Highlights:
Comprehensive income after tax in the quarter was NIS 562 million, a 3.5% increase compared with the corresponding quarter last year; ROE was 18.5%.
New sales of life and health products continued to grow, generating new Contractual Service Margin (CSM) NIS 514 million in 1Q.26, up 26% compared with the CSM created from new sales in the corresponding quarter last year.
Total CSM continued to grow and amounted to NIS 17.5 billion as of March 31, 2026.
Total premiums, contributions and amounts received for investment contracts grew by 18.2% to NIS 12.6 billion in the first quarter, AUM increased to NIS 595 billion as of March 31, 2026 and to about NIS 630 billion close to the financial results publication date.
Business performance overview:
Comprehensive income after tax in 1Q.26 amounted to NIS 562 million, 3.5% increase compared to NIS 543 million in the corresponding quarter last year. The increase is driven by increase in profits from asset management and credit activity and the growth in investment and financing income, which was partially offset by decrease in profits from life insurance. ROE was 18.5%.
Insurance:
Core profit before tax from insurance activity was NIS 625 million, compared with NIS 685 million in the corresponding quarter last year. The change was due to a statistical increase in the claim amounts in life risks products, partially offset by improvement in core profit in non-life insurance, mainly in the motor segments. Core profits are calculated based on an annual margin of 2% and excluding special effects.
The Group continues ...
