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This morning (February 18, 2018), the management of Phoenix rang the bell to open trading on the Tel-Aviv Stock Exchange (TASE), to mark the company’s inclusion in TASE’s flagship TA-35 Index.
Phoenix was established in 1949 by David Hachmi in partnership with the British insurance company, The Phoenix, and began to be traded on TASE in 1977. The company is engaged in the insurance, pensions, capital market & finance and is considered as one of the five leading insurance groups in Israel. The company employs more than 4,000 employees.
Eyal Lapidot, Phoenix’s CEO: “I am proud that Phoenix has been included in TASE’s flagship index. Phoenix’s inclusion in the index shows that the capital market recognizes the company’s strength and its position as a business leader. Phoenix provides its members with outstanding yields, offers a range of innovative products that provide an optimal solution to the Israeli consumer, is expanding its distribution channels while supporting both its network of agents and also the value proposition in the new digital media, and invests considerable resources in improving customer service”.
Robby Goldenberg, EVP, Head of Trading at TASE: “Phoenix has already been in existence for almost 70 years and began to be traded on TASE 30 years ago. The company today has a market value of NIS 5 billion. Among the objectives of the indices reform was to bring a significant growth in the public share holdings. The immediate impact of inclusion in the index can already be seen: the daily trading volume of Phoenix’s share, which was NIS 3 million in 2017 and had already risen to NIS 7.5 million in January, has jumped to NIS 19 million per day in the two weeks since its inclusion in the index. The company is also included in seven additional indices, including the TA-125 Index, the TA Insurance-Plus Index, the TA Sector-Balance Index and the TA-Maala Index".
Pictured from right to left:
Amnon Neubach, Chairman of TASE’s Board of Directors; Eli Schwartz, Phoenix’s CFO, Nis Agmon, Head of Phoenix’s Service; Ben Sheizaf, Head of Phoenix’s Long-Term Savings; Dafna Shapira-Layla, Head of Phoenix’s Health Insurance; Eyal Lapidot, Phoenix’s CEO; Ittai Ben-Zeev, TASE’s CEO; Asaf Bartfield, Chairman of Phoenix’s Board of Directors; Oren El-On, Head of Phoenix’s Customers’ Division; Shlomo Shamai; Phoenix’s Chief Information Officer; Robby Goldenberg, EVP, Head of Trading at TASE.
