Harel Insurance Reports Q3 2025 Profit Surge: 33% Quarterly Increase - 65% Year-to-Date Growth

Harel Insurance became the first Israeli insurance company to publish its third-quarter 2025 financial results, reporting a sharp increase in profitability across the group’s core activities.

The company posted a net profit of NIS 840 million for the third quarter, up 33% from NIS 632 million in the same period of 2024. This reflects a 30% return on equity, compared to 26% in the corresponding quarter.

For the first nine months of 2025, Harel reported a record net profit of NIS 2.17 billion, a 65% increase from NIS 1.32 billion in the same period last year. The year-to-date ROE stands at 27%, compared with 19% in 2024.

Underwriting Strength and Capital Market Tailwinds

The company attributed its performance to:

• Improved underwriting results across all insurance lines

• Positive investment income, benefiting from a rising stock market

• Growth in asset management and credit operations

Harel now manages NIS 571 billion in assets.

Life Insurance: Mixed Quarter

• Q3 2025 profit before tax: NIS 244 million

  • Down 24% from NIS 320 million in Q3 2024

• 9M 2025 profit before tax: NIS 792 million

  • Up sharply from NIS 299 million last year

The company noted continued improvement in risk product underwriting, supporting long-term profitability.

General Insurance: Significant Profit Improvement

• Q3 2025 profit before tax: NIS 278 million

  • Up NIS 102 million year-on-year

• 9M 2025 profit before tax: NIS 858 million

  • Up NIS 444 million from the corresponding period

The gains were driven primarily by better performance in property, casualty and liability portfolios.

Health Insurance: Strong Underwriting and Profitability

• Q3 2025 profit before tax: NIS 605 million

  • Up NIS 284 million from Q3 2024

• 9M 2025 profit before tax: NIS 1.16 billion, compared to NIS 944 million last year

Harel highlighted continued underwriting improvement:

• Health insurance underwriting profit: NIS 324 million in Q3

• Total underwriting profit for 9M: NIS 807 million

Asset Management: Continued Expansion

The group’s pension, provident, investment and finance arms delivered:

• Q3 2025 profit before tax: NIS 102 million

  • Up from NIS 68 million in Q3 2024

• 9M 2025 profit before tax: NIS 240 million, vs. NIS 191 million last year