Harel Insurance Group Awards Employees 10,000 Shekel Rosh Hashanah Bonus

The Harel Insurance and Financial Group announced on Tuesday, September 8, that it will distribute a 10,000 shekel bonus to each of its approximately 5,000 employees ahead of the Rosh Hashanah holiday. The announcement was made by Group Chairman Yair Hamburger at a company event where singer Omer Adam performed. If all employees receive the bonus, the total payout will amount to approximately 57 million shekels.

This decision follows Harel's strong performance in the first half of 2026, reporting a cumulative profit exceeding one billion shekels. The company has a history of issuing significant bonuses; in September 2015, employees received a pre-tax bonus of 5,000 shekels, totaling 23-25 million shekels, to mark the 80th anniversary of the Hamburger family's insurance activities in Israel and the 40th anniversary of Harel's founding. Employees also received a 10,000 shekel bonus in 2022.

Harel operates without a union committee, with labor relations managed directly between employees and management. Analysts suggest that these substantial bonuses may serve not only as a reward for company performance but also as a strategy to maintain the existing management model and positive employee relations. The company's stock has seen significant growth, increasing by 84% over the past year, reaching a market value of approximately 41 billion shekels. This performance significantly outpaced the TA-35 index, which rose by about 39.5% in the same period. Harel's stock has also outperformed the index year-to-date, with a 65.6% increase compared to the TA-35's 17.4% rise.

The surge in Harel's stock value has also substantially increased the wealth of the controlling Hamburger family. With an estimated 42% ownership, the family's stake has grown in market capitalization by approximately 9 billion shekels over the last 12 months, representing unrealized gains before dividends and stock sales.