Menora Mivtachim interested in the Romanian private pension market

After having attracted the most important player on the Israeli insurance market to the Romanian market, namely Clal Insurance, Menora Mivtachim is preparing to come onto the Romanian private pension market with other international companies, added quoted sources.

Menora was established in 1935, and in 2006 had a 10 percent market share in 2006 in terms of total gross subscribed premiums, which places it in fifth place among top Israeli insurers.

Following its acquisition of the largest pension fund in Israel, Mivtachim, the company became private pension market leader, and third life insurance and private pension company in the State of Israel. At present the company has income from premiums worth NIS 2.1 billion (some €380 million), and total assets worth NIS 12 bln (€2.17 bln).

The company’s portfolio includes life and health insurance, general insurance, mostly public liability and professional. Its life insurance division attracted more than 200,000 clients, which takes its market share of health policies to 25 percent. Over 400,000 persons have taken out private pension contracts with the company.