Harel Insurance

Harel Insurance

Harel Insurance was established in 1938 as an insurance cooperative before becoming a publicly traded company on the Tel Aviv Stock Exchange. The Hamburger family, led by chairman Yair Hamburger and CEO Tal Hamburger, remains the controlling shareholder, managing the firm's investment portfolio through a centralized insurance investment office structure. The firm's investment strategy concentrates on real estate, infrastructure, private credit, and energy transition assets, with a focus on direct and co-investment opportunities. Offices in La Jolla, Cambridge, New York, London, Hong Kong, and other cities support deal sourcing across North America, Europe, and Asia. Known portfolio holdings include US office and residential properties, European renewable energy projects, and infrastructure debt positions, sourced through both proprietary channels and partner relationships (per public filings). Harel manages over $70 billion in total assets (per public record), with a team operating from its Ramat Gan headquarters and a network of international offices. The firm maintains a separate philanthropic foundation, the Harel Cares Foundation, which supports educational and community initiatives in Israel. Recent activity includes expanding its direct lending platform and increasing allocations to renewable energy infrastructure globally. Harel's structural differentiator is its dual identity as a publicly traded insurance company with a family-controlled investment office. Unlike a pure family office, Harel must manage policyholder obligations and regulatory capital requirements while maintaining the Hamburger family's long-term investment horizon and direct-asset preferences — a hybrid that shapes both its risk appetite and its willingness to hold illiquid positions.