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FINANCIAL | Insurance / Property & Casualty
shirbit.co.il

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Stage

Acquired | Acquired

Valuation

$0000 

About Shirbit Inusrance

Shirbit Insurance specializes in real estate, auto, and travel insurance.On May 5th, 2021, Shirbit Insurance was acquired by Harel Group at a valuation of $30.59M.

Shirbit Inusrance Headquarter Location

Israel

Latest Shirbit Inusrance News

Harel to buy Shirbit Insurance for a reported NIS 100 million

May 5, 2021

's Startups and Business reporter Michel Siboni, CEO of Harel Insurance Company, at a press conference with CEOs and representatives of insurance companies, at the Finance Ministry office in Jerusalem, November 30, 2016. (Yonatan Sindel/Flash90) Israeli insurance company Harel said Wednesday that it has signed a memorandum of understanding with the Shirbit Insurance Company to acquire its business activities. In a filing to the Tel Aviv Stock Exchange, Harel’s parent firm, Harel Insurance Investments & Financial Services LTD, said that once the deal is completed, all of Shirbit’s customers will become part of Harel. The deal is subject to due diligence and regulatory approvals, the filing said. Calcalist financial website estimated the deal at over NIS 100 million ($31 million). Last year, hackers by the name of BlackShadow claimed responsibility for a massive attack on Shirbit, making off with a vast hoard of personal data relating to its clients, many of whom were civil servants. The hackers subsequently said they had sold a batch of information stolen from the firm. Since that event, a number of companies bid to acquire Shirbit, Calcalist said. Shirbit specializes in real estate, auto, and travel insurance. Parent company Harel Insurance Investments & Financial Services LTD is one of Israel’s largest insurance and finance groups, providing comprehensive financial and insurance offerings. The firm reported a profit  of NIS 834 million in 2020. I'm proud to work at The Times of Israel I’ll tell you the truth: Life here in Israel isn’t always easy. But it's full of beauty and meaning. I'm proud to work at The Times of Israel alongside colleagues who pour their hearts into their work day in, day out, to capture the complexity of this extraordinary place. I believe our reporting sets an important tone of honesty and decency that's essential to understand what's really happening in Israel. It takes a lot of time, commitment and hard work from our team to get this right. Your support, through membership in The Times of Israel Community, enables us to continue our work. Would you join our Community today? Thank you, Sarah Tuttle Singer, New Media Editor

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