Ayalon Insurance Company Ltd.
Ayalon Insurance Company is one of the six largest insurance and finances groups in Israel (in terms of scope of sales), which has demonstrated in recent years growth rates that were among the highest in the insurance and finances industry, in all activity fields. The main and central distribution channel of the company is the insurance agents.
The company is wholly owned by Ayalon Holdings Ltd., a public company controlled by Mr. Levi Yitzhak Rachmani and his relatives (68.78%) and the remainder by the public.
Ayalon Holdings Ltd. was founded at the end of 1976 by Mr. Levi Yitzhak Rachmani, through Shlomo Rachmani & Sons Co. and the foreign "New Zealand" insurance company. Shlomo Rachmani & Sons Co. was a family business agency that had been founded in 1949 by the late Mr. Shlomo Zalman Rachmani (father of Mr. Levi Yitzhak Rachmani). In 1987, as a result of reorganization at the New Zealand Group, New Zealand
decided to sell its holdings in Ayalon to the Rachmani Family.
In July 1987, Ayalon Holdings' shares were first listed for trading at the stock exchange.
The company reflects, in its vision, the slogan it chose – "People serving people" – and its values, the human side of insurance, with emphasis placed on service to the insured and the agents. Ayalon defined, as a main target, its uniqueness through a high level of service to its clients (agents and insured) and accordingly invests significantly in this field.
Transparency and fairness have formed the basis for the company's values since its foundation. The company provides tools and data to agents and insured for the benefit of transparency and reliability. The company's agents and insured have convenient and available digital tools for viewing the various reports, including reports that reflect the policies, balance of assets, their yield, commissions, etc.
The company employs about 900 employees and operates through five districts: Tel Aviv, Center, Haifa, Jerusalem and Netanya Branch, which operates a broad layout of about 2,600 agents and agencies nationwide.
Ayalon has broad backing by leading reinsurers, primarily Swiss Re, Partner Re, Munich Re, Everest Re and Score.
In memory of the late Shlomo Rachmani, founder of the Rachmani Family insurance businesses, the Bureau of Insurance Agents in Israel founded, with the support of the Rachmani Family, the Shlomo Rachmani College for Finances and Insurance. Mr. Levi Yitzhak Rachmani serves as the President of the College.
The company and its controlling shareholders attribute great importance to contribution of the community and routinely donate to various bodies, including disadvantaged populations.
The company emphasizes innovation in all fields of activity and adjustment of the products to its clients' needs. The company has a unique variety of policies, including activity in the engineering insurance field, designated solutions for small and medium businesses, government authorities and large collectives.
Ayalon, as a traditional Sabbath-observing company, was the first insurance company to develop investment channels supervised according to Jewish law, and is the first insurance and finances group that unified all kashruyot, for the benefit of the observant investors.
The company engages in general insurance, long-term savings and health insurance.
In the general insurance field, the company engages in several primary activity fields: mandatory automobile sector, automobile – property sector, other general insurance fields that focus on property insurances (not automobile), as well as liabilities insurances. The company has special specialization in professional liability insurances, including for lawyers, accountants, engineers and insurance agents.
The long-term savings field includes life insurance, long-term health insurance, while focusing on savings for the retirement period as part of insurance policies, as well as insurance coverages for other risks, such as disability, loss of work competence, death, etc.
Health insurance: the company offers to its insured a variety of comprehensive insurances, including caregiving insurances, insurance for surgeries in Israel and abroad, medicines not financed by the state, transplants, dental insurances, etc. The company plans to continue investing in expanding this activity in the future as well.
In January 2017, Ayalon Pension and Provident Funds Ltd. merged with Metav Dash Provident Funds and Pension Ltd., which currently manages all pension and provident funds activity of Ayalon. Ayalon holds 20% of the Ayalon Pension and Provident Funds Ltd. shares.
Ayalon Group has several subsidiaries, including Ayalon Trustees Insurance Agency Ltd., which specializes in pensionary arrangements, and Ayalon HLV Properties and Investments, the real estate arm of the company.
The company has a broad customer service center, for providing professional service to its insured and agents.