THE PHOENIX HOLDINGS LTD. 2022 Q1
Phoenix Holdings
Financial Review
Disclaimer
This presentation does not constitute an offer to purchase the Company's securities or solicitation to receive such offers and is designed solely to offer information as part of the Company's explanations regarding its Q1 2022 financial reports.
This presentation includes information regarding the Company's strategic plan for the years 2022-25 as well as forward-looking information as defined in section 32A of the Securities Law 5728-1968.
The realization and/or non-realization of forward-looking information which is stated in the financial reports and this presentation will be affected by risk factors that characterize the activities of the Company and group companies, as detailed in the Company's periodic reports, including changes in economic conditions, capital market in Israel and globally, the development of competition in the segments relevant to the group's activities, regulatory changes, changes in consumer preferences and consumption habits, changes in working assumptions or in the economic models and assumptions, and changes in implementation or execution - that can not be estimated in advance and may not be controlled by the Company. Hence, there is no certainty that the actual results and achievements of the Company in the future will be in accordance with these views and may differ, also substantially, from those presented in this presentation.
Furthermore, the presentation includes data and assessments based on external sources, the contents of which were not independently tested by the Company and therefore the Company is not responsible for their accuracy.
This presentation was drafted for the sake of convenience and needs to be reviewed along side with the Company's public reports, including Q1 2022 Financial Statements, which contain the complete information about the Company, before making any decision to invest in the Company's securities.
This presentation may include information that is presented differently from the way it was presented in the company's official reports, some information may be presented and/or categorized and/or edited and/or segmented differently from the company's official past reports.
For the avoidance of doubt, the Company does not undertake to update or change the information contained in this presentation.
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Agenda Highlights
Financial Results
Segment Breakdown
Appendix
Glossary
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Phoenix Holdings at a Glance
Leading Israeli financials group
Proven and recognized experience
Distinctive performance
Strong capital position
Broad investment capabilities
TA35 index
Since 2018
70+
Years of activity
18%
AUM CAGR2
190%
Solvency II Ratio3
370 NISb
AUM
9.2 NISb
Market cap1
AA- / AA+
Holding / Insurance Rating
15.6%
ROE Average2
9.5 NISb
Shareholders' Equity
Top Ranked
in leaderboard for
investments4
- As of May 26, 2022
- Five-yearperiod (2017-21 end of year for AUM growth, 4/2017-3/22 full year for ROE)
- As of December 31, 2021, with transitional measures; includes events post report date of dividend distribution from Phoenix Insurance to Phoenix Holdings, raising Tier 2 capital, and Phoeniclass transfer to Phoenix Insurance
- Based on average yields over 3 years ended 31.03.2022 in the general plans: #1 out of 5 in Policies (1991-2003), #1 out of 5 in Pension, & #3 out of 10 in Provident Funds
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Israeli Economy: Impact of Global Volatility in Q1 2022
Increased uncertainty in Q1…
Macro trends: An increase in inflation, after the quarter the Bank of Israel increased its rate from 10bps to 35bps in April and 75bps in May
Capital Markets: Increasing volatility and declines in Israeli capital markets
…but strong long-term trends
Wealth accumulation: Continued AUM contributions despite the decline in capital markets
Innovation: Vibrant tech ecosystem, #1 startups per capital, #1 R&D investment as percent of GDP1, however sector impacted by global changes
GDP Growth 2
Percent
8.1%
4.5% | 4.4% | 4.0% | 3.8% |
-2.2% | |||||
2016 | 2017 | 2018 | 2019 | 2020 | 2021 |
Inflation 5
Percent2.8%
1.5%
0.4% 0.8% 0.6%
-0.2%
-0.7%
2016 2017 2018 2019 2020 2021 1-3/22
GDP per Capita 3 | Long-Term Savings AUM 4 | ||||||||||||||||||||||||||
USD '000 | NIS Trillion | ||||||||||||||||||||||||||
Israel | 51.4 | 11% CAGR | 2.0 | 2.4 | |||||||||||||||||||||||
Germany | 50.8 | 1.6 | 1.6 | 1.9 | |||||||||||||||||||||||
1.4 | |||||||||||||||||||||||||||
UK | 47.2 | ||||||||||||||||||||||||||
Italy | 35.5 | ||||||||||||||||||||||||||
Spain | 30.1 | ||||||||||||||||||||||||||
2016 | 2017 | 2018 | 2019 | 2020 | 2021 | ||||||||||||||||||||||
Long-Term Yields (10Y) 5 | Unemployment 5 | ||||||||||||||||||||||||||
Percent | Percent | ||||||||||||||||||||||||||
2.4% | 2.4% | 2.2% | 4.2% | 3.9% | 4.2% | 4.8% | 4.1% | ||||||||||||||||||||
1.8% | 3.6% | 3.8% | |||||||||||||||||||||||||
1.0% | 1.3% | ||||||||||||||||||||||||||
0.9% | |||||||||||||||||||||||||||
2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 22Q1 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 22Q1 | |||||||||||||||
- Israel Securities Authority
- Israel Central Bureau of Statistics
- World Bank, current USD, 2021
- Bank of Israel (2021 figure is an estimate), including life insurance, pension, and provident funds
- Bloomberg (inflation for 2022 is actual 3 months not annualized; long-term yields based on Israel 10-year government bond, not CPI-linked for the past 12 months)
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The Phoenix Holdings Ltd. published this content on 31 May 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 May 2022 05:39:02 UTC.
