The Phoenix effects a shakeup in the agency sector: it will merge Agam Lider Holdings

The Phoenix effects a shakeup in the agency sector: it will merge Agam Lider Holdings and make Itzik Oz a partner.*

A significant change in the agencies activities of The Phoenix, the largest insurance group in Israel. The group reached an agreement with the founder and joint CEO of the large insurance agency Agam Leaders, Itzik Oz, who will exchange his shares in the insurance agency (about 30%) for shares of The Phoenix Agencies and become a partner of the Phoenix Group in the agencies division, wherein he will serve as active chairman.

The Phoenix will merge Agam Leaders Holdings, the parent company of the agency Agam Leaders Israel, wherein the insurance and finance activities are carried out, into The Phoenix Agencies, while Agam Leaders Israel will continue to operate as an independent agency under the Phoenix Agencies.

The move is being carried out as part of the implementation of the Phoenix Group’s strategy in the agency field, which is intended to accelerate the group’s activity in the field, and marks a trend that may include further developments in the field in the near future.

The Phoenix Group was represented in this merger by Adv. Amir Levitski (tag), Adv. Elad Mirvis and Adv. Ayelet Broditsky.

For the complete coverage on the “Globes” website https://bit.ly/3GEHusG

For the report regarding the merger filed with the Israeli stock exchange see https://bit.ly/3XcgPZL