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Harel signs global affiliation agreement with XL Capital – one of the world’s largest insurance corporations

13/06/2011

This affiliation joins the similar agreement signed a month ago with Germany’s HDI Gerling, and Harel’s seven affiliation agreements with international insurance companies.

A month after signing a global affiliation agreement with Germany’s HDI Gerling, Harel Insurance and Finances has signed another global agreement with XL Capital, one of the world’s largest insurance corporations. XL Capital’s standing in the world gives it a large number of policyholders in leading multinational companies that also operate in Israel. Harel will issue policies to VL Capital’s clients in Israel under the agreement.

The signing of the affiliation agreement with XL Capital further consolidates Harel’s position as the leading Israeli insurance group for international insurance. The affiliation will be managed by Harel’s international division, headed by Shlomo Fuchs, Deputy CEO, General Insurance Manager. The agreement joins the seven international affiliation agreements that Harel has had for many years with international insurance companies around the world: Royal Sun Alliance, Axa, Zurich, Ace, Chubb, Allianz, and HDI Gerling.

Gideon Hamburger, President of Harel Insurance Company, said that the signing of the agreement with XL Capital, one of the world’s leading reinsurance and international insurance companies is another step in the expansion of the insurance services and solutions offered by Harel. Hamburger added, “We have been working for a long time with XL Capital as a reinsurer for Harel, and we can testify to the quality of service that the company provides. The selection of Harel demonstrates the professionalism, experience, and advantage of Harel in the field. This is the eighth company with which the Harel Group has signed an affiliation agreement of this kind, and we are proud that XL Capital has chosen Harel as a Global Partner.”

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