Migdal Insurance and Financial Holdings

Full Text

מגדל אחזקות ביטוח ופיננסים בע"מ

A publicly-traded Israeli company operating in the fields of insurance, pensions and financial services.

Financing settlement transport and energy projects:

The company participated in the financing of the "Beresheet" wind energy project in the occupied Syrian Golan. According to Who Profits research, the planned wind farm takes up an area of 12,654,000 m2 of Syrian land and is expected to generate 130 MW through 42 wind turbines, enough to power approximately 60,000 households. The wind farm will benefit the following settlements: Yonatan, Ramat Magshimim, Mevo Hama, Avnei Eitan, Alonei Habashan, Natur, Kanaf and Maale Gamla. For more on the wind energy industry in the Golan, read Who Profits report Greenwashing the Golan: The Israeli Wind Energy Industry in the Occupied Syrian Golan.

The company, along with Hapoalim Bank and a third firm, financed the expansion of the Red Line and the construction of the Green Line of the Jerusalem Light Rail (JLR) with NIS 3.5 million.  The Jerusalem Light Rail connects Israeli settlements in occupied East Jerusalem with the western part of the city. For more on the JLR, read Who Profits update Spanish CAF and Israeli Shapir Win Tender to Expand Jerusalem Light Rail.

Ownership in complicit companies:

The company holds shares in several companies that are complicit in the Israeli occupation, either through construction on occupied land, bolstering the Israeli security apparatus, exploitation of natural resources and providing services to settlements. It holds 5.26% of the share of Shikun & Binui, 10.65% of Enlight Renewable Energy's shares (constituting the biggest institutional shareholder of the company), 11.11% of Energix's Shares, 11.3 of Electra's shares, 6.88% of Afcon's shares, 9.82 of G1's shares, 11.35% of Matrix's shares and 7.39% of Shapir Engineering and Industry's shares.