The trend of mergers and acquisitions in the world of insurance and long-term savings continues, with Tzabiran acquiring 50% of the consulting company Gonen Glasner. Tzabiran, which among other activities is also a leading body in the field of pension consulting, is a company to protect Glasner in order to create the leading pension and insurance consulting company in Israel.
These are the shares of Yaron Shamai, a partner in the consulting company, who was recently appointed head of the clients’ division and distribution channels of the Migdal insurance company. As part of the deal, it was determined that in the future, in about two years, the two companies will merge into their cluster. The merger will create a synergy that will increase the range of services and solutions for customers.
The market for consulting and service to employers is divided between the managers of the arrangement, who have an affinity for products and insurance companies, and objective consultants. Tzviran and Gonen Glasner are the leading entities in objective advice to employers. This is an extensive and very large market and these services are provided to hundreds of companies – which employ hundreds of thousands of employees.
Tzabiran is one of the largest companies in the country in consulting and salary data and benefits for employees. The company has been serving more than 600 employers for nearly 40 years. Gonen and Glasner specialize in advising a wide range of employers in the areas of pensions and savings. It was established about 25 years ago and provides services to about 100 of the leading companies in the economy and advises about 200,000 employees.
Nissim Jerby, a partner and manager at Tzabiran, said upon learning of the deal that “today, there is a strong need to provide employees with tools and services that will help them define and realize their economic goals while addressing the challenges they face. Salaries and benefits to the pension. “
Shimon Gonen, partner and founder of Gonen Glasner, added that “the partnership creates an opportunity to flood technological value services and insurance and service solutions for employers and employees.”
Recently, a number of significant acquisitions and mergers have been seen in the worlds of insurance and savings. For example, about three months ago, Menora Mivtachim announced a huge transaction in the field of insurance agencies, in which it purchased 50% of the agent’s house in Alifim. The total consideration that Menora Mivtachim will pay is NIS 140 million and if certain conditions are met, it will pay an additional NIS 10 million.
Two weeks later, Clal signed a deal to purchase a 30% stake in Newcom Insurance Agency, for NIS 18.2 million. According to the agreement between the parties, Clal has an option to purchase up to 100% of the shares in the agency, which specializes in health insurance products, life insurance and pension and financial savings products.
Many mergers and acquisitions are also taking place within the world of agencies. For example, at the end of 2020, the board of directors of Migdal Agencies, a subsidiary owned by Migdal Insurance Company, approved the merger of the Shaham and Orlan agencies. The merged agent’s house unites about 440 agents, about 100 employees and hundreds of thousands of customer portfolios.