|
|
Article: Insurance co disclose returns on real estate investments: Clal Insurance's net average return on investment is 8.5%. Migdal Insurance portfolio leans towards government complexes, at the expense of return on investment.
- Article from:
- Globes
- Article date:
- July 30, 2006
CopyrightCOPYRIGHT 2006 Globes. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Byline: Guy Yamin
Jul. 30--Ministry of Finance Supervisor of Capital Markets, Insurance and Savings Yadin Antebi recently ordered insurance companies to publicly disclose online their real estate investments and the return on these investments on their websites. This order makes it possible to examine the property portfolios of two of the largest insurance investors in Israeli real estate: Clal Insurance Enterprises Holdings Ltd. (TASE: CLIS) and Migdal Insurance and Financial Holdings Ltd. (TASE: MGDL).
Clal Insurance's real estate portfolio almost quadrupled from NIS 350 million in January 2005 to NIS 1.25 billion today. The company exploited low ...