The acquisition of the Shirbit insurance company by the Harel Insurance Group is underway

The acquisition of the Shirbit insurance company by the Harel Insurance Group is underway: an agreement was signed between Harel Insurance and Shirbit, according to which the Harel Group acquires all of Shirbit's insurance activity, for approximately NIS 102 million.
The insurance company Shirbit, which specializes mainly in private insurance, including car insurance, home insurance, travel abroad and engineering insurance, has more than 100,000 customers and a wide range of agents, along with direct activity. All of these will be absorbed by Harel Insurance In health, life, long-term savings, elementary insurance and financial services.
Completion of the transaction is subject to the regulatory approvals of the Capital Market, Insurance and Savings Authority, the Competition Authority and other approvals.
Harel Insurance and Finance Group CEO Michel Siboni, stated that the signing of the acquisition agreement for Shirbit by Harel Insurance is an outgrowth of the Harel Group's strategy to expand its business.
"This transaction enables Harel to increase the Group's insurance business and continue to establish Harel's position as the leading insurance and finance group in Israel. Said Siboni.
Shirbit CEO Zvika Leiboshor said: "I am pleased that we were able to complete the deal with the Harel Group, thus joining the leading insurance group in Israel, and providing our agents and insureds with added values, advanced technologies and innovative products, along with first-rate financial strength."