Clal Insurance swings to profit

IDF procurement of Chinese drones raises concerns

The IDB unit posted a net profit of NIS 140 million for the second quarter.

IDB Holding Corp. Ltd. (TASE:IDBH) unit Clal Insurance Enterprises Holdings Ltd. (TASE: CLIS) posted a net profit of NIS 140 million for the second quarter of 2013, compared with a net loss of 127 million for the corresponding quarter of 2012.

Net profit rose to NIS 244 million in the first half from NIS 11 million in the first half of last year.

Published by Globes [online], Israel business news - www.globes-online.com - on August 18, 2013