Clal Insurance Enterprises (CLIS) Q1 2026 earnings summary

Executive summary

• Pre-tax core income rose 13% YoY to NIS 589M; comprehensive income after tax was NIS 436M vs NIS 409M, and net income was NIS 438M vs NIS 408M.

• AUM reached NIS 426B at March 31, up from NIS 420B at year-end; it stood at NIS 449B shortly before publication.

Financial highlights

• Consolidated profit before tax was NIS 662M vs NIS 605M; basic EPS was NIS 5.44 vs NIS 5.12.

• Shareholders’ equity reached NIS 10.9B at March 31, 2026, up 50% since December 2023.

• Gross premiums, pension and provident contributions, and investment-contract proceeds totaled NIS 7.5B vs NIS 6.9B, up 9%.

• Insurance-service income rose to NIS 316M from NIS 236M; net investment and finance income was NIS 387M vs NIS 302M.

Outlook and guidance

• Prior 2027 targets were NIS 1.3–1.6B comprehensive income after tax, 12%–15% ROE and NIS 200M in dividends; results were described as exceeding targets, with updated targets due after the 2026 strategic plan.

• Bank of Israel forecasts cited GDP growth of 3.8% in 2026 and 5.5% in 2027; security developments, inflation and market volatility remain key uncertainties.

• Issuing and acquiring turnover improved after the April ceasefire and easing of domestic restrictions.