Insurance, pensions, capital market company.
Ayalon ended 2025 with a sharp earnings jump, but the real test is whether better underwriting, stronger health profitability, and the new savings engine can hold up without unusually supportive capital-market conditions.
Ayalon appears to exit 2025 with better capital flexibility, but without an updated solvency release the June 2025 surplus cannot yet be treated as mostly intact free capital.
Ayalon posted a real improvement in insurance activity in 2025, but earnings quality was not even across the group. P&C and health showed genuine operating progress, while most of life's improvement came from financial margin and deferred-profit release.
