The most surprising offer in Israel’s insurance policy business last calendar year finally gained the go-forward at the end of past 7 days when Commissioner of Insurance policies, Personal savings and Cash Marketplaces Dr. Moshe Bareket gave electronic insurance policy company WeSure a allow to management veteran player Ayalon Coverage Company.

WeSure wanted the allow in get to be ready to invest in 67% of Ayalon for NIS 463 million. For the purposes of raising the money, WeSure introduced Caesarea Professional medical Electronics, controlled by Zvi Barak and his wife Anat, into the offer. Barak will invest NIS 270 million in WeSure.




Linked Article content




Barak family to turn out to be partner in WeSure, Ayalon for NIS 270m



WeSure moves up an insurance plan league



Israeli insurtech co WeSure receives New Jersey license







Finance was not, having said that, the only, or even the major hurdle that WeSure experienced to defeat. During the command allow method, the Israel Securities Authority elevated the need to collapse a single of the layers in the Ayalon group construction, since the Focus Law bans a pyramid of much more than two companies that are either community or elevate capital via bonds, and the offer would have build these kinds of a pyramid: WeSure, a public firm beneath it Ayalon Holdings, a next public business down below that Ayalon Insurance coverage, a non-public business but thought of a layer for the reasons of the Focus Legislation and beneath that Ayalon Insurance policies Issuing and Increasing Ltd., a firm that has raised debt in a bond supplying.

In order to offer with the ban, in early March the boards of administrators of Ayalon Holdings and of Ayalon Insurance policy agreed a merger, collapsing two layers of the pyramid into just one (insurance plan companies are exempt from the bond problem provision), so removing the obstacle to completion of the deal. At the conclusion of final 7 days, the Commissioner of Insurance policies, Personal savings and Cash Marketplaces awarded an coverage license to the merged Ayalon Insurance policies.

Soon after the regulatory impediment was eliminated, Bareket gave a control allow to the managing shareholders in WeSure, Emil Vainshel and Nitzan Zeir-Harim, with each other with Zvi and Anat Barak, enabling them to hold, immediately or indirectly, stakes in WeSure World-wide Tech (TASE: WESR), and in the insurance policies organizations that it controls. Before in the 7 days, the Levels of competition Authority gave its acceptance to the offer between WeSure and Caesarea Health-related Electronics.

Posted by Globes, Israel organization information – en.globes.co.il – on May perhaps 22, 2022.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.


![25+ beautiful holiday email marketing templates [you can use for free]](https://sporehberi.xyz/wp-content/uploads/2022/12/25-beautiful-holiday-email-marketing-templates-you-can-use-for-288x300.gif)
More Stories
25+ beautiful holiday email marketing templates [you can use for free]
How to Use Demo Videos in Your Technical Sales Cycle
Leverage TikTok for Marketing and Other Expert Tips for Growing a Business