Combined profits for Israel’s four largest insurance companies - Phoenix, Menora, Clal Insurance, and Migdal - surged by 20% in the second quarter of 2026, reaching NIS 2.85 billion.
These figures do not yet include Harel, which are expected to push the industry’s total profit up to approximately NIS 3.5 billion.
Together, the four industry giants concluded the first half of 2026 with an aggregate profit of NIS 4.72 billion - a 10% increase compared to the first half of 2025. This strong performance and solid profitability were also reflected in stock price gains across the insurance sector over the past week.
Market giants report record quarterly earnings
Among the four major firms, Migdal Group recorded the lowest profit, posting NIS 575 million. At the top of the chart was Phoenix Financial, which delivered the sector's highest earnings, posting NIS 872 million for the quarter and NIS 1.57 billion for the half-year. Buoyed by these strong outcomes, the companies have revised their business targets upward for the coming years.
