Leadership change at Bituach Yashir: CEO Kobi Haver announces his departure

A leadership transition is underway in Israel's insurance sector: Kobi Haver, CEO of Bituach Yashir (IDI Insurance), informed the board of directors today of his intention to step down in the coming months. Haver has led the company for over eight years, driving it toward unprecedented growth.

Haver is departing while the company is at the peak of its financial strength. Under his management, Bituach Yashir’s equity increased 2.5 times to approximately 1.3 billion shekels, while the share value, adjusted for dividends, more than doubled. Annual net profit grew from 200 million shekels to 400 million shekels during his tenure.

Just two weeks ago, the company reported its best half-year results in history, with a total profit of 206 million shekels. This commercial success was recognized by the rating agency Midroog, which recently upgraded the company's financial strength rating from Aa3.il to Aa2.il.

During Haver's tenure, Bituach Yashir solidified its status as a leader in the Israeli property and vehicle insurance market. Simultaneously, the company saw significant growth in premium volumes and customer numbers across life, health, home, and travel insurance sectors.

A flagship achievement under Haver was the launch of the "9" brand, a strategic move that introduced a 100% digital insurance model, allowing customers to purchase policies independently online at a final price. The company is also expanding its savings policy business and is preparing to launch a dedicated credit card as part of its loyalty program.

Beyond financial metrics, Bituach Yashir has positioned itself as one of Israel's top 10 employers according to BDI rankings and maintains a high standing in the Maala organization’s ESG index for corporate responsibility.

Reflecting on his departure, Kobi Haver stated: "Bituach Yashir is a highly advanced company with a clear vision and cutting-edge technology. I am proud to have served as its CEO and am confident that the team will continue to reach new heights." He also paid tribute to the three company employees who were killed following the events of October 7, 2023, and confirmed he would oversee a smooth transition to his successor in the coming months.

Muki Schneidman, Chairman of IDI Insurance, thanked Haver for his service: "Kobi led the company with dedication, strategic vision, and professionalism. He built a solid foundation for our future path, and we wish him great success in his future endeavors."

Before joining Bituach Yashir in 2018, Haver held senior positions at Bank Leumi and the Ministry of Finance, where he served as Budget Commissioner from 2004 to 2008. In addition to his business career, he serves as the volunteer chairman of the executive committee of the "Yedidim Atidim" association, which works to integrate youth from the periphery into academia, the IDF, and the economy.