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Phoenix Financial

Phoenix Financial, a leading Israeli financial services company with broad Multi-line Insurance and Asset management, Agencies & Credit lines of business.

75 Years of activity

130 USD Billion

AUM as of June 30, 2024

+3

Million

Clients

Eyal Ben-simon, CEO

"Phoenix Financial aims to deliver the best value proposition for our clients and our shareholders. We focus on generating profitable growth and high returns and are committed to share value with our shareholders. Our constant pursuit of excellence and achievements, both at the personal and group levels, is what makes Phoenix a market leader"

about us

TA-35 Leading index

Insurance Rating:

Moody's Baa1, S&P A-

Phoenix Financial is a leading Israeli financials group listed on the Tel Aviv Stock Exchange.

Phoenix serves a significant portion of Israeli households with a broad set of solutions across businesses and client segments. Managing over $130 billion in assets, Phoenix accesses Israel’s vibrant and innovative economy through a robust investment portfolio, creating value for both clients and shareholders.

The company’s lines of businesses include a broad multi-line Insurance business, including a leading P&C operation as well as significant Life and Health businesses, and a high-growth Asset Management, Agencies and Credit business, with the market leading Investment House, a growing Wealth business, a leading financial distribution footprint, and a growing SME credit platform.

All of our activities generate profitable growth, high returns and steady cashflow, which enables Phoenix to maintain its track record of returning value to shareholder through increasing dividends and share buybacks.

Phoenix Highlights

Growing, underpenetrated, and fragmented market

Strong long-term demographic & wealth trends with high compulsory savings rates, potential to double penetration, macro resilience, fragmented, barriers to entry

Strong market position with distinctive growth and performance through the cycle

Leading diversified financial services group with over $130 billion in assets under management (including multi-line insurance, asset management, agencies & credit), delivering best-in-class average 15% ROE and 19% AUM CAGR over the past 5 years

Proven value creation strategy with focus on growth & competitive advantage

Focus on accelerating growth in high ROE businesses, innovation and technology for competitive advantage and efficiency, active management of businesses to unlock & create value, & disciplined capital and investment management / deployment

Creating and unlocking value in high-multiple activities with untapped potential

Significant share of income generated by Asset Management, Agencies & Credit activities with recurring fee-based revenues, strong cash flows, and capital efficiency with plan to unlock value of assets currently held at book value

Cashflow generation driving growing & resilient dividend distributions / buybacks

Highly liquid, cashflow generating platforms with minimal capital needs, enable constant distribution of dividends (5% yield since 2020, at least 40% dividend distribution policy plus annual buyback plans)

Experienced & aligned leadership team backed by strong governance

Deep sector and broad functional experience at both board and management levels

Strong & Professional Leadership

Phoenix is led by top Israeli financial and insurance professionals demonstrating Leadership, High-level of execution, Quality of Service, Customer centric acumen backed by an experienced, diversified, multi-national mix board of directors and strong corporate governance principles.

Vision & Strategy

Vision

Phoenix Financial seeks to deliver distinctive value to clients and partners with a strong broad-range offering of products and services, diverse and tailored distribution, and a commitment to our customer and agent experience.

We aspire to lead the Israeli financial services industry while creating value to our shareholders.

Strategy

Phoenix is executing a proven strategy towards defined mid-term targets while constantly assessing market trends and benchmarks for opportunities and potential risks.

Our strategy consists of 4 value levers:

Accelerated growth in capital efficient, high multiple businesses
Innovation and efficiency that create competitive advantage
Actively manage group portfolio, organization, and talent to drive growth, capture synergies, create, and unlock value.
Optimize capital and investments management and deployment across the group against strategic priorities, while maintaining a clear dividend distribution policy and share buybacks.

The Phoenix provides updates on its strategic execution and progress towards its key financial targets every quarter.

Strategic Targets & Roadmaps

Roadmaps:

Focus on growth engines of asset management (Phoenix Investment House; qualified clients and alternative investments; retirement solutions including pensions and provident funds), insurance agencies managed independently to create and unlock value; and business and consumer credit through its subsidiary Phoenix-Gama.
Leverage and deepen competitive advantages in Insurance including technology for underwriting and claims, hybrid distribution via direct channels and agents, distinctive products, and capital and investment management that creates financial strength, a high solvency ratio, liquidity, and ratings.
Optimize insurance activities including shifting the product mix to more capital-efficient products, increasing operational efficiency, focusing on continuous improvement in service, and reducing volatility and non-operational effects on performance.

Targets for 2027

2 Billion

NIS Comprehensive income (8 NIS per share)

16-18%

ROE

>50%

distributed (dividends and buyback)

Investments

As a leading institutional investor, the size, reputation, and capabilities of the Phoenix create unique access to Israel’s growing, vibrant, and innovative economy. Our market position enables us to identify and create opportunities for value creation for Phoenix’s clients and shareholders.

The Phoenix’s investment team has deep expertise across Israeli equity, fixed income, infrastructure, real estate, and alternative investments. In addition, the Phoenix has a significant and growing focus on international investments and partners with best-in-class asset managers globally.

The Phoenix invests in innovative technologies across various sectors, including but not limited to software and hardware, services, energy, agriculture, financial services, both directly and through venture capital funds.

our values

We believe in leading by example and are committed to conducting business in a fair and responsible manner.

Transparency

We are committed to building trust with our clients, employees, and shareholders by openly sharing information about operations, investment decisions, and financial performance.

Excellency

We are committed to delivering exceptional products and services to our clients while focusing on continuous improvement, innovation, and market leadership.

Collaboration

We foster synergy, combining diverse skills and ideas to achieve shared goals and drive mutual success.

Agility

We aim to adapt swiftly to changing clients' needs and market conditions, making our business more resilient and responsive in a dynamic environment.

Commitment

We are committed to working to create optimal value for customers, agents, employees, and investors.

Professionalism

We are committed to being the best in our practice areas, related to our knowledge levels, skills, and specialization. Long-term professionalism is achieved through research and learning, with training to improve performance.

Empathy

We act with sensitivity to understand the needs of customers, agents, employees, investors, and suppliers. We will be attentive and open in our decision-making processes.

Fairness

We are committed to acting properly and correctly, to uphold processes and behavior without any discrimination towards customers, employees, agents, investors, or suppliers.

Initiative

We are committed to thinking and acting from a wide perspective to advance our work goals, plans, and objectives.

Innovation

We are committed to progress and innovation. We create value through the development of advanced tools, processes, products, and ideas that provide solutions creatively and effectively.

Leadership

We are committed to excellence, success, and influence in every field in which we engage. We will constantly work to be leaders and to lead the path forward.

Price: .t{ direction: ltr; unicode-bidi: embed; } 4,667.00

Change: .t{ direction: ltr; unicode-bidi: embed; } -1.95%

.t{ direction: ltr; unicode-bidi: embed; } 2024-11-21 11:19