Phoenix

Phoenix, Migdal, and WeSure have won the Ministry of Finance tender for insuring private vehicles of state employees, retirees, and career soldiers in the IDF for 2027. Over 70,000 vehicles are expected to be covered.

Fattal Holdings is merging its ROOMS workspaces with SwitchUp. Following the deal, valued at 1.4 billion NIS, the Phoenix insurance group will hold a 20% stake in the combined entity.

The Arieli Group has reached a framework agreement with Phoenix Investment House to settle debts, ensuring it retains control of Elron. The lender had previously demanded repayment due to a decline in the value of the pledged shares.

Phoenix concluded the second quarter of 2026 with a total profit of 908 million shekels, a 5% decrease year-on-year. Despite a decline in insurance core profits, the company saw significant growth in investment management and consumer credit activities.

Increase in core profits and growth in assets under management: Phoenix concludes the first half of 2026 with a total profit of 1.57 billion shekels and an increase in business targets. Excellence Trade crossed the 100,000 client threshold. The company will distribute a 400 million shekel dividend and increase its share buyback program.

After Migdal and Clal presented a return on equity of over 22% and record core profits last week, the last three insurance companies complete the picture this week. And on the other side of the stock exchange, residential developers continue to plummet - and this is exactly the contrast that is important to know.

While the top ten remains unchanged, the market saw sharp movements: Palo Alto and Tower shares dropped amid profit-taking and sector volatility, while Phoenix insurance stood out with gains ahead of upcoming quarterly reports.

Phoenix becomes the third largest entity in the provident fund industry. Clal Insurance has its strongest month ever. Altshuler Shaham and Yelin Lapidot continue to lose money at a high rate.

After paying tens of thousands of shekels to a driver injured in an accident, the insurance company "Phoenix" has launched a separate legal proceeding against its famous client, Gidi Gov, claiming he was driving under an active medical disqualification.

An unusual incident in Phoenix, USA, highlighted the importance of air traffic controller vigilance after two American Airlines planes found themselves in the same airspace under the same flight number. The controller reacted in real-time, changing the way he communicated with the crews, thereby preventing a collision.

Israel's largest financial asset firm, Phoenix, is launching its own hedge fund division. The company is recruiting senior industry professionals to compete with established firms like Sphera and Alpha.

The Electricity Authority signals that institutional entities will receive more lenient treatment regarding concentration issues in the electricity sector, even when they hold a series of production and storage assets. Electricity Authority: "There is no impediment to approving the allocation of rights to the Phoenix group based on considerations of economy-wide concentration."

Phoenix's investment values PowerGen at 3.25 billion shekels and is expected to yield the Generation fund a profit of up to 320 million shekels. This move is a key step in financing the acquisition of Shikun & Binui Energy and strengthens PowerGen's position as a leading player in the Israeli energy market.

The American investment fund Affinity Partners, led by Jared Kushner, has sold 2.5% of Phoenix Finance shares to two international institutional investors for approximately 1 billion shekels. Following the transaction, the fund's stake in the company will decrease from 9.9% to 7.4%.

The Phoenix investment house, through its KSM ETF brand, has launched a new fund tracking American software stocks. Despite the sector's decline due to AI-related fears, experts see this as a potential investment opportunity.