{{Short description|Israeli insurance company}} {{Infobox company | name = Migdal Insurance Company Ltd | native_name = מגדל חברה לביטוח בע"מ | logo = Migdal Insurance Company logo 2024.svg | logo_size = 100px | image = | type = Subsidiary | industry = {{ubl|Insurance|Financial services}} | foundation = {{start date and age|1934}} | founder = | location_city = Petah Tikva | location_country = Israel | key_people = Shlomo Eliahu (owner) | products = {{ubl|Life insurance|Provident Funds}} | parent = Migdal Insurance and Financial Holdings | num_employees = | num_employees_year = | homepage = {{URL |http://www.migdal.co.il/ }} }} {{other uses|Migdal (disambiguation)}}
'''Migdal Insurance Company Ltd.''' ({{langx|he|מגדל חברה לביטוח בע"מ}}) is an Israeli insurance company established in 1934 and deals in a variety of types of insurance, including life insurance, property insurance and health insurance.<ref>{{cite web|url=https://my.migdal.co.il/about/activity-characteristics|title=אודות מגדל - מאפייני פעילות|accessdate=2026-03-30|archive-url=https://web.archive.org/web/20260330180229/https://my.migdal.co.il/about/activity-characteristics|archive-date=2026-03-30}}</ref> The company is fully owned by Migdal Insurance and Financial Holdings.
==History== The Migdal Insurance Company was founded in 1934 in Jerusalem by Jewish business families from Alexandria, most notably businessman {{ill|Edward Agyeon|he|אדוארד אגיון}}, Etienne Bech, and the Italian insurance company Assicurazioni Generali. The company's name was given to it by the poet Hayim Nahman Bialik, as an expression of the resilience and security that the company seeks to provide to its customers. In the 1940s, the company's shareholders also included {{ill|Anglo-Palestine Bank|he|בנק אנגלו-פלשתינה}}, which later became Bank Leumi. Poet Shaul Tchernichovsky served as the company's first physician.<ref>{{cite web|url=https://my.migdal.co.il/about/insurance-company|title=מגדל חברה לביטוח בע"מ ("מגדל ביטוח")|lang=he|accessdate=2026-03-30|archive-url=https://web.archive.org/web/20260330183125/https://my.migdal.co.il/about/insurance-company|archive-date=2026-03-30}}</ref>
The "Migdal" fire insurance mark are among the most common of the 55 types of fire signs identified in Israel from the Mandatory period.<ref>{{cite web|url=https://www.sesh.albit.co.il/exabition.htm|title=סימני אש בישראל|accessdate=2026-03-30}}</ref>
Migdal was the first company to launch executive insurance in Israel, and the first to establish a non-regulated pension fund.
In the 2000s, "Migdal Insurance" is owned by the public company "Migdal Insurance Holdings and Finance Ltd.", controlled by businessman Shlomo Eliyahu.
In 2000, Migdal acquired two insurance agencies, "Simon & Wiesel" and "Mivtach Shamir", and merged them into one company - {{ill|Mivtach Simon Insurance Agencies Ltd.|lt=Mivtach Simon|he|מבטח סימון}}<ref>{{cite web|url=https://www.themarker.com/markets/2000-10-02/ty-article/0000017f-db10-d856-a37f-ffd0814c0000|title=מגדל ממשיכה לרכוש סוכנויות ביטוח: רוכשת את מבטח שמיר ב-90 מיליון שקל|date=2000-10-02|accessdate=2026-03-30|publisher=The Marker|lang=he}}</ref> In 2002, Migdal acquired the Teutsa Pension Fund and merged it with the Tnufa Pension Fund, which it owned. In this way, it became the owner of the largest private pension fund in Israel at the time.<ref>{{cite web|url=https://www.haaretz.co.il/misc/2005-11-06/ty-article/0000017f-f570-d044-adff-f7f998d80000|title=שירביט דוחקת את הראל: זכתה ב-95% מפוליסות ביטוח הרכב של עובדי המדינה|lang=he|publisher=Haaretz|date=2025-11-06|first1=Ram|last1=Dagan|first2=Moti|last2=Basuk}}</ref> In 2004, Migdal acquired the New {{ill|Makefet Pension Fund|he|מגדל מקפת}}.<ref>{{cite web|url=https://www.haaretz.co.il/misc/2004-09-06/ty-article/0000017f-f545-d318-afff-f76742e30000|title=גורביץ, ג'נרלי ודנקנר זכו, אבל האם לא שילמו יותר מדי?|publisher=Haaretz|date=2004-09-06|accessdate=2026-03-30|lang=he|first=Shlomi|last=Shefer}}</ref> In 2006, all of the Migdal Group's pension funds were merged into one fund. The Makefet Personal, Teutsa, Yozma Hadasha and Tnufa pension funds were merged into the {{ill|Makefet Pension Fund|he|מגדל מקפת}}.
In December 2018, the company's chairman, {{ill|Oded Sarig|he|עודד שריג}}, resigned from his position. In his resignation letter, he wrote that "due to the corporate governance practiced by the company, it acts according to short-term considerations, without a defined plan".<ref>{{cite web|url=https://www.themarker.com/markets/2018-12-26/ty-article-opinion/.premium/0000017f-ef49-d223-a97f-efdda2ed0000|title=מגדל של בעיות: התפטרות היו"ר מזמנת נאמן לשלמה אליהו|date=2018-12-26|lang=he|publisher=The Marker|first=Sami|last=Peretz}}</ref>
In November 2019, the company announced the cessation of marketing of private long-term care insurance.<ref>{{cite web|url=https://www.themarker.com/markets/2019-11-11/ty-article/0000017f-f267-dc28-a17f-fe77bb3f0000|title=המשבר בביטוח הסיעודי: גם מגדל מפסיקה לשווק פוליסות פרטיות|lang=he|publisher=The Marker|date=2019-11-11|first=Asa|last=Sason}}</ref>
In January 2021, Migdal had approximately 2.3 million insured persons (individual and business) and approximately 2,800 agents and arrangement managers. The company manages approximately 33% of life insurance and new pension funds in Israel, in terms of premiums and benefits.
==References== {{reflist}}
Category:Insurance companies of Israel Category:Financial services companies established in 1934 Category:1934 establishments in Mandatory Palestine