Harel Insurance Investments and Financial Services Ltd

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One of Israel's largest insurance companies. It routinely finances and insures construction projects in Israel's illegal settlements throughout the occupied West Bank.

Harel Insurance Investments and Financial Services Ltd is one of Israel's largest insurance and financial services companies. Outside of Israel, Harel invests in residential projects in New York and in a large-scale wind energy project in Poland.

Harel facilitates the expansion of Israel's illegal settlement enterprise in the occupied West Bank by financing and insuring residential construction projects. As documented by Who Profits, in 2021 alone, Harel subsidiary Gamla Harel provided loans or insurance to construction companies for building 693 housing units in an illegal Israeli settlement.

Harel also finances infrastructure projects in service of Israel's illegal settlements. For example, it was part of a consortium of financial institutions, led by Bank Hapoalim, that financed the expansion of the Jerusalem Light Rail, a rail system that cuts through occupied Palestinian land and connects illegal Israeli settlements in occupied East Jerusalem with the western part of the city. Harel is also a partner in the Israel Infrastructure Fund, a private equity fund that supports infrastructure projects, including in and around illegal settlements in the occupied Palestinian territory, according to Who Profits.

The company is also involved in the exploitation of natural resources from occupied Palestinian and Syrian lands. It helped finance the construction of a wind farm located in the occupied Golan Heights. The project, called Emek Habacha, became operational in 2022 and is owned and operated by Israeli company Enlight Renewable Energy. Additionally, Harel has financed the Ketura Sun and Energix-owned Neo'ot Hovav solar fields (both of which are located in the Negev) and has a significant (5.88%) stake in Tera Light, an Israeli company involved in establishing a solar energy field and illegal settlement agricultural cooperatives in the occupied Jordan Valley.

As one of Israel's largest financial institutions, Harel is also involved in Israel's occupation of the occupied Palestinian and Syrian territories through its investments. Harel has a significant stake in multiple companies that are involved in different aspects of the military occupation, including Afcon, Electra, Enlight Renewable Energy, Energix, Formula Systems, Matrix IT, Shapir Engineering and Industry, Shikun & Binui, and ZMH Hammerman. Similarly, Harel is a partial owner of Israeli banks Discount, Hapoalim, First International, Leumi, and Mizrahi Tefahot.

In addition to its involvement in the occupation, Harel has also provided financial services to the Israeli military and police. For example, the company helped finance Policity, the campus and training facility of the Israeli National Police Academy. In addition to training Israeli police forces, the Academy provides training to the Israeli Civil Administration, the Israeli military agency that oversees settlers and Palestinian residents in the occupied West Bank.

Unless specified otherwise, the information in this page is valid as of
13 December 2022