Ayalon Insurance Company Ltd.

About the Company

The company was founded in late 1976 by Levy Yitzhak Rachmani, by means of Shlomo Rachmani and Sons Ltd and the foreign insurance company, New Zealand.Shlomo Rachmani and Sons Ltd is a family-owned insurance agency that was founded by Mr. Shlomo Zalman Rachmani and has been active in Israel’s insurance market for some 80 years.

In April 1986, as a result of reorganization at the New Zealand Group, the latter decided to sell its holdings in Ayalon to the Rachmani family.In July 1987 Ayalon offered its shares to the public.

The principal shareholder at Ayalon is Mr. Levy Yitzhak Rachmani.

The company operates by means of five regional offices – the central district, the Dan region, the Haifadistrict, the Jerusalemdistrict and the Netanya branch, which operate a network of around 1,200 agents and agencies throughout Israel.  The company is active in all areas of general insurance, life insurance and health insurance. The company has a staff of around 510 employees, and the Group as  a whole employs around 708 people.

Principal reinsurers: Swiss Re, Munich Re and Everest Re.

In 2005 Ayalon moved to its new premises:Ayalon Insurance House, a 20 storey building located at 12 Abba Hillel Silver Street, Ramat Gan.

The Shlomo Rachmani College of Insurance and Finance was founded by the Bureau of Insurance Agents in Israel, with the support of the Rachmani family, in memory of the late Mr. Shlomo Rachmani, founder of the Rachmani family’s insurance business.

Subsidiaries

• Ayalon Trustees Insurance Agency Ltd – an agency specializing in pensionary arrangements and serving over 1,000 employers
• Ayalon Canada Ltd – a company that invested in income real estate in Canada.
• Ayalon H.L.B. Assets and Investments Ltd – a company that recently purchased 9 stories in a 20 storey building in the Diamond Exchange complex in Ramat Ganfor use of the company and as income real estate, with a value of around NIS90 million. The rest the building was purchased by companies affiliated with the company.
• Spring Pension Fund Management Ltd – Ayalon holds 75% of this company. The Kali Group and the First International Bank of Israel Ltd are also shareholders in this company.
• Magen Pension Fund Management Ltd – Ayalon will hold 60% of this company on completion of the proceedings and once the necessary authorizations have been obtained.
• Ayalon  Company  Management Provident Funds Ltd -  Ayalon holds 100% of this company

The Company’s Vision

• Cultivating its human capital
• Cultivating its family character
• Cultivating its relationship with the insurance agents

Management

CEO – Mr.  Eyal Zinger

CFO – Mr. Sharon Reich

Long Term Savings Division Manager - ms. Yael Greenwald

VP – General Insurance Division Manager – Mr. Daniel Yaacobi

VP -Marketing Domain Manager – Mr. Moshe Benbenishty

VP -Operation Manager- MR. Israel Dror

VP – Chief Actuary – Mr. Gil Mizrahi 

VP Claims – Ms. Yona Rakovsky, Attorney at Law

VP – Central District Manager – Mr.  Shlomo  Eppler

Substitute of Health Insurance Manager - Mr. Dorit Somberg

VP Human Resources Manager-  Ms. Orna Levy  

 Sale and Marketing Manager – Mr Guy Cohen

VP – Information Systems Division Manager – Ms. Israela  Titelboim

Corporate Secretary and Legal advisor - Mr Israel Mosenson Attorney at Law

 Internal Auditor – Mr. Yehuda Mandelboym,

 Life Pension and Health Manager– Ms. Rachel Pensky

 Investment Department Manager – Mr. Beny Noam

Compliance Officer – Mr. Noam Lev, Attorney at Law

Directorate

Chairman of the Board of Directors – Mr. Noga Rachmani

Mr. Ahron Marcovici.

Mr. Yacov Darzi – CPA, MBA, Chairman of the company’s Audit Committee

Dr. Moshe Tiomkin

Dr. Abraham Knobel

Ester Dallal, Attorney at Law

Ms. Betty Beloshewsky

Company site