# Phoenix Insurance (Israel) > Mediated Wiki article. Canonical URL: https://mediated.wiki/source/Phoenix_Insurance_(Israel) > Markdown URL: https://mediated.wiki/source/Phoenix_Insurance_(Israel).md > Source: https://en.wikipedia.org/wiki/Phoenix_Insurance_(Israel) > Source revision: 1356409765 > License: Creative Commons Attribution-ShareAlike 4.0 International (https://creativecommons.org/licenses/by-sa/4.0/) {{Short description|Israeli insurance company}} {{Infobox company | name =Phoenix Insurance Company Ltd | native_name = הפניקס חברה לביטוח בע"מ | logo = | logo_size = 100px | image = Givatajjim099.jpg | type = [Subsidiary](/source/Subsidiary) | industry = {{ubl|[Insurance](/source/Insurance)|[Financial services](/source/Financial_services)}} | foundation = {{start date and age|1949}} | founder ={{ill|David Chachmi|he|דוד חכמי}} | location_city = [Givatayim](/source/Givatayim) | location_country = [Israel](/source/Israel) | key_people = Binyamin Gabay (Chairman) | products = {{ubl|[Life insurance](/source/Life_insurance)|[Provident Funds](/source/Pension_fund)}} | parent ={{ill|Phoenix Financial|he|הפניקס פיננסים}} | num_employees = | num_employees_year = | homepage = {{URL |http://www.fnx.co.il}} }} '''Phoenix Insurance Company Ltd.''' ({{langx|he|הפניקס חברה לביטוח בע"מ}}) is an Israeli [insurance](/source/insurance) company that deals with all spheres of insurance. Phoenix is ​​the largest insurance company in the Israeli insurance industry in terms of market value and asset size as of 2023. ==History== The company began with the establishment of "Israeli Insurance Agencies" by David Chachmi, son of Yosef Chachmi, who was the manager of [Barclays](/source/Barclays) Bank in the [Land of Israel](/source/Mandatory_Palestine). Chachmi represented English insurance companies in the Land of Israel, including Phoenix. In 1949, he founded the "Israeli Phoenix" company{{cite web|url=https://www.nli.org.il/he/newspapers/hbkr/1949/09/13/01/article/51?&dliv=none&e=-------he-20--1--img-txIN%7ctxTI--------------1&utm_source=he.wikipedia.org&utm_medium=referral&utm_campaign=%22%D7%94%D7%A4%D7%A0%D7%99%D7%A7%D7%A1+%D7%97%D7%91%D7%A8%D7%94+%D7%9C%D7%91%D7%99%D7%98%D7%95%D7%97%22&utm_content=itonut|title=פניקס ישראל - חברת ביטוח ישראלית חדשה|lang=he|date=1949-09-13|publisher=הבקר|accessdatw=2026-05-27}}, which at the beginning of the 21st century was sold by Chachmi's children, Yossi and Nitza, to Yaakov Shahar and Israel Kaz. The company is fully owned by [Phoenix Financial](/source/Phoenix_Financial) Ltd., which controls additional companies in the fields of insurance, finance, and more. Phoenix Finance's securities are traded on the [Tel Aviv Stock Exchange](/source/Tel_Aviv_Stock_Exchange) on the list of the [35 largest companies](/source/TA-35_Index) in the [Israeli economy](/source/Economy_of_Israel). The company's management is located in the Rose House in [Givatayim](/source/Givatayim). In the 1980s, the company ran into disputes with its partner in the "Arad" insurance company, which eventually bought out his share in the company and merged it into it. From 2009 to 2019, {{ill|Eyal Lapidot|he|אייל לפידות}} served as the company's CEO.{{cite web|url=https://www.themarker.com/markerweek/2012-06-15/ty-article/0000017f-e2d4-d9aa-afff-fbdc30850000|title=התאוששות הפניקס: "חושש שלפידות מגדיל סיכונים שבסוף יביאו להפסדים"|publisher=The Marker|date=2012-06-15|lang=he|accessdate=2026-05-27}} In February 2014, a workers' committee was established for the first time at the company, which signed a collective agreement about two years later.{{cite web|url=https://www.news1.co.il/Archive/001-D-344419-00.html|title=1,000 עובדי הפניקס הצטרפו להסתדרות|lang=he}} In 2019, Lapidot resigned from the position, and Eyal Ben-Simon replaced him. In June 2015, it was announced that a deal had been signed to sell Phoenix Holdings (as it was then called) from the [Delek Group](/source/Delek_Group) to the Chinese [Fosun Corporation](/source/Fosun_International) for NIS 1.8 billion.{{cite web|url=https://www.globes.co.il/news/article.aspx?did=1001046411|title=נחתמה עסקת מכירת הפניקס לפוסון בכ-1.8 מיליארד שקל|publisher=גלובס|date=2015-06-21|lang=he|accessdate=2026-05-27}} In February 2016, the deal was canceled, due to opposition from the Insurance Supervisor at the Ministry of Finance.{{cite web|url=https://www.themarker.com/markets/2016-02-16/ty-article/0000017f-db6a-db5a-a57f-db6aba1f0000|title=עסקת הענק שטורפדה: סלינגר אמרה לא - ומכירת הפניקס לסינים בוטלה|publisher=The Marker|date=2016-02-16}} After several additional acquisition attempts, in November 2019, the sale of the controlling stake in Phoenix Holdings from the Delek Group to Belenus Lux S.a.r.l., held by Centerbridge and Gallatin Capital funds, was completed.{{cite web|url=https://www.bizportal.co.il/capitalmarket/news/article/770243|title=קבוצת דלק: עסקת הפניקס הושלמה בסכום של 1.57 מיליארד שקל|date=2019-11-04|publisher=Bizportal|lang=he|accessdate=2026-05-27}} The company has a large collection of art Israeli, created when it was managed by Yosef Chachmi. On October 30, 2019, the company announced the cessation of marketing of private long-term care insurance.{{cite web|url=https://www.ynet.co.il/articles/0,7340,L-5616309,00.html|title=רשמית: הראל והפניקס מפסיקות לשווק ביטוח סיעודי|publisher=ynet|date=2019-10-30|lang=he|accessdate=2026-05-27}} In 2021, the company was a partner in the establishment of "Bizzy Finance Ltd." The Phoenix Company is the largest institutional investor in Israel in terms of market capitalization, and manages pension savings worth over NIS 360 billion.{{cite web|url=https://www.globes.co.il/news/article.aspx?did=1001436452|title=אייל בן סימון, מנכ"ל הפניקס: "יש התעניינות גדולה בכלכלה הישראלית, אף משקיע זר לא שואל אותי על הרפורמה המשפטית"|date=2023-10-25|publisher=Globes|first=Bar|last=Lavi|accessdate=2026-05-27}} In October 2025, the company acquired, through the "Oren Mizrahi" insurance agency under its control, 86% of the Wobi insurance agency at a value of up to NIS 150 million.{{cite web|url=https://www.calcalist.co.il/local_news/article/rye7grjpxl|title=הפניקס רוכשת שליטה בסוכנות הביטוח Wobi לפי שווי של עד 150 מיליון שקל|publisher=Calcalist|date=2025-10-05|lang=he|accessdate=2026-05-27}} ==References== {{reflist}} Category:Insurance companies of Israel Category:Financial services companies established in 1949 Category:1949 establishments in Israel --- Adapted from the Wikipedia article [Phoenix Insurance (Israel)](https://en.wikipedia.org/wiki/Phoenix_Insurance_(Israel)) by Wikipedia contributors ([contributor history](https://en.wikipedia.org/wiki/Phoenix_Insurance_(Israel)?action=history)). Available under [Creative Commons Attribution-ShareAlike 4.0 International](https://creativecommons.org/licenses/by-sa/4.0/). Changes may have been made.