One of Israel's largest insurance companies. It routinely finances and insures construction projects in Israel's illegal settlements throughout the occupied Palestinian territory.
Clal Insurance Enterprises Holdings Ltd is one of Israel's largest insurance companies and pension fund administrators. It also owns shares in Apex, a renewable energy company that operates wind and solar projects in the U.S.; has invested in energy projects in Spain and the U.K.; and has a 49% stake in two London hotels.
Clal facilitates the expansion of Israel's illegal settlement enterprise in the occupied West Bank by routinely financing and insuring residential construction projects. As documented by Who Profits, in 2020 alone, Clal provided loans or insurance to construction companies for building 516 housing units in five illegal settlements.
As one of Israel's largest financial institutions, Clal is also involved in Israel's occupation of the Palestinian territory through its investments. Clal has a significant stake (over 5%) in multiple companies that are involved in different aspects of the military occupation, including Ashtrom, Electra, Formula Systems, Shapir Engineering, and Z.M.H. Hammerman. Similarly, Clal is a partial owner of Israeli banks Discount, Hapoalim, and Leumi. It also invested in digital intelligence firm Cellebrite, whose surveillance and hacking technologies have been used by police agencies, prison authorities, and repressive regimes around the world.
In addition to its involvement in the occupation, Clal has provided financial services to the Israeli military. For example, it participated in financing the construction of Israel's main military base in the Negev.