Clal Insurance Enterprises (CLIS) Q4 2025 earnings summary

Executive summary

• Diversified insurance, long-term savings, agencies and credit-card activities delivered NIS 2.289B in 2025 pre-tax core income, up 12% YoY.

• 2025 comprehensive income after tax was NIS 2.266B reported and NIS 2.367B excluding the Special Provision.

Financial highlights

• Shareholders’ equity reached NIS 10.8B at Dec. 2025, up 49% since Dec. 2023.

• Q4 2025 comprehensive income after tax was NIS 735M, versus NIS 198M in Q4 2024; pre-tax core income rose 10% to NIS 598M.

• AUM was NIS 420B at Dec. 2025, up 77% since Dec. 2020.

Outlook and guidance

• The prior 2027 targets for after-tax comprehensive income of NIS 1.3–1.6B, ROE of 12%–15%, and NIS 200M dividend were exceeded in 2025.

• A new strategic plan and updated targets are expected to be formulated over the next year.

• Israel’s real GDP growth is forecast at 4.7% for 2026, supporting expected momentum in financial activity.