MIGDAL POSTS Q1 PROFIT UP 133%

Migdal, Israel's largest insurance and financial group, posted first-quarter net profit of 180 million shekels ($46.5 million), compared with 77 million a year earlier. It said gains from investments and financing income jumped to 2.65 billion shekels from 1.06 billion, while income from management fees fell to 231.7 million shekels from 237.3 million. Insurance premiums rose 7 percent to 3.9 billion shekels. In March, Generali, Europe's No. 3 insurer, said it was selling its 69.1 percent stake in Migdal to businessman Shlomo Eliahu for $1.1 billion. The deal is still subject to regulatory and other approvals.