Madanes is the largest non-life insurance supplier in Israel, providing insurance and reinsurance solutions as well as related claims handling and risk management services to over 1M clients, including some of the largest group schemes in Israel.

While cherishing its family-based working-environment, the Company employs 420 professionals – underwriters, insurance agents, risk managers, doctors, lawyers, customer service representatives, salespeople, and back-office personnel. The Company is headquartered at the “Madanes House” in Tel-Aviv and operates branches all over the country.

Madanes Insurance Agency was founded by Mr. Shuki Madanes in 1972 and has been the pioneer and main provider of medical malpractice insurance in Israel since 1979. In the early 1970’s, medical malpractice insurance barely existed in Israel. Health practitioners were exposed to a growing trend of medical malpractice claims. Mr. Shuki Madanes has identified this trend and in 1979 Madanes was appointed the recruiting agent of the Medical Defense Union (MDU) in Israel. Within couple of years all the medical practitioners joined the MDU, mainly through group agreements. Since then, the Company has become synonymous with Malpractice insurance with a market share of around 80%.

When the MDU withdrew from the market in 1991 as part of a change in its global strategy, the Company managed to arrange an alternative solution to the Israeli market in a form of a comprehensive insurance program, supported by Munich Re as the lead reinsurer until 2008, and as from 2008 with a top-rated reinsurers’ consortium.

The risk carriers gave Madanes (through MCI) the authorization to handle the claims covered under the policies. The underwriting procedures, drafting of cover notes and policies and collection of premiums were also vested in the hands of Madanes.

The Medical Risk Management Company (MRM) of the Madanes Group was appointed by risk carriers to develop risk-management plans and programs to reduce the exposure to medical malpractice claims and the risk of injury to patients and was the first to develop and introduce risk management and patient safety programs, systems and protocols to hospitals and healthcare institutions in Israel over 20 years ago.

Madanes was also a pioneer in developing health, disability and LTC insurance programs for group schemes, firstly introducing these schemes to the market in the late 1980’s. Over the years Madanes has developed extensive know-how in developing, implementing and servicing group schemes and individuals, and has been trusted with vast claims handling authorities by risk carriers.

Madanes also has a large general insurance portfolio, providing property & casualty insurance to businesses and individuals, and specializing in Professional Indemnity insurance to engineers, lawyers, architects, accountants, real-estate agents, translators and other white-collar professionals.

Through time, the Company developed into a group of affiliated companies, referred to as the Madanes Group. The Group’s subsidiary and affiliated companies complement its insurance business, by offering related products and services, including financial services, medical services, service agreements, and more.

The Company has relationships with the local and international insurance business environment, representing all the leading major Israeli pension funds. The Company established close working relations with leading international reinsurers, such as Swiss-re, Allianz, Munich-Re, Everest-Re, Gen-Re, Berkshire Hathaway, Scor, AIG and many Lloyd’s syndicates.

The Company also holds a license to operate as Lloyd’s cover holder.

In recent years Madanes has gradually started to expand into the international arena, utilizing the vast know-how, expertise and network developed over the years to enter new markets overseas, building the infrastructure for high sustainable growth.

The Company is active mainly in the CEE and CIS regions with local operations and is also in the process of introducing innovative health insurance products to new markets.