Phoenix Holdings (TASE: PHOE) — Israel's #2 insurer. Former Delek Group subsidiary. Life, P&C, pensions. TASE-35.
The Phoenix Holdings (TASE: PHOE) is Israel's second-largest insurance and financial-services group. A TASE-35 constituent, Phoenix operates across life insurance, non-life (property and casualty), pensions, provident funds, and asset management. The company traces its modern form to its years as a subsidiary of the Delek Group — the Tshuva family's energy and real-estate conglomerate — before being spun off under Israeli regulatory reforms that separated insurance from industrial conglomerates.
Delek Group Heritage
Phoenix's corporate history is inseparable from the Delek Group and its controlling shareholder, Yitzhak Tshuva. Delek acquired control of Phoenix in the early 2000s as part of a broader Israeli-tycoon era in which industrial conglomerates used insurance companies as captive sources of institutional capital. The 2013–2015 regulatory reforms — driven by the Concentration Committee (Va'adat HaRikuziyut) recommendations — forced the separation of financial institutions from non-financial conglomerates. Delek divested its controlling stake; Phoenix is now publicly traded with dispersed institutional ownership.