The Phoenix Companies

Phoenix Holdings Publishes Financial Statements for Q4 and 2023

Retrieved on: 
星期三, 三月 27, 2024
Professional Services, Business, Insurance, Finance, Asset Management, Consulting, Banking, Friends, The Phoenix Companies, Growth, Memory, Share repurchase, Corporation, Policy, TLV, Acquisition, Tel Aviv Stock Exchange, Life, Credit, Solvency, Asset management, Report, SME, Analyst, Safety, Barzilai Medical Center, P&C, Holding, Collection, Pain, Rehabilitation, Mobile phone

Phoenix Holdings Ltd., a leading Israel-based financial, insurance, and investment group (TLV:PHOE) (“Phoenix,” the “Group,” or the “Company”), today reported its results for the fourth quarter of 2023 and calendar year 2023.

Key Points: 
  • Phoenix Holdings Ltd., a leading Israel-based financial, insurance, and investment group (TLV:PHOE) (“Phoenix,” the “Group,” or the “Company”), today reported its results for the fourth quarter of 2023 and calendar year 2023.
  • Phoenix is financially resilient with high levels of liquidity and a high Solvency II ratio for Phoenix Insurance, which reached 209% with transitional measures as of September 30, 2023.
  • Comprehensive income before tax in 2023 amounted to NIS 241 million, compared to NIS 235 million in 2022.
  • Comprehensive income before tax in 2023 amounted to NIS 307 million, compared to NIS 300 million in 2022.

Phoenix Holdings Consolidates Credit Activities in Phoenix-Gama Platform

Retrieved on: 
星期二, 十二月 12, 2023
Finance, Professional Services, Residential Building & Real Estate, Construction & Property, Insurance, The Phoenix Companies, TLV, Growth, Holding, Bank, Risk management, Financial services, Retail

The transfer of Phoenix Construction Finance Ltd. from Phoenix Insurance to Phoenix-Gama creates a leading credit platform for clients with significant credit portfolios and creates and unlocks value in Group’s credit activities.

Key Points: 
  • The transfer of Phoenix Construction Finance Ltd. from Phoenix Insurance to Phoenix-Gama creates a leading credit platform for clients with significant credit portfolios and creates and unlocks value in Group’s credit activities.
  • The consolidation includes the transfer of Phoenix Construction Finance from Phoenix Insurance to Phoenix-Gama to offer an extensive value proposition to the Group’s clients and the management of a significant credit portfolio under a single specialized platform.
  • The consolidation will also maximize synergies between the Group's various credit activities, creating a platform with significant growth potential.
  • The concentration of most of the Phoenix’s credit activities under the management of Phoenix-Gama will enable us to maximize the potential of the Company’s existing credit activities while offering optimal credit and financing solutions to our clients.

Phoenix Holdings Publishes Financial Results for Q3 2023, with Continued Improvement in Core Income

Retrieved on: 
星期四, 十一月 30, 2023
Professional Services, Business, Insurance, Finance, Asset Management, Consulting, Banking, The Phoenix Companies, Courage, ROE, Tel Aviv Stock Exchange, Hope, Organization, Analyst, Corporation, Barzilai Medical Center, Report, TLV, Person, Total, Memory, Growth, Holding, P&C, Tourism, Real estate, Beauty salon, Management, Cryptocurrency, Phoenix, Psagot

Phoenix Holdings Ltd., a leading Israel-based financial, insurance, and investment group (TLV:PHOE) (“Phoenix,” the “Group,” or the “Company”), today reported its results for the third quarter of 2023.

Key Points: 
  • Phoenix Holdings Ltd., a leading Israel-based financial, insurance, and investment group (TLV:PHOE) (“Phoenix,” the “Group,” or the “Company”), today reported its results for the third quarter of 2023.
  • Phoenix made direct donations and facilitated donations from organizations and people around the world for immediate and urgent needs.
  • The results for the third quarter of 2023 reflect the continued improvement in core income across the Group’s activities and the continued execution of our growth strategy in the insurance, asset management, distribution, and credit businesses.
  • The comprehensive income before tax for the third quarter of 2023 amounted to NIS 22 million, compared to a comprehensive income of NIS 24 million before tax in the third quarter of 2022.

Global Rating Agency S&P Publishes A- International Rating for Phoenix Insurance

Retrieved on: 
星期二, 九月 12, 2023
Professional Services, Insurance, Finance, S&P, Holding, The Phoenix Companies, TASE, Risk management, Financial services

Phoenix Holdings Ltd., a leading Israel-based insurance, asset management, and financials group (TASE: PHOE) (“Phoenix”), announced that global rating agency S&P has awarded its subsidiary Phoenix Insurance an international rating of A- with a stable outlook.

Key Points: 
  • Phoenix Holdings Ltd., a leading Israel-based insurance, asset management, and financials group (TASE: PHOE) (“Phoenix”), announced that global rating agency S&P has awarded its subsidiary Phoenix Insurance an international rating of A- with a stable outlook.
  • Phoenix Insurance is the first sizable Israeli insurance company to have been awarded two international ratings and the only insurance company to be actively rated on ESG by S&P.
  • The review also states that Phoenix Insurance has a strong capital structure with sound capital raising capabilities, which support the financial resilience of Phoenix.
  • The rating and outlook for Phoenix Insurance are indicative of Phoenix’s capital raising opportunities in global markets, with a growing base of international equity investors.

Phoenix Holdings Ltd. Publishes Financial Results for Q2 2023, With Continued Improvement in Income From Core Activities

Retrieved on: 
星期四, 八月 24, 2023
Professional Services, Health, Insurance, Health Insurance, Finance, Personal Finance, Holding, Travel, Epsilon, Tel Aviv Stock Exchange, Moody's Investors Service, CASCO, Long-term care, P&C, Solvency, Incidence, Report, Corporation, TASE, Gama, NIS, The Phoenix Companies, Analyst, Total, Bank, Management, Retail, Real estate, Audit, Cryptocurrency, Health insurance, Psagot, Phoenix

Phoenix Holdings Ltd., a leading Israel-based financial, insurance, and investment group (TASE:PHOE) (“Phoenix,” the “Group,” or the “Company”), today reported its results for the second quarter of 2023.

Key Points: 
  • Phoenix Holdings Ltd., a leading Israel-based financial, insurance, and investment group (TASE:PHOE) (“Phoenix,” the “Group,” or the “Company”), today reported its results for the second quarter of 2023.
  • Total comprehensive income in the second quarter of the year amounted to NIS 217 million, compared to NIS 184 million last year, reflecting 9% return on equity.
  • Core income from activities in the second quarter of 2023 amounted to NIS 357 million, which reflects a 15% core (normalized) return on equity.
  • Phoenix reports an improvement in the loss ratio in the CASCO subsegment, despite the higher incidence of vehicle theft.

S&P Maalot Raises Rating of Phoenix Holdings and Phoenix Insurance

Retrieved on: 
星期二, 七月 11, 2023
Professional Services, Insurance, Finance, Solvency, Holding, The Phoenix Companies, Face, TASE, Risk management, Phoenix

Phoenix Holdings Ltd., a leading Israel-based diversified financial, insurance, and investment group (TASE: PHOE) (“Phoenix,” the “Group,” or the “Company”), today announced that rating agency S&P Maalot raised the ratings of Phoenix Holdings and subsidiary Phoenix Insurance.

Key Points: 
  • Phoenix Holdings Ltd., a leading Israel-based diversified financial, insurance, and investment group (TASE: PHOE) (“Phoenix,” the “Group,” or the “Company”), today announced that rating agency S&P Maalot raised the ratings of Phoenix Holdings and subsidiary Phoenix Insurance.
  • Phoenix Insurance rating raised to ilAAA with stable outlook, the highest rating among Israeli insurance companies
    According to rating agency S&P Maalot, Phoenix Insurance leads market with broad business diversification that contributes to strong performance, solid capital base, and high liquidity
    Phoenix Insurance is on par with leading Israeli banks, and upgrading of Phoenix Holdings reflects position as Israel’s leading financial group
    Rating agency S&P Maalot has rated Phoenix Insurance, the Group’s insurance subsidiary, ilAAA with a stable outlook, the highest rating ever given to an Israeli insurance company and the same rating it has given to Israel’s leading banks.
  • In addition, S&P Maalot rated Phoenix Holdings as ilAA.
  • The Phoenix has significant asset management, distribution, and credit businesses, which support the Group’s income generation and cash flows.

Phoenix Holdings Reports Results for the First Quarter of 2023

Retrieved on: 
星期三, 五月 31, 2023
Asset Management, Professional Services, Insurance, Finance, Holding, Epsilon, Tel Aviv Stock Exchange, Bank statement, Policy, The Group, Long-term care, Life, Pension, P&C, Multimedia, Assets under management, AUM, ETF, Acquisition, Investment, Health insurance, TASE, Distribution, Surf Life Saving New Zealand, Growth, NIS, The Phoenix Companies, Credit, ROE, Financial services, Cryptocurrency, Financial adviser, Bank, Reinsurance, Life insurance, Mobile phone, Management, Real estate, Phoenix

Phoenix Holdings Ltd., a leading Israel-based diversified financial, insurance, and investment group (TASE: PHOE) (“Phoenix,” the “Group,” or the “Company”), today reported its results for the first quarter of 2023.

Key Points: 
  • Phoenix Holdings Ltd., a leading Israel-based diversified financial, insurance, and investment group (TASE: PHOE) (“Phoenix,” the “Group,” or the “Company”), today reported its results for the first quarter of 2023.
  • As of March 31, 2023, equity amounted to 10 billion NIS after distributing dividends of 177 million NIS with respects to 2022 profits.
  • The Phoenix Insurance Company Ltd. (“Phoenix Insurance”) published an updated Solvency ratio of 211% with transitional measures and 149% without transitional measures as of December 31, 2022.
  • The total pre-tax profit for Q1 2023 was 28 million NIS, compared to NIS 12 million in the corresponding period last year.

Moody’s Assigns Phoenix Insurance A2 Rating with a Stable Outlook: Cites Strong Market Position and Capital Adequacy with High Profitability and Liquidity

Retrieved on: 
星期二, 五月 23, 2023
Banking, Professional Services, Insurance, Finance, Growth, Holding, The Phoenix Companies, Solvency, TASE, Bank, Phoenix

Moody’s rating for Phoenix Insurance is similar to the rating assigned to Israeli banks, reflecting the status of the Phoenix as one of Israel’s leading financial institutions.

Key Points: 
  • Moody’s rating for Phoenix Insurance is similar to the rating assigned to Israeli banks, reflecting the status of the Phoenix as one of Israel’s leading financial institutions.
  • According to Moody’s, the rating of the Phoenix is based on market leadership, broad and diverse insurance activities, a high capital adequacy ratio, strong liquidity and profitability, and the support of growing markets and strong new business opportunities.
  • In conclusion, Moody’s highlights that Phoenix Insurance has demonstrated a strong track-record of access to capital which supports it financial flexibility.
  • The rating and outlook assigned to Phoenix Insurance indicate potential for raising capital in international markets in addition to continued growth in Phoenix Holdings’ international shareholder base.

Phoenix Holdings Publishes 2022 Financial Statements and Reports Comprehensive Income of NIS 1.1 Billion with Dividend Distribution, Despite Capital Market Declines

Retrieved on: 
星期四, 三月 23, 2023
Professional Services, Insurance, Finance, Phoenix Group, Holding, Travel, Tel Aviv Stock Exchange, Bank statement, Policy, Long-term care, Aum Mangalam Singlem, P&C, Multimedia, Research, Solvency, Organization, Share repurchase, Report, Trust, Corporation, Greeneye, Investment, TASE, Psagot Investment House, Growth, NIS, ESG, Mortality, The Phoenix Companies, Analyst, Israel Securities Authority, Nostro and vostro accounts, Cryptocurrency, Video game, Holding company, Mobile phone, Bank, Phoenix, Platinum

As of December 31, 2022, equity capital totaled NIS 10.1 billion, following the NIS 160 million dividend distribution from 2022 first half income and a share buyback of NIS 56 million.

Key Points: 
  • As of December 31, 2022, equity capital totaled NIS 10.1 billion, following the NIS 160 million dividend distribution from 2022 first half income and a share buyback of NIS 56 million.
  • Profit from operations (before tax) amounted to NIS 1,796 million in 2022 and NIS 458 million in the fourth quarter of 2022.
  • The comprehensive income in 2022 and in the fourth quarter of 2022 amounted to NIS 611 million and NIS 115 million, respectively.
  • The decrease in comprehensive income before tax in 2022 and in the fourth quarter of 2022 amounted to NIS (958) million and NIS (202) million, respectively.

Medigus: ScoutCam Closes $14 Million Private Placement

Retrieved on: 
星期二, 三月 21, 2023
PDM, OTCQB, CBM, Exchange, Predictive maintenance, Person, Sale, Securities and Exchange Commission (Philippines), Fourth Industrial Revolution, MDGS, Condition, Security (finance), The Phoenix Companies, Regulation

Gross proceeds from the private placement of approximately $14 million are expected to be used for working capital and general corporate purposes, including to further advance Scoutcam's innovative products and technology in the fields of Predictive Maintenance and Condition Based Monitoring, critical pillars of Industry 4.0.

Key Points: 
  • Gross proceeds from the private placement of approximately $14 million are expected to be used for working capital and general corporate purposes, including to further advance Scoutcam's innovative products and technology in the fields of Predictive Maintenance and Condition Based Monitoring, critical pillars of Industry 4.0.
  • The private placement was led by existing investors Mori Arkin, The Phoenix Insurance Company Ltd. (“Phoenix Insurance”) and Shotfut Menayot Israel – Phoenix Amitim (“Phoenix Amitim”).
  • This investment, especially given volatile current market conditions, is a clear indication of their belief in Scoutcam’s strength and high potential,” said Yehu Ofer, Chief Executive Officer of ScoutCam.
  • Concurrently with the closing, ScoutCam and the investors entered into registration rights agreements pursuant to which Scoutcam has agreed to file a registration statement with the Securities and Exchange Commission registering the resale of the securities sold in the private placement no later than 120 days after the closing of the private placement.