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Article: Insurance cos 2006 aggregate profit down 3.1 percent to NIS 2.46b: In the first quarter of 2007, insurance companies are expected to record one-time aggregate profit of NIS 876 million.
- Article from:
- Globes
- Article date:
- April 5, 2007
CopyrightCOPYRIGHT 2007 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)
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Byline: Ron Stein
Apr. 5--The year 2006 saw a slight downturn for the insurance companies after a record year in 2005. Insurance companies posted an aggregate net profit of NIS 2.46 billion, down 3.1 percent from 2005. The top five insurance companies posted an aggregate net profit of NIS 2.16 billion, down 2.4 percent from NIS 2.21 billion in 2005.
The leading companies were Migdal Insurance and Financial Holdings Ltd. (TASE: MGDL) and Clal Insurance Enterprises Holdings Ltd. (TASE: CLIS). Migdal posted a record profit of NIS 570 million for 2006, up 2.6 percent from 2005. Clal Insurance's profit fell more than 14.5 percent to NIS 517 million. Harel ...