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Ayalon Insurance Considers Merging Pension Operations with Altshuler Shaham
Ayalon Insurance is considering merging its new pension operations with Altshuler Shaham, following a proposal from parent company Wishure Globatech, which is acquiring control of Altshuler Shaham. The move aims to leverage scale and infrastructure, potentially allowing Ayalon to enter the broader pension market.
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What happened
- 01Ayalon Insurance is exploring merging its pension operations with Altshuler Shaham, three months after relaunching its own pension business.
- 02Parent company Wishure Globatech, acquiring control of Altshuler Shaham, proposed the potential operational integration.
- 03Ayalon's board approved management's examination of the merger, which could include a stake in the combined entity.
- 04The move aims to benefit from economies of scale and broader distribution channels offered by Altshuler Shaham.
- 05Regulatory hurdles prevented Ayalon from directly acquiring Altshuler Shaham, leading to the current cooperation proposal.
- 06Wishure is acquiring approximately 45% of Altshuler Shaham Finances for about 815 million shekels.
This follows Ayalon's July relaunch of its pension business, which attracted 1.2 billion shekels in its first month. Regulatory issues prevented Ayalon from directly acquiring Altshuler Shaham, leading to the current exploration of operational integration.
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