The activities of this segment are primarily conducted through two insurance companies; Israeli insurance company, Phoenix Holdings Ltd. (TASE: PHOE) of which Delek Group holds 55%, and general US insurer, Republic Companies, Inc. that is a wholly owned subsidiary.
The insurance and financial services sector contributed
NIS 61 million
to the Group's net income in the first nine months 2012, compared to a contribution of
NIS 3 million
in the same period last year.
reported net profit amounting to
NIS 114 million
in the first nine months of 2012, compared to
NIS 127 million
last year. This improvement was due to improved equity market returns in the reported period compared to last year.
Republic Companies reported a net income amounting to
in the first nine months of 2012, compared with a net loss of
US$ 25 million
, in the first nine months of last year. Republic's results were affected by adverse weather conditions including hail storms in the States in which Republic operates. However, Republic recorded gains from sale of financial investments for a total of
US$ 21.5 million
in the first nine months of 2012, compared with profits totalling insignificant amounts in the same period last year.
November 28, 2012
, the Board of Directors of Delek Group declared a cash dividend distribution for the third quarter of 2012 in the amount of approximately
NIS 65 million
per share) to the shareholders on record as of
December 12, 2012
and the dividend will be paid on
December 24, 2012
Conference Call Details
The Group will be hosting a
conference call in English
December 2, 2012
UK time and
10:30am Eastern Time
. Management will also be available to answer investor questions.
To participate, please call one of the following teleconferencing numbers. Please begin placing your calls at least 5 minutes before the conference call commences. If you are unable to connect using the toll-free numbers, please try the international dial-in number.