customers.
Migdal was founded in 1934, in Jerusalem, by families of businessmen who operated under the British mandate, a group of Jewish families from Alexandria and the Italian insurance company Generali. The name Migdal was given to the Company by the national poet Haim Nachman Bialik, who thought of a name that would express strength and security. The poet Shaul Tchernichovsky served as the Company's first physician.
During the forties, the bank which later became Bank Leumi le-Israel joined the Company’s shareholders.
Migdal is currently held by the public company Migdal Insurance and Financial Holdings Ltd., whose shareholders as of February 2014 are: Eliahu Insurance Company ltd– approx. 69.19% and the public – approx. 30.81%.
Ever since it started operating, Migdal was dedicated towards innovation and creativity in developing its products. Thus, Migdal launched the first managers' insurance in Israel. Migdal Group manages about 30% of life assurance and new pension funds in Israel, in terms of contribution fees and premiums. Migdal holds at 100% of Migdal Makefet pension fund, the second largest pension fund in Israel, with asset scope of approx. NIS 26 billion and current pension contributions of about NIS 3.9 billion (update to 2011). Migdal Makefet grew by 15% in 2011 in terms of pension contributions.
Along with Migdal’s good reputation in life assurance and long term savings, the Company deals with a variety of insurance solutions that help our customers in their economic deployment towards the Third Age, which is lasts more. Migdal's consultants are wiling to offer a series of insurance and finances products aimed at providing economic stability for people retiring from work, an orderly administration of retirement monies, stable investments and additional custom-made services for every customer, depending on their plans, needs and assets accrued by them. Within Migdal's health insurance, there are insurance solutions such as: LTC, surgeries, coverage for medications not in the national health basket., etc. Also, Migdal offers a variety of general insurance products (for large and small businesses, individual insurance), health insurance etc.
Migdal also holds insurance and pension arrangements agencies, agent houses and companies which manage investments, credit and real estate. Migdal Capital Markets serves as the Group's arm for granting financial services for customers: investment portfolio management, mutual funds management, execution services on the Stock Exchange, advising, accompaniment and underwriting for IPOs. The combination between all Migdal's arms and its command in the areas of insurance and finances allow the Group's customers to benefit from a reliable and advanced service over the years, both via over 1,800 insurance agents and agencies working with the Group, as well as via Migdal at Your Service call center - a customers call center willing to answer any question and assist all customers.