Israeli company to buy Bloom insurance agency
An Israeli insurance company has purchased Bloom insurance for a reported $200 million.
The announcement comes just days after the Israeli Supreme Court ruled that Israel’s military-imposed blockade on Gaza should be lifted, allowing for the import of goods and goods of all kinds, including cement, wheat, dairy products and poultry.
The Israeli government has announced that it will allow imports of all foodstuffs from Gaza.
The insurance company said it will invest $100 million in the development of Gaza, including in building infrastructure, expanding healthcare facilities, and constructing more hospitals.
Israel is not allowed to export foodstamps to Gaza.
Israel has also been forced to stop exporting foodstamp shipments from the West Bank and Gaza, as well as some of its aid.
The new insurance company is expected to become the largest insurer in the Gaza Strip.
The move was made after Israel announced that the blockade on the Strip would end on Tuesday.
“This announcement by Bloom is an important step in the reconstruction process and will create a new insurance industry,” Israel’s Economy Minister Naftali Bennett said.
“We must not forget that it is the Palestinians who are at the heart of the blockade, and this will benefit both sides.”
Bloom was formed in 2015 after the merger of a local insurance company with an Israeli insurance agency.
It has a large Palestinian presence in Gaza, with more than 60 employees, including its chief executive.