One of Israel's largest insurance companies. It routinely finances and insures construction and infrastructure projects in Israel's illegal settlements throughout the occupied West Bank and Golan Heights and provides financial services to illegal settlement councils.
Phoenix Holdings Ltd is one of Israel's largest insurance and investment companies. It also operates the Phoenix Real Estate Debt Fund, a loan provider for U.S. real estate and construction projects, and invests in wind energy projects in the U.S.
Phoenix facilitates the expansion of Israel's illegal settlement enterprise in the occupied West Bank through its ownership of an investments in businesses that service settlements. As documented by Who Profits, Phoenix owns 80% of the Ramot Mall, a large shopping mall located in an illegal Israeli settlement in occupied East Jerusalem. The company also holds a significant (15%) stake in Israeli supermarket chain Yeinot Bitan, which operates stores in three illegal Israeli settlements in the occupied West Bank.
The company also provides financial services to illegal Israeli settlement councils. For example, the company provided property and liability insurance to illegal Israeli settlements Beitar Illit and Oranit between 2020 and 2021, according to Who Profits.
Phoenix is also involved in the exploitation of natural resources from occupied Palestinian and Syrian lands. It participates, for example, in financing a wind farm located in the occupied Golan Heights. The project, called Emek Habacha, became operational in 2022 and is owned and operated by Israeli company Enlight Renewable Energy. Additionally, Phoenix has helped finance the Energix-owned Neo'ot Hovav solar field, located in the Negev.
As one of Israel's largest financial institutions, Phoenix is also involved in Israel's occupation of the Palestinian and Syrian territories through its investments. For example, the company is a major (5%) shareholder in Elbit Systems, Israel's largest weapons company. Phoenix also has a significant stake in various other companies that are involved in different aspects of the military occupation, including Afcon, Electra, Enlight Renewable Energy, Formula Systems, G1 Secure Solutions, Lesico, Oron Group, Shikun & Binui, and ZMH Hammerman. Similarly, Phoenix is a partial owner of banks Discount, First International, Hapoalim, Leumi, and Mizrahi Tefahot.