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As of 10:24 AM 07/10/14 All times are local (Market data is delayed by at least 15 minutes).

clal insurance enterpr hldgs (CLIS) Snapshot

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04/10/14 - $7,400
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08/28/13 - $5,901
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clal insurance enterpr hldgs (CLIS) Details

Clal Insurance Enterprises Holdings Ltd. operates as an insurance and finance company in Israel. The company operates in five segments: Long-Term Savings, Health Insurance, Non-Life Insurance, Finance, and Other. The Long-Term Savings segment provides life insurance policies, pension funds, and provident funds, including study funds; and insurance coverage for various risks, including death, disability, loss of working capacity, and health insurance policies sold as riders to life insurance policies. The Health Insurance segment offers long-term care, healthcare, surgeries and transplants, dental, foreign travel, nursing care, and foreign workers insurance services. The Non-Life Insurance segment provides compulsory motor insurance for bodily injuries to driver of the vehicle, passengers in the vehicle, and pedestrians; motor property insurance coverage for damages caused to policyholder’s vehicle, and for property damages caused to third party by the policyholder’s vehicle; guarantee, credit, and personal accident insurance; third party liability, employers’ liability, professional liability, and product liability insurance; and workers compensation insurance. The Finance segment manages trust funds, investment portfolios, and financial assets; and provides investment banking and self investments, factoring, consumer credits, business financing, and financial leasing services, as well as financial products. The Other segment engages in credit and financing activities; and offers insurance agency services. The company was founded in 1987 and is based in Tel Aviv, Israel.

4,226 Employees
Last Reported Date: 03/17/14
Founded in 1987

clal insurance enterpr hldgs (CLIS) Top Compensated Officers

Chief Executive Officer
Total Annual Compensation: 9.7M
Deputy Chief Executive Officer and Manager of...
Total Annual Compensation: 2.5M
Legal Advisor and Company Secretary
Total Annual Compensation: 2.3M
Compensation as of Fiscal Year 2013.

clal insurance enterpr hldgs (CLIS) Key Developments

IDB Holding Got Bids From Three Consortia

Three bids are submitted to Judge Eitan Orenstin for the acquisition control of IDB Holding Corporation Limited (TASE:IDBH) on November 3, 2013. The bids were submitted by Eduardo Elsztain, together with IDB Holding's bondholders; the Dankner-Alexander Granovsky consortium mostly using money from Emblaze Ltd. (LSE: BLZ)) and Motti Ben-Moshe, whose bid is apparently the lowest of the three. Ben-Moshe offered two alternatives: the acquisition of all the shares of IDB Development Corporation Limited from IDB Holding's creditors for NIS 820 million in cash or the allotment of 21% of IDB Development's shares for NIS 250 million and the purchase of 42% of the company from IDB Holding's creditors for NIS 550 million, for a total of NIS 800 million. As a part of bid Elsztain consortium reduced the percentage of shares of IDB Development, which holds IDB's operational assets that he will own following the settlement to 45% from 50.5% in his previous offer, and added NIS 100 million, bringing his capital injection into IDB to NIS 805 million. Elsztain's group includes Jewish billionaires Michael Steinhardt, George Soros, and Adolfo Shmolarz and they will own 20% of IDB Development, almost half of the holding that the Elsztain consortium will own, Globes" reported. The Dankner-Granovsky consortium is offering two alternatives which are broken down into several options. The first alternative is the acquisition of control of IDB Development 67% to 94% of IDB valued at NIS 1.09 billion and subject to the sale of Clal Insurance Enterprises Holdings Ltd. (TASE:CLIS). This alternative will include a capital injection of NIS 1.17 billion, most of which will go to IDB Holdings' creditors. The second alternative calls for the acquisition of full ownership of IDB Development for NIS 1.05-1.55 billion. The larger amount will be injected if Clal Insurance is not sold. This alternative prices IDB Development at a value of NIS 1.1 billion. Dankner-Granovsky consortium also includes the unknown Noiman family and Netz Group Ltd. (TASE:NETZ).

Clal Insurance Enterprises Holdings Ltd., Special/Extraordinary Shareholders Meeting, Oct 23, 2013

Clal Insurance Enterprises Holdings Ltd., Special/Extraordinary Shareholders Meeting, Oct 23, 2013., at 12:00 Israel Standard Time.

Histadrut Declares Labor Dispute at Clal Insurance Enterprises Holdings Ltd

The Histadrut (General Federation of Labor in Israel) declared a labor dispute at Clal Insurance Enterprises Holdings Ltd. The dispute involves 3,500 employees. The labor dispute was declared in response to the foot dragging in the collective negotiations, which have been going on for six months without any signs of progress. In addition, management is delaying the provision of data needed by the workers' representatives for the negotiations. In addition, unilateral changes have been made in the company's structure and in the employees' job descriptions, including the use of outsourced workers at Clalbit. Histadrut Trade Union Division chairman Avi Nissenkoren called on the management of Clal Insurance to enter into real and practical negotiations, and to discuss with union in full all the issues in dispute in order to settle the employees' job terms and to strengthen the company.


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