Israel Life Insurance Market Size, Trends by Line of Business (Term, Endowment, Life PA&H and Others), Distribution Channel, Competitive Landscape and Forecast, 2021-2025

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The gross written premium of the Israel life insurance industry was ILS41.5 billion ($12.2 billion) in 2021. The market is expected to achieve a CAGR of more than 3% during 2020-2025. The Israel life insurance industry research report provides in-depth market analysis, information, insights, and a detailed outlook by product category for the Israeli life insurance segment. It also provides values for key performance indicators such as gross written premium, paid claims, insurance penetration, and premium by line of business during the review period and forecast period.

Israel Life Insurance Market Overview, 2021 (ILS Billion)

Israel Life Insurance Market Overview, 2021 (ILS Billion)

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The report analyzes distribution channels operating in the segment, gives a comprehensive overview of Israel’s economy and demographics, and provides detailed information on the competitive landscape in the country. The report also gives insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report includes details of insurance regulations and recent changes in the regulatory structure.

Market Size (2021) ILS41.5 billion ($12.2 billion) (GWP)
Forecast Period 2022-2025
CAGR (2020-2025) >3%
Key Lines of Business Endowment, Term Life, Other Life Insurance, and Life PA&H
Leading Companies Migdal Insurance Company Limited, Harel Insurance Company Limited, Clal Insurance Company Limited, The Phoenix Insurance Company Limited, Hachshara Insurance Company, Menora Mivtachim Insurance Limited, Ayalon Insurance Company Limited, IDI Insurance Company Limited, and Aig Israel Insurance Company Limited

Key Israel Life Insurance Industry Trends

In June 2022, information Security Media Group Corp. (ISMG) acquired a majority stake in Xtra Mile Ltd, a B2B lifecycle-marketing agency based in Israel. The acquisition boosted the services offered through ISMG’s CyberTheory business unit in marketing automation and mar-tech stack development. The main focus of the initiative is on emerging cybersecurity vendors who are just beginning their digital marketing journeys.

In May 2022, WeSure Insurance Company Ltd (WeSure) acquired more than 50% of shares in the insurance company Ayalon Holdings Ltd. Both companies involved in the transaction are based in Israel.

Israel Life Insurance Industry Segmentation by Lines of Business

The key lines of business in the Israel life insurance industry are endowment, term life, other life insurance, and life PA&H.

Endowment insurance was the largest contributor to the overall life insurance business while term life insurance was the second-largest contributor. The profitability of the life insurance industry is expected to remain the same over 2021 and 2022 supported by the high barriers to entry of new players and relatively high expected growth rates of life insurance premiums, pension, and provident funds deposits. Pension and provident funds deposits are expected to dominate the premiums and deposits composition in the coming years, primarily driven by regulatory changes to the features of the life unit-linked policies.

Israel Life Insurance Industry Analysis, by Lines of Business, 2020 (%)

Israel Life Insurance Industry Analysis, by Lines of Business, 2020 (%)

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Israel Life Insurance Industry - Competitive Landscape

Some of the leading life insurance companies in Israel are Migdal Insurance Company Limited, Harel Insurance Company Limited, Clal Insurance Company Limited, The Phoenix Insurance Company Limited, Hachshara Insurance Company, Menora Mivtachim Insurance Limited, Ayalon Insurance Company Limited, IDI Insurance Company Limited, and Aig Israel Insurance Company Limited.

Israel Life Insurance Industry Analysis, by Companies, 2020 (%)

Israel Life Insurance Industry Analysis, by Companies, 2020 (%)

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Segments Covered in the Report

Israel Life Insurance Market Lines of Business Outlook (Value, ILS Billion, 2020-2025)

  • Endowment
  • Term Life
  • Other Life Insurance
  • Life PA&H

Scope

This report provides:

  • Comprehensive analysis of the life insurance segment in Israel.
  • Historical values for the Israeli life insurance segment for the report’s review period and projected figures for the forecast period.
  • Profiles of the top life insurance companies in Israel and outlines the key regulations affecting them.

Key Highlights

  • Key insights and dynamics of the Israeli life insurance segment.
  • A comprehensive overview of the Israeli economy, government initiatives, and investment opportunities.
  • The Israeli insurance regulatory framework’s evolution, key facts, taxation regime, licensing, and capital requirements.
  • The Israeli life insurance industry’s market structure giving details of lines of business.
  • Israel’s life insurance reinsurance business’s market structure giving details of premium ceded along with cession rates.
  • Distribution channels deployed by the Israeli life insurers.
  • Details of the competitive landscape and competitors’ profiles.

Reasons to Buy

  • Make strategic business decisions using in-depth historic and forecast market data related to the Israeli life insurance segment.
  • Understand the demand-side dynamics, key market trends, and growth opportunities in the Israeli life insurance segment.
  • Assess the competitive dynamics in the life insurance segment.
  • Identify growth opportunities and market dynamics in key product categories.

Migdal Insurance Company Limited
Harel Insurance Company Limited
Clal Insurance Company Limited
The Phoenix Insurance Company Limited
Hachshara Insurance Company
Menora Mivtachim Insurance Limited
Ayalon Insurance Company Limited
IDI Insurance Company Limited
Aig Israel Insurance Company Limited

Table of Contents

  • 1. Executive Summary
  • 2. Economy Overview
  • 3. Regulatory and Compliance
  • 4. Key Market Trends
  • 5. Summary Trends and KPIs
  • 6. Key Trends by Line of Business

    • 6.1. Endowment
    • 6.2. Term Life Insurance
    • 6.3. Other Life Insurance
    • 6.4. Life PA&H Insurance

  • 7. Competitive Landscape
  • 8. Competitor Profiles
  • 9. Reinsurance

    • 9.1. Regulatory and Compliance

  • 10. Appendix

Frequently asked questions

Israel Life Insurance Market Size, Trends by Line of Business (Term, Endowment, Life PA&H and Others), Distribution Channel, Competitive Landscape and Forecast, 2021-2025 standard reports
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