whoprofits

A publicly-traded Israeli company operating in the all fields relating to life insurance, pension, general insurance and health insurance. The compay also provides financial services to businesses and invests in real-estate.

Financing construction on occupied land:

In 2019, Menorah Mevtahim (along with Jerusalem Bank), accompanied the company A. Barkan’s project in the illegal settlement of Ariel, occupied West Bank. Menorah held as collateral the company’s rights in the project, its rights in the bank, and its rights from the Custodian of Abandoned Property in the West Bank and the Israeli Ministry of Construction and Housing (IMOCH), and any grants and funds given to the company from contractors.

In 2019 and 2021, Menorah Mivtahim accompanied the company Shlomo Cohen in its project in the settlement of Ma’ale Adumim, occupied West Bank. Mehorah held as collateral the company’s rights in the project, its rights in the bank, and its rights from the Custodian of Abandoned Property in the West Bank and the IMOCH, and any grants and funds given to the company from contractors.

In 2018, Menorah granted Dalia Eliaspor a mortgage for its project in the settlement neighborhood of Ramat Shlomo in occupied East Jerusalem.

Greenwashing:

Through its subsidiary, Tera Light, the company is involved in a solar energy field currently being established in the Jordan Valley. The field takes up 3000 dunam of land and includes 12 agricultural cooperatives. It is expected to be connected to the electricity grid in 2024, and to generate 360 MW. Annual expected revenue from the field is NIS 82.5 million.

Ownership of 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 7.96% of the share of Shikun & Binui, 5.21% of Enlight Renewable Energy’s shares, 7.57% of Ashtrom‘s Shares, 7.25% of Formula System’s shares, 6.51% of Afcon’s shares, 14.42% of G1‘s shares (constituting the second largest controlling shareholder of the company).

Ownership

The company’s major shareholders are the foreign companies Flems Establishment and Naden Estanlishment, which together own 61.86% of Menorah’s shares, for Tali Griple and Niva Gorwitz respectively, making the two the ultimate controlling shreaholders of Menorah.

Chairman- Eran Griple

CEO- Ari Kalman

Subsidiaries

Menorah Mivtahim Pension and Gemel Ltd. (95.1%); Shumrah Mivtahim Insurance Ltd. (100%); Shumrah Insurace Company Ltd. (100%); Menorah Mivtahim Real Estate Ltd. (100%); E.R.N. Israel Ltd (40%); Ampa Capital LTd. (48.38%); Menorah Mivtahim Agencies Ltd. (100%); H.S.O. Group Ltd. (25%); Bestie Price Ltd. (50%); Mashabim Insruance Agency Ltd. (25%); Pango General Insurance Agency (2019) Ltd. (50%); Orot Life Insurance Agency (2005) Ltd. (80%); Meteor A.A. Pesnion Insurance Agency (202) Ltd. (25%); D.N.I. Networking Ltd. (25%); D.N.I. Pension Insurance Agency (2016) Ltd. (25%); Menorah Mivtahim Capital Raising Ltd. (100%); Menorah Properties and Investments Ltd. (100%); Shumrah Real Estate Ltd. (100%); Shumrah Agencies Ltd. (100%); Sini Insurance Agency Ltd. (100%); Etgar Insurance Agency (2007) Ltd. (100%); Menorah Mivtahim Finance Ltd. (100%); Mimun Beclick Ltd. (40%); Menorah Mivtahim Motrgages Ltd. (100%); Menorah Mivtahim Tech Lt. (100%); Menorah Mivtahim Underwriting and Management Ltd. (100%); Menora Mivtachim Vehistadrut Hamehandesim Nihul Kupot Gemel (60%).

Other subsidiaries include:

Belltrend Menora Enterprises Ltd. (50%); Yatelsis Development Ltd. (60%); Yatelsis River Development Ltd. (60%); Mxr Development Ltd. (50%); Easy Solar SA (35 %); RNA Power SA (35%); D.H.E. SA (35%); Surrey Street, LP (28.1%); Gaia Journal Square Holdings, LLC (38.3%); 120 Wall Holdings, LLC (20.1%); A1 Menora German Holsings, S.a.r.l. (38%); Gaia 200 Plaza Drive, LLC (20%); MM Fenwick, LLC (21.6%); MMZ Peroeprties B.V. (18.5%); Michelson Real Estate Fund IV, LLC (22.5%); MMZ Proeprties Alaska Haarlem B.V. (21.9%); City Center Mengot sp. Z.o.o. (17.6%).

Partners

Co Reinsurance Swiss; EUROPE RE XL; Versicherung R+V AG; KoreanReinsurance Company; General Insurance Corporation of India; Novae; Re CCR; Everest Reinsurance Company; Re Trans Zurich Reinsurance Company; Axis Re Europe.

In 2021, the company signed an agreement with the company Solegreen for the shared investment in renewable energy projects in Italy, Greece and other European countires.

All the information contained in this page is valid until Tue 12/04/2022

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