Harel Insurance Investments & Financial Services Ltd. acquired a 70% stake in a Milan-based insurer for €250 million. This transaction marks the company's first major entry into the European market.
The Italian firm specializes in property and casualty insurance. Harel aims to diversify its international operations and revenue streams through this acquisition.
The deal establishes a platform for future growth across Europe. Regulatory approvals in Israel and Italy remain pending.
Officials expect to finalize the transaction by the first quarter of 2027.