Migdal Insurance Holdings reported earnings of NIS 75.6 million for the third quarter. Its net shrank 7% from the parallel quarter of 2000, when it netted NIS 81.5 million.
Profit for the nine months was stagnant at NIS 295.6 million.
Earnings from insurance increased 22% from the parallel to NIS 149.5 million. Life insurance earnings rose by 6% to NIS 122.4 million, and general insurance soared 250% to NIS 27.1 million.
Profit from insurance business for the first nine months of 2001 grew to NIS 496.1 million, compared with NIS 494.4 million for the same period last year.
The third-quarter slide in profit is largely due to an NIS 859,000 loss from investments, compared with revenue of NIS 33.4 million from investments in the third quarter of 2000.
The company's balance as of September 30 stood at NIS 32.6 billion.
During the third quarter, Migdal declared a NIS 190 million dividend. NIS 50 million will be distributed on December 31, and another NIS 140 million on February 28, 2002.