Managemenet of Migdal Insurance and Financial Holdings Ltd. opened trading this morning to mark the inclusion of the company’s share in the TA-35 index.
Migdal is recognized as one of Israel's largest financial groups, providing comprehensive services across insurance, pensions, provident funds, capital markets, and other financial services. At the heart of the Group’s structure is Migdal Insurance, which spearheads the core insurance business. This is complemented by specialized offerings from Migdal Makefet in the pensions and provident funds sector, the investment expertise of Migdal Capital Markets, and the comprehensive network of Migdal Agencies.
The inclusion follows a year of exceptional performance for Migdal's share, which recorded a 100% surge, bringing the company's current market cap to NIS 14.4 billion.
The TA-35 index now features the shares of the five largest insurance groups in Israel, whose combined market cap stands at NIS 116 billion. Additionally, since the beginning of the year, the TA-Insurance index has increased by a substantial 146%.
Yossi Ben-Baruch, CEO of Migdal Holdings, and Ronen Agassi, CEO of Migdal Insurance and Finance, stated: "We are deeply honored to stand here today. This milestone is a testament to 91 years of experience, professionalism, and the tireless dedication of thousands of the Group’s employees and managers. Migdal's return to the TA-35 index is a moment of immense pride, reflecting our standing as a leading insurance and financial group in Israel. It also highlights the depth of our commitment and responsibility in managing hundreds of billions of shekels of public funds. We extend our sincere gratitude to the Group’s controlling shareholder, Shlomo Eliahu, for his unwavering trust and leadership. Our mission is clear: to continue on our growth trajectory and serve as a beacon of stability, trust, and long-term vision - benefiting the Israeli economy, our valued clients, investors, and all stakeholders.”
Yaniv Hirsch, Index Marketing Manager at TASE, said: “Migdal's entry into the TA-35 index underscores its leading position in the insurance and financial sectors. This inclusion will also enhance the exposure of the Israeli public to the company through publicly-held savings, pension funds, and provident funds, which are largely exposed to the TASE indices. I wish you continued success and growth for the benefit of the Israeli economy and the entire investment community."
In the picture: Ronen Agassi, CEO of Migdal Insurance & Finance; Yossi Ben Baruch, CEO of Migdal Holdings; Prof. Amir Barnea, Chairman of Migdal Insurance & Finance; Erez Migdali, Head of Migdal’s Investment Division; Itai Yanai, Head of Migdal’s Financial Division; Dalit Weichselbaum, Head of Migdal’s Corporate Brand and Reputation Division; Adva Shlanger Meiri, Head of Migdal’s General Insurance Division; Eli Berglas, Head of Actuary at Migdal; Noam Hauslich, Legal Counsel & Enforcement Officer at Migdal; Sigal Kleinstern, Head of Migdal’s Human Resouces Division; Tamir Solomon, Internal Auditor of Migdal; Yaniv Hirsch, Index Marketing Manager at TASE; and Ittai Ben-Zeev, TASE CEO.
Credit: Vered Farkash, authorized for use without monetary consideration.
