"The five insurance companies are a pillar of resilience in the State of Israel"

Haim Samet, Chairman of Clal Insurance and Finance, stated at the National Economic Conference that the five insurance companies are "a pillar of resilience in the State of Israel" and demonstrated effective operation during the COVID-19 pandemic and war. Clal manages NIS 450 billion in policyholders' assets and invests in numerous private projects, a capability the government could leverage. Samet highlighted Clal's social contributions during the war, including a proposal to provide NIS 2 billion for Gaza border community rehabilitation and economic restart, though this initiative was later abandoned by the government. Clal also donated significant funds, assisted uninsured individuals, and supported projects like making beaches accessible and aiding trauma victims. Regarding asset management, Samet emphasized responsible, courageous, and disciplined long-term management with strict corporate governance, focusing on generating returns through investments in Israeli companies. He noted that MAX, owned by Clal, is evaluating the burdensome regulatory requirements for small bank reform, and becoming a bank is unlikely unless the cost-benefit equation improves. Samet also suggested that Israel, despite elevated risk levels, "could have been insured very effectively."