According to FUNDER website data,
185 mutual funds hold Idai Insurance shares in the amount of NIS 117.1 million
Funds that hold significant holdings in the stock – for the full list of holdings
The following is a change in the holdings of the mutual funds in the share of Ideai Insurance according to data from FUNDER-MVF
In 2020, the company launched two significant moves from the worlds of technology and innovation as a basis for continued growth and profitability:
• Brand 9 – an innovative digital brand – a new generation of digital and technology in the insurance world in Israel, with a simple and intuitive user experience, an advanced data-based pricing system and a unique service application.
• Establishment of a technological HUB in Israel with the Japanese insurance giant MSI to promote innovation in the field of insurtech and DATA, to create a competitive advantage and value for the customers of both companies.
In 2020 Direct Insurance re-launched the field of health insurance with a variety of health insurances at lower prices than the competition, a wider capacity and an excellent level of service.
CEO of Direct Insurance, Kobi Haber: “We conclude the year 2020 with a high profit, and continue to show an improvement in the underwriting profit, despite the challenges in the business environment and the effects of the Corona. We see the 2020 achievements as evidence of the success of the moves we have made in recent years in all areas of the company.”
The business emphases we focus on, including profitable growth, improving the customer portfolio in the automotive industry, and expanding activity in the life, health and property industries, are proving themselves in the profit line.
At the same time, and despite the challenges of the Corona, in 2020 we promoted long-term, technology-intensive and DATA-based strategic moves, through which we build the infrastructure for the company’s continued growth and diversify its sources of profit. Thus, in 2020 we launched two moves from the worlds of technology and innovation – the launch of the 9 brand and the establishment of HUB Innovation with the Japanese insurance giant MSI.
The moves we are leading will form a solid foundation for continued growth in the coming years, and will allow us to continue to lead the direct insurance market, and maintain the profitability tracks we are aiming for. “
IDI. Insurance has published its financial statements for the summary of 2020.
The reports show that the company ended 2020 with a profit of NIS 213 million, compared with a profit of NIS 211 million in 2019. Profitability is mainly due to an improvement in underwriting profitability in most industries. The company continues to show an improvement in the underwriting profit from core operations, which in 2020 amounted to NIS 290 million before tax, compared with NIS 220 million in the corresponding period last year.
Investment profits were affected by the sharp declines in the capital market in March, following the corona crisis, and amounted to NIS 57 million in 2020 (compared with NIS 112 million in 2019).
The change in gross premiums is mainly due to the company’s initiated actions to improve the customer portfolio, lower tariffs in the property vehicle industry due to changes in the competitive environment and the decline in accidents, and the impact of the Corona epidemic on private consumption in general, Health.
Highlights for the results of the fourth quarter of 2020:
Gross premiums in the fourth quarter of 2020 amounted to NIS 525.6 million, compared with NIS 575 million in the corresponding quarter last year, a decrease of 9%. The change in gross premiums is mainly due to the company’s initiated actions to improve the customer portfolio, mainly in the automotive and housing industries, lowering tariffs in the real estate industry due to changes in the competitive environment along with the decrease in accidents, and the effect of declining private consumption and discounts.
In the fourth quarter, gross earned premiums amounted to NIS 600.9 million, compared with NIS 652.6 million in the corresponding quarter last year, a decrease of 8%.
Gross premiums from general insurance business amounted to approximately NIS 383.7 million, compared with a total of approximately NIS 429.8 million in the corresponding quarter last year, a decrease of approximately 11%. The decrease in gross premiums is mainly due to the company’s initiated actions to improve the customer portfolio; From lowering tariffs in the property vehicle industry due to changes in the competitive environment and the decrease in the frequency of accidents (along with growth in other property industries and other liabilities), as well as the effect of declining private consumption and discounts, in general – and in the vehicle industries in particular.
Premiums earned gross from life insurance business amounted to NIS 77.6 million, compared with NIS 78.9 million in the corresponding quarter last year, a decrease of 2%. Premiums in life insurance without savings grew by about 6% compared to the premium for savings products, which decreased by about 57% (the executive insurance product in Run Off from 2013). The increase in the life insurance premium is mainly due to an increase in the number of customers and the volume of activity, however the effect of the corona epidemic has moderated the growth rate.
Premiums earned gross from health insurance business amounted to NIS 64.3 million, compared with NIS 66.4 million in the corresponding period last year, a decrease of 3%. The change in gross premiums stems from the decision to reduce the targets in personal accidents in light of the heavier regulation and the cessation of marketing of travel insurance product abroad during the Corona period.
Income from net investments, including other comprehensive income before tax, amounted to a profit of NIS 53.6 million, compared with a profit of NIS 53.3 million in the corresponding period last year, of which investments not attributable to participating policies in profits of NIS 37.9 million “Compared with an amount of approximately 43.3 in the corresponding period last year. The decrease in investment income in the fourth quarter is due to a gain from revaluation of investment real estate in the corresponding quarter last year, as indicated in Note 8 to the financial report.
Sales, administrative and general expenses amounted to approximately NIS 142.8 million, compared with a total of approximately NIS 147.9 million in the corresponding period last year, a decrease of approximately 3%.
The total profit before tax from the general insurance segment amounted to NIS 77.0 million, compared with a profit of NIS 15.2 million in the corresponding quarter last year. The increase is due to an improvement in results in all industries, which is partially offset by a decrease in investment income.
The total profit before tax in the field of life insurance amounted to approximately NIS 23.7 million, compared with a total of approximately NIS 18.6 million in the corresponding quarter last year. An increase of about 27%, mainly due to a low claims ratio compared to the corresponding quarter last year, as well as an increase in the portfolio.
The total profit before tax in the field of health insurance amounted to NIS 1.2 million, compared with NIS 9.1 million in the corresponding quarter last year. The decrease is mainly due to a high claims ratio, among other things due to the development of claims in a previous period in the personal accidents sub-industry, along with an improvement in underwriting profit in other health products and a decrease in liabilities in the overseas travel industry compared to the corresponding quarter last year.
The total profit before tax from the areas of activity amounted to approximately NIS 101.9 million, compared with approximately NIS 43 million in the corresponding period last year, an increase of approximately 137%.
Total profit for the quarter amounted to NIS 74.1 million, compared with NIS 45.1 million in the corresponding period last year, an increase of 64%. The increase is due to an improvement in the underwriting profitability of life insurance and in all branches of general insurance, offsetting a decrease in the underwriting profitability in health insurance and income from investments.
Emphasis on results for 2020:
Gross premiums in 2020 amounted to approximately NIS 2,380.5 million, compared with a total of approximately NIS 2,581.2 million last year, a decrease of approximately 8%. The change in gross premiums is mainly due to the company’s initiated actions to improve the customer portfolio, mainly in the automotive and housing industries, lowering tariffs in the property vehicle industry due to changes in the competitive environment along with a decrease in accidents, and the effect of declining private consumption and discounts in general.
Premiums earned gross in 2020 amounted to NIS 2,473.8 million, compared with NIS 2,6227.7 million last year, a decrease of 6%.
Gross premiums from general insurance business amounted to NIS 1,801.3 million, compared with NIS 2,011.6 million last year, a decrease of about 10%, mainly due to the Company’s initiated actions to improve the customer portfolio and lower tariffs in the automotive property industry, due to changes in the environment Competitive and the decline in the frequency of accidents (along with growth in other property and other liabilities industries), as well as the decline in private consumption in the whole economy and the provision of discounts, and in the automotive industries in particular, due to the corona plague.
Premiums earned gross from life insurance business amounted to NIS 320.2 million, compared with NIS 306.5 million last year, an increase of 4%. Premiums in life insurance without savings grew by about 8%, compared with the premium for savings products, which decreased by about 19%. As mentioned, the company stopped marketing the executive insurance product as early as 2013, and the product is in Run Off. The increase is mainly due to an increase in the number of customers and the volume of activity. However, the effect of the corona epidemic moderated the growth rate.
Premiums earned gross from health insurance businesses amounted to approximately NIS 259.3 million, compared with a total of approximately NIS 263.1 million last year, a decrease of approximately 1%. The change stems from the decision to reduce the targets in personal accidents in light of the heavier regulation and the cessation of marketing the travel insurance product abroad during the Corona period.
Income from investments including other comprehensive income before tax amounted to NIS 71.9 million in the year of the report, compared with a total of NIS 144.4 million last year, of which income from investments including other comprehensive income before tax is not attributed to participating policies in profits in the amount of NIS 56.7 million. NIS million in the year of the report, compared with NIS 112 million last year, a decrease of 49%. The decrease in profit is due to sharp declines in the capital market in the first quarter of the year as a result of the effect of the corona epidemic, some of which were corrected later in the year.
Sales, administrative and general expenses amounted to approximately NIS 566.7 million, compared with a total of approximately NIS 563.0 million last year, an increase of approximately 1%. During the reporting period, the company underwent a process of streamlining and adjustments to the scope of activity, due to the corona epidemic. This process led to a decrease of about 3% in expenses compared to the corresponding period last year, despite an increase in commissions for business partners and a special grant for employees during the corona period. This decrease was offset by a decrease in deferred acquisition expenses.
The total profit before tax from the general insurance sector in the year of the report amounted to approximately NIS 199.2 million, compared with an amount of approximately NIS 166.4 million last year, an increase of approximately 20%. This increase is due to an improvement in results in most industries and is partially offset by a decrease in investment income.
The total profit before tax from life insurance and savings businesses amounted to approximately NIS 94.1 million, compared with approximately NIS 78.9 million in the corresponding period last year, an increase of approximately 19%. The increase is mainly due to a low claims ratio compared to last year as well as an increase in the case.
The total profit before tax in the field of health insurance amounted to NIS 31 million, compared with NIS 45.8 million last year. The decrease is mainly due to a high claims ratio, among other things due to the development of claims of previous periods in the personal accidents sub-industry, along with an improvement in underwriting profit in other health products and a decrease in liabilities in the travel industry abroad compared to the same period last year.
The total profit before taxes on income amounted to NIS 323.3 million, compared with a profit of NIS 309.2 million last year, an increase of 5%.
Total profit amounted to NIS 213.3 million, compared with NIS 210.7 million last year, an increase of 1%.