Sapiens recently acquired the “provident fund” company and its activities, which include the operation of the pension fund in Altshuler Shaham, as part of its strategic decision to enter the field of operations. Sapiens, with its significant presence and rich experience in the field of long-term savings in Israel and around the world, combined with “provident fund operations”, will create synergy and added values and allow the Altshuler Shaham pension fund to continue to lead the growth rate.
Despite the corona crisis, Altshuler Shaham Provident and Pension continued to grow in 2020 when it showed a 112% increase in the number of pension fund members in the third quarter of the year compared to the same quarter last year. The company’s pension fund assets also increased by 98% of a total of NIS 7.3 billion on November 30, 2019 to a total of NIS 15.73 billion in assets as of November 30, 2020, making Altshuler Shaham’s pension fund the largest of the investment houses. In Israel.
Sapiens, from the Formula Systems Group, is a leading global provider of software solutions for the insurance market tailored to the areas of life and pension insurance, elementary insurance, reinsurance and more. The company’s solutions enable insurance companies and financial entities to streamline business processes, adapt quickly to changes in the industry and provide innovative services to their customers. Sapiens has extensive experience working with international insurance companies, significant financial entities, governments and banks. The company employs about 3,600 people and serves over 500 customers in North America, Europe, Asia and Israel.
Yair Levinstein, CEO of Altshuler Shaham Provident and Pension, told FUNDER: “This agreement is another leap forward in the pension activity and continues to establish our status as a leading player in the field. We have taken a series of steps in recent years to prepare for the fund’s significant growth in the worlds of service and operation.” International and we welcome the start of the joint work. ”
Roni Al-Dor, CEO of Sapphire, told FUNDER: Sapiens is pleased with the expression of trust on the part of Altshuler Shaham, the largest investment house in Israel and the fastest growing pension fund, and looks forward to continuing to lead the field of pension and operating systems in Israel. We believe that our knowledge and professionalism “They will allow us to be a significant component in the growth of the Altshuler Shaham pension fund.”