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Clal Insurance Enterprises Holdings Ltd

CLIS.TA

Latest Trade

7,243.00ILa

Change

-4.00(-0.06%)

Volume

111,799

Today's Range

7,135.00

 - 

7,256.00

52 Week Range

3,322.00

 - 

7,328.00

As of on the Tel Aviv Stock Exchange ∙ Minimum 15 minute delay

Latest Developments

Clal Insurance Enterprises Holdings Limited's subsidiary Clal Insurance Involved In ILS 42 Million Class Action Lawsuit

Clal Insurance Enterprises Holdings Limited announced that October 7, 2013, legal claim with request for approval as class action lawsuit was filed against the Company's subsidiary Clal Insurance Ltd (Clal Insurance). The lawsuit alleges that Clal Insurance unlawfully rejected claims of its clients, insured with Clal Insurance against personal student's accident for damages resulting from their involvement in violent events and/or for any other criminal offense. Clal Insurance explained its decision resulted from their policy, which does not define assaults as events "unexpected" and/or event which occurred "intentionally ". Therefore, the claims of Clal Insurance's clients mentioned above, where rejected as groundless. The claim covers ILS 420 million as class action lawsuit, plus ILS 47,000 as the Plaintiff's personal claim.

Clal Insurance Enterprises Holdings Limited To Have New Controlling Shareholder, JT Capital Management Limited

Clal Insurance Enterprises Holdings Limited (Clal) made announcement regarding the agreement concluded by IDB Development Corporation Ltd (IDB), which is Clal’s controlling shareholder, and JT Capital Management Limited (JT). The agreement provides for JT’s acquiring IDB’s shares in Clal. October 3, 2013, JT informed that, Clal will be acquired through JT Capital Fund Pte, an organization incorporated in Singapore, owned wholly and indirectly, through JT, by Mr. Li Haifeng, a businessperson from Hong Kong. JT also informed that the group of investors for Clal comprises Mr. Haifeng (approximately 12.5%), New Times Trust Co (approximately 71%), a financial organization incorporated in China and supervised by China’s regulatory institution for banking, and Rongtong Fund Management Ltd (approximately 16.5%), an organization incorporated in China, operating in investments and management of assets, supervised by China’s regulatory body for securities.

Clal Insurance Enterprises Holdings Limited's Subsidiary Is Involved In ILS 100,000,000 Legal Proceedings, Allegation Of Privacy Law Breach And Violation Of Consumer Protection Act

Clal Insurance Enterprises Holdings Limited announced that September 17, 2013, legal claim and request for approval as class lawsuit action was filed against the Company’s subsidiary, Clal Insurance Company (Clal Insurance) and Issta Lines Ltd (Issta). The claim was filed on behalf of Issta's and Clal Insurance's clients alleging to have been contacted by Clal Insurance sales agents, after they ordered airway tickets for travels abroad with Issta, to be offered insurance policies covering those travels. The Plaintiffs allege their personal data must have been transferred from Issta servers to Clal Insurance servers, and traded without their prior explicit approval. Their motion claims a blatant breach of Privacy Law, breach of statutory duty, misrepresentation in violation of the Consumer Protection Act of 5741 (1981), and unjust enrichment, amongst many. Their claim covers ILS 100,000,000 in compensation, or, any other amount equivalent to the value of the data concerned, plus interest rate and linkage. They also request declaratory order stating that Issta and Clal Insurance offered and marketed their products in a manner contradicting the law, a “do” fiat requiring the two companies to change their standards and procedures, and finally, to return to their clients all the wealth surplus generated as result of Issta’s and Clal Insurance’s activities and/or neglect in conduct.

Clal Insurance Enterprises Holdings Limited Wins Court's Ruling to Delay Ministry Of Finance's Nomination Of Trustee For The Company

Clal Insurance Enterprises Holdings Limited (Clal) announced that Tel Aviv-Yaffo District Court issued, August 21, 2013, the ruling prohibiting the Ministry of Finance’s Commissioner for Insurance and Capital Markets, to nominate trustee for the Company. The Court, presided over by Judge Eitan Orenstein, ruled that should such a nomination have already been made, it should be immediately delayed, unless further notice or ruling by the Court. The Court stated that the Ministry’s Commissioner must have been aware, when making the nomination referred to, that Clal is wholly owned by IDB Development Corporation Ltd, which together with IDB Holding Corporation Ltd, has pending court proceedings on the settlement with the two companies’ creditors, with the verdict scheduled to be given August 25, 2013. Therefore, the Court decided, it is correct to delay all trustees’ nominations for Clal.

Clal Insurance Enterprises Holdings Limited Files Request To Annul And Delay Ministry Of Finance's Nomination Of Trustee For The Company

Clal Insurance Enterprises Holdings Limited (Clal) has filed request, with Tel Aviv-Yaffo Court, presided over by Judge Eitan Orenstein, to delay the nomination by the Ministry of Finance’s Commissioner for Insurance and Capital Markets, of trustee for the Company. The nomination has taken place August 21, 2013. Clal has alleged, in its request, that the nomination pre-empties the Court’s own scheduled date of August 25, 2013, when the Court is to give verdict on the settlement of IDB Development Corporation Ltd, which wholly owns Clal, and IDB Holding Corporation Ltd, with the two companies’ creditors. Clal has also alleged that the nomination stands at odds with the Court’s scheduled date for the Company’s sale, and it acts to the detriment of investment plans for IDB Development Corporation Ltd, and to the detriment of Alstein Group’s non-returnable offer to invest in Clal.

IDB Holding Corporation Ltd In Talks To Sell Clal Insurance Enterprises Holdings Ltd Stake-DJ

Dow Jones reported that IDB Holding Corporation Ltd said it is in advanced negotiations to sell a 30% share of its Clal Insurance Enterprises Holdings Ltd. subsidiary to a group of Chinese investors. In a press release, the Israeli conglomerate said the sale price being discussed for Clal Insurance reflects a company value of 4.6 billion shekels ($1.28 billion), more than 25% higher than Clal's market capitalization of ILS3.6 billion. It did not disclose the names of the Chinese investors in talks to buy Clal. IDB Holding was ordered by a Tel Aviv court to sell its 55% stake in Clal, which it controls through wholly-owned subsidiary IDB Development Corp., by August 22 in order to obtain cash to pay bondholders.

Clal Insurance Enterprises Holdings Limited Announces Resignation of Chief Executive Officer, Mr. Shy Talmon; Appoints Mr. Izzy Cohen as Replacement-Complete Story

Clal Insurance Enterprises Holdings Limited announced that its Chief Executive Officer, Mr. Shy Talmon, has resigned from the Company, effective from December 1, 2012. The Company has appointed Mr. Izzy Cohen as its new Chief Executive Officer, with effect from December 1, 2012.

Clal Insurance Enterprises Holdings Limited Announces Interim Cash Dividend For Q2, FY 2012

Clal Insurance Enterprises Holdings Limited announced that it has decided to pay an interim cash dividend of NIS 3.2518428 per share for second quarter of the fiscal year 2012. The dividend ex-date is November 7, 2012, for shareholders on record on November 7, 2012, and the payment date is November 22, 2012.

Clal Insurance Enterprises Holdings Limited Announces Interim Cash Dividend For FY 2012

Clal Insurance Enterprises Holdings Limited announced that it has decided to pay an interim cash dividend of NIS 4.5164482 per share for the fiscal year 2012. The dividend ex-date is June 5, 2012, for shareholders on record on June 12, 2012, and the payment date is June 24, 2012.

Clal Insurance Enterprises Holdings Ltd. Sells Stake in Companies

Clal Insurance Enterprises Holdings Ltd. announced that it has sold its stake in two fully owned subsidiary companies, Broadgate Underwriting Limited and Broadgate Underwriting 2010 Limited to Torus Insurance Holdings Limited. The deal is worth approximately GBP 12 million.

Quote and financial data from Refinitiv. Fund performance data provided by Lipper. All quotes delayed a minimum of 15 minutes.

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