Clal Insurance Reports Stable Q2 Profit of 614 Million Shekels Amid Market Growth

Clal Insurance posted a profit of 614 million shekels in the second quarter of 2026, marking a 16% increase compared to the same quarter last year. However, this rise is partly due to a 100 million shekel loss in the previous year's quarter related to a VAT ruling dispute involving credit card companies and the Israeli Tax Authority. Adjusting for this, the current quarter's profit actually declined by 2.8%. The company’s return on equity decreased slightly to 22.5% in Q2 but remains strong.

For the first half of 2026, Clal reported a profit of 1.05 billion shekels, consistent with last year’s adjusted figures and representing a 12% increase over the reported profit. The company declared a dividend payout of 200 million shekels to investors. Clal’s managed assets reached a record high of 456 billion shekels at the end of Q2, up 16% from the previous year, driven by leading returns in provident and advanced training funds.

Clal’s general provident fund delivered a 6.8% return since the start of the year, outperforming the industry average by 1.5%, while its equity fund led with an 11.3% return, nearly 3% above the average. The company also ranks highly in three-year returns. Clal highlighted Israel’s strong economy and unique financial market, characterized by high regulatory barriers and a limited number of large firms, as factors supporting continued growth in the insurance sector.

Yoram Naveh, CEO of Clal Holdings, noted a nearly sixfold increase in net pension and provident fund accumulations in H1 2026, reaching over 11 billion shekels compared to 1.9 billion shekels in the same period last year. He also reported a 23% rise in core credit card business profits to approximately 123 million shekels in Q2. Clal plans to announce new targets by the end of the year.