Headquarters Israel | Founded 1934 | |
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Stock price MGDL (TLV) 374.50 ILA +3.50 (+0.94%)21 Mar, 5:24 PM GMT+2 - Disclaimer Parent organization Eliahu Insurance Company Ltd. Subsidiaries Hamagen Insurance Company Ltd. Profiles | ||
Migdal Insurance and Financial Holdings Ltd. (Hebrew: מגדל) (TASE: MGDL) is one of the largest and oldest Israeli insurance companies.
History
Migdal was founded in Jerusalem in 1934, the original group of investors included local Palestinian Jews, families from Egypt and Italy and the Italian insurance company Assicurazioni Generali which held a 50% stake and provided the original financial and professional backing.
Generali eventually held 70% of Migdal's shares, and Bank Leumi owns almost 10%.
In September 1996, Migdal made its initial public offering on the Tel Aviv Stock Exchange, selling 20% shares stake.
In March 2012 Assicurazioni Generali sold Migdal to Shlomo Eliahu.
References
Migdal (company) Wikipedia(Text) CC BY-SA