Amit Gal: "The acquisition of insurance agencies has entered a very high pace. We are considering how to address this"

Capital Market Commissioner Amit Gal stated at the Globes conference that the acquisition of insurance agencies has entered a high pace, and warned against moves that could undermine the Israeli pension system. He cautioned that many Israelis are not saving enough for retirement, and opposed proposals to reduce contributions or consolidate savings accounts.

At the "Seeing Beyond the Trend" conference by Globes in collaboration with Altshuler Financial, Capital Market Commissioner Amit Gal warned against moves that could undermine the Israeli pension system, which is among the top in the OECD. Gal said that the acquisition of insurance agencies has entered a high pace, and that the regulator is considering how to address this. He cautioned that many Israelis are not saving enough for retirement, and opposed proposals to reduce contributions or complicate tax benefits. Gal also opposed the conclusions of the Arbitration Committee to consolidate savings accounts, arguing they would raise service costs and harm the average customer. He noted regulatory gaps in trading accounts and hedge funds.

Amit Gal: "The acquisition of insurance agencies has entered a very high pace. We are considering how to address this"