TEL-AVIV, Israel, May 28, 2026 /PRNewswire/ — Phoenix Financial Ltd., a leading Israel-based financial platform and capital allocator (TASE: PHOE) (“Phoenix,” the “Group,” or the “Company”), today reported its 2026 Q1 results.
highlight
comprehensive income growth -Comprehensive income for the first quarter of 2026 was NIS 702 million, up 24% compared to the same period last year.
Return on Equity (ROE) remained strong – Return on equity in the first quarter of 2026 was 24.1%.
Core earnings growth continued above expectations – Core income for the first quarter of 2026 was NIS 709 million, an increase of more than 13% compared to the same period last year and exceeding expectations.
Asset management provided accelerated growth – Core income from asset management activities for the first quarter of 2026 was NIS 251 million, approximately 23% more than the same period last year; Total assets under management stood at NIS 623 billion at the end of Q1, compared to NIS 610 billion at the end of 2025.
Phoenix is building its own full financial services platform and continuing to disrupt the Israeli financial sector – During the quarter, Phoenix completed the acquisition of digital platform BUYME and wealth manager Fidelis, grew the user base of the group’s apps, and advanced the implementation of AI-based capabilities across sales, service, advisory, underwriting and claims.
Steady growth and high payouts – Group businesses have steady and sustained growth in earnings, cash flows and ROE; Phoenix declared a quarterly dividend of NIS 320 million (NIS 1.3 per share) and executed NIS 85 million in share repurchases during the quarter, for a total capital payout of NIS 405 million, representing 57% of Q1 2026 earnings.
accelerated strategic organic growth
- Phoenix reports comprehensive income of NIS 702 million in the first quarter of 2026 (NIS 2.8 per share), an increase of 24% compared to NIS 568 million in the same period last year.
- Core income totaled NIS 709 million in the first quarter of 2026An increase of 13% compared to NIS 626 million in the same period last year (core income excluding non-operational capital market effects of up and down risk-free interest rates 2.5%, interest rate effects and special items); Growth rate exceeds expectations
- Return on equity (ROE) was 24.1% in Q1 2026, while core ROE stood at 24.4%.
- Accelerated growth in asset management, combining scalable fee-based revenue streams in wealth, retirement and financing; Improving income mix with transition to fee-based businesses – Core income from asset management (including wealth and investments, superannuation, brokers and advisors, payments and financing) totaled NIS 251 million in the first quarter, an increase of 23% compared to NIS 204 million in the same period last year. Driven by accelerated organic growth, efficiency and competitive advantage gains, adjusted EBITDA (on a consolidated basis including minority interests) increased to NIS 442 million in the first quarter from NIS 377 million in the same period last year.
- Growth in AUM and credit portfolio – As of March 31, 2026, total assets under management increased from NIS 610 billion at the end of 2025 to NIS 623 billion, while Phoenix Gamma’s total trade and consumer credit portfolio continued to grow and reached NIS 5.3 billion.
- insurance activity – Core income increased and totaled NIS 458 million in the first quarter of 2026, an increase of 9% compared to NIS 422 million in the same period last year, driven by the realization of competitive advantages. The company is in the process of implementing a stochastic model (used for actuarial reserve estimates) in life insurance, which based on preliminary assessments could have a positive impact on CSM balance and solvency (increasing solvency by approximately 12%).
Phoenix platform is disrupting Israeli financial services
- Phoenix serves as a Leading financial platform and capital allocator On the one hand with a full range of services and solutions for homes and businesses in Israel, on the other hand allocating capital to businesses and infrastructure in Israel and making diversified international investments together with key global partners.
- The company is expanding its capabilities through acquisitions. During the first quarter, the company completed the acquisition of digital platform BUYME, a leading digital brand in Israel, and wealth manager Fidelis. Phoenix continues to explore additional acquisition opportunities aimed at creating synergy, building capabilities and accelerating competitiveness in strategic areas.
- phoenix is rising fast Digitization processes and AI implementation. Traffic and usage of the group’s app increased, as the app offers a wide range of financial services in investing and savings, insurance and financing, as well as access to a securities trading app, which had over 90,000 active traders as of March 2026. Phoenix continues to accelerate the implementation of data and AI engines across service, sales, trading, underwriting and claims to strengthen competitive advantages, including significant improvements in personalization, accuracy, efficiency and customer experience across the value chain.
Dividend distributions and share buybacks represent 57% of quarterly earnings
- Phoenix focuses on efficient capital management to maximize performance and continue to maintain strong financial flexibility, high liquidity and low net debt.. Phoenix Financial was rated for the first time internationally with an international BBB rating with a stable outlook from S&P, with its subsidiary Phoenix Insurance receiving international ratings from S&P (A-) and Moody’s (A3).
- Solvency ratio of subsidiary Phoenix Insurance is 178% as of December 31, 2025 (including after transitional measures and dividend distribution), above the long-term target of 150-170%.
- Phoenix is paying a NIS 320 million dividend from first-quarter earnings. Additionally, during the quarter Phoenix executed share buybacks in the amount of NIS 85 million. In total, through dividends and buybacks, Phoenix is distributing NIS 405 million, representing 57% of total quarterly earnings, which is in line with its 2026 guidance for payouts of at least 55% of comprehensive income.
EYael Ben Simon, CEO of Phoenix Financial:
“Our first quarter results reflect continued organic growth momentum above expectations, driven by disciplined execution and a focus on profitable, efficient and cash-generative growth. Asset management continued to expand at an accelerated pace, while our insurance operations delivered steady growth, strong cash flows and continued financial flexibility.
We continue to capture both organic and inorganic growth opportunities while further strengthening the organization for long-term value creation. Phoenix has become a leading financial platform for Israeli clients, an institutional-grade capital allocator with diversified, structurally sticky assets and strong capitalization, supported by deep origination and investment capabilities in Israel and partnerships with leading global managers. We are building this platform with the aim of offering complete financial services for the private and commercial sectors. Continued investment in digitization and data/AI capabilities, fostering group synergy and strengthening our customer focus, is supporting differentiation, expanding our customer base, enhancing customer value and accelerating growth.
We are pleased with Phoenix’s addition to the MSCI World Equity Index, following its entry into the MSCI Israel Index last year, as well as the continued expansion of our global shareholder base. Our financial flexibility, which includes Phoenix Insurance’s existing rating as well as the initial BBB International rating assigned to Phoenix Financial by S&P, provides the flexibility to continue investing in capabilities, pursue acquisitions and accelerate market disruption while maintaining responsible capital management and delivering continued value for shareholders.
conference call information
Phoenix Financial will hold a conference call on May 28th 2026 in Hebrew at 1pm local time and in English at 5pm local time / 3pm EDT in the UK, and dial-in details and presentation have been published via the Tel Aviv Stock Exchange website.
About Phoenix Financial
Phoenix Financial (TASE: PHOE) is a leading Israeli financial platform and capital allocator, with over $215 billion of assets under management. Phoenix operates in multi-line insurance and asset management activities, including fund management, wealth solutions, superannuation, advisory, brokerage, employee stock option administration and credit origination. Phoenix is traded within the major equity indices on the Tel Aviv Stock Exchange, including the Tel Aviv 35, MSCI World, MSCI Israel, FTSE Developed and Bloomberg Developed Markets.
The above includes information related to the Company’s financial statement results and strategic planning and guidance. Accordingly, the presentation contains forward-looking information as defined in Section 32A of the Securities Act of 1968. Information regarding strategic planning and guidance includes, among other things, forecasts, targets, assessments and various projections, including information presented by means of illustrations and/or graphs and/or tables, relating to future events or matters, the implementation of which is uncertain and not under the control of the Company or the Phoenix Group companies, including, among other things, regarding revenues and profitability from new developments. Initiatives and implementation of various plans, profit forecast, EBITDA, and other future financial data. The Company’s management has carried out a process of updating its strategic goals based on Company data, market data, collected raw or processed internal information and comparative information and on the basis of certain working assumptions regarding the Company’s activities and relevant markets. Such information is based on the subjective assessments of the Company and its advisors, and depends on, among other things, past experience, professional knowledge accumulated by the Company, existing information and current expectations and assessments, including future developments known to the Company today. The achievement and/or non-achievement of the forward-looking information set forth in the financial reports and this presentation will be affected by risk factors that characterize the activities of the Company and the Group’s companies, as disclosed in the Company’s periodic reports, including changes in economic conditions, the capital markets in Israel and globally, the development of competition in sectors related to the Group’s activities, regulatory changes, changes in consumer preferences and consumption habits, changes in working assumptions or economic models and assumptions, and changes in the implementation or execution of Are included. – Which cannot be predicted in advance and cannot be controlled by the company. Therefore, there is no certainty that the Company’s actual results and achievements in the future will be consistent with these views and may differ materially from the results presented in this material.
Source Phoenix Financial Limited