The Harel Insurance and Finance Group concludes 2021 with a big smile and a record in total profit that increased by 83% to NIS 1.52 billion in the past year. In light of the excellent results, the company announced the payment of a special grant to employees, in the amount of NIS 10,000 per employee, in addition to the current annual grant.
The volume of assets under management increased to NIS 362 billion – an increase of NIS 71 billion and 24% during 2021. Harel’s equity increased to NIS 8.9 billion, an increase of NIS 1.1 billion last year. This, after distributing a dividend and repurchasing the company’s shares in the total amount of NIS 397 million.
Simultaneously with the approval of the financial statements, the company’s board of directors approved an additional dividend of NIS 300 million. The return on capital in 2021 was about 18%, while the return on capital in the fourth quarter of 2021 was about 27%.
The volume of premiums earned gross, remuneration and receipts for investment contracts in 2021 grew by about 11% to a peak of about NIS 33 billion, and in the fourth quarter the company showed a sharper increase of about 21% in the volume of premiums.
During the fourth quarter of 2021, the Company completed the two transactions for the acquisition of Shirbit’s insurance operations and the acquisition of provident funds and pension funds from Psagot.