Clal Insurance Enterprises Holdings Ltd. reported earnings results for the second quarter and first half of 2016. For the quarter, the company reported comprehensive loss of ILS 293 million, which compares with a comprehensive profit of ILS 176 million in the second quarter of 2015. Excluding investment profits and losses posted to capital, the company made a net loss of ILS 355 million in the second quarter of 2016, compared with a net profit of ILS 388 million in the corresponding quarter. In the second quarter the company posted a net profit and comprehensive profit of ILS 17 million, 63% less than in the corresponding quarter, but this is still a not inconsiderable profit, contrasting with the trend in the larger companies. For the first half of 2016, the company's comprehensive loss was ILS 542 million, compared with a profit of ILS 238 million in the corresponding period of 2015. The net loss for the first half year was ILS 588 million, which compares with a net profit of ILS 363 million in the first half of 2015. The company explains the decline in its results mainly by "strengthening of the insurance reserves on account of the low interest rate environment and its effect on capitalization rates in life insurance, long-term care insurance in the health insurance sector, and in non-life insurance". The company also explained that its results were affected by 'additional special provisions in long-term savings' as the company updated its insurance liabilities arising from members' rights.