Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Israeli media: Israeli commando forces conduct airdrops in two locations in the Damascus countryside.
Israeli media platform: Israeli army forces carry out a commando operation in the al-Kiswah area of the Damascus countryside.
Syrian media outlets: Israeli helicopters flying at low altitude over Tal Mani in the Damascus countryside.
Israeli media platform: Israeli aircraft bomb Syrian bases simultaneously with tanks entering the southern outskirts of Damascus.
Israeli media: Israeli forces infiltrated the town of Beit Jann south of Damascus, and a new airstrike hit al-Kiswah.
Syrian media: Four Israeli helicopters have touched down in the southern city of Sweida.
UN Security Council member states, excluding the United States, confirm that there is a famine in Gaza.
Syrian media: The Israeli occupation forces launch a series of airstrikes in the western Damascus countryside.
Al Mayadeen correspondent: 51 people martyred in Israeli aggression on Gaza since Wednesday morning.
Saree: Yemen will not abandon its stance in support of Gaza no matter the challenges and repercussions until the blockade imposed on the territory is lifted and the aggression it is facing is halted.

'Israel' fazed over UAE bid to purchase large stake in insurance firm

  • By Al Mayadeen English
  • Source: Israeli media
  • 20 Dec 2022 16:23
2 Min Read

Does "Israel" want a controlling stake owned by the UAE in its largest insurance company?

  • x
  • ADQ is buying Centerbridge’s stake in Phoenix. (Shutterstock)

"Be careful what you wish for," some are saying as reports arise that an Emirati holding company wants to buy a controlling stake in Israeli insurance giant - Phoenix Holdings. The Israeli company controls most of "Israel's" most significant pension funds, and Tahnoun bin Mohammed Al Nahyan, the brother of Emirati leader Mohammed bin Zayed Al Nahyan, directs the Emirati holding company aiming to purchase the stake in Phoenix.

For context, in May, Abu Dhabi and "Tel Aviv" signed a free trade deal, with the current trade volume reaching $2.5 billion. Last year, the UAE announced a $10 billion fund to invest in the tech sector in "Israel" - which, strikingly, has also flourished as fertile grounds for espionage and spyware. 

Read more: Lebanese people wanting to spy for "Israel" are trained in UAE

Related News

Netanyahu aide slips into UAE secretly amid rising security fears

South Sudan rejects Israeli talks on Gaza population transfer

However, when it comes to a controlling stake in a major Israeli insurance company, some settlers wonder whether "Tel Aviv" really wants to sell that kind of stake to a country that established diplomatic relations with it just 3 years ago. By selling a controlling stake, the UAE would become a custodian of "Israel's" largest pension fund, in addition to acquiring access to confidential and sensitive information of hundreds of thousands of settlers. Another pressing question would be: If "Israel" were to refuse such a proposal, will this be a message from "Israel" against the normalization accords, that it is interested in investments but not in all sectors?

Anxiety arises, that what if at any point, Emirati-Israeli relations get tense? It has happened before: Before Erdogan became prime minister, "Israel" had a strategic relationship with Turkey - this then changed drastically. 

This is set to be one of the first issues that Netanyahu's administration will be dealing with after he officially assumes office. 

The deal states Abu Dhabi's sovereign wealth fund - the ADQ Developmental Holding Co. will buy 25%-30% of the controlling stake at Pheonix, purchasing the share from US private investment firms Centerbridge Partners and Gallatin Point Capital.

The deal will have to gain the approval of the Capital Market, Insurance and Savings Authority as well as the "Israel" Competition Authority. 

  • United Arab Emirates
  • UAE
  • Israel
  • ADQ Developmental Holding Co
  • Phoenix Holdings
  • insurance

Most Read

Almost instantly after the Helsinki Accords were signed, organisations sprouted to document purported violations, whose findings were fed to overseas embassies for international amplification. (Al Mayadeen English; Illustrated by Zeinab el-Hajj)

How ‘Human Rights’ became a Western weapon

  • Opinion
  • 23 Aug 2025
Israeli soldiers stand on the top of armoured vehicles parked on an area near the Israeli-Gaza border, as seen from southern Israel, Wednesday, Aug. 20, 2025 (AP)

Palestinian fighters target Israeli soldiers, vehicles in Gaza

  • Politics
  • 21 Aug 2025
Tom Barrack's imperial tantrum in Beirut: When entitlement speaks (Photo by Mahdi Rtail)

Tom Barrack's imperial tantrum in Beirut: When entitlement speaks

  • Politics
  • 26 Aug 2025
Launch of a ballistic missile from Yemen toward the occupied Palestinian territories. (YAF military media)

Yemeni Forces announce firing hypersonic missile at Al-Lydd Airport

  • Politics
  • 22 Aug 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
Pope Leo XIV delivers the Angelus prayer in St. Peter's Square at the Vatican, Sunday, Aug. 24, 2025 (AP)
Politics

Pope Leo demands Gaza ceasefire, prisoner exchange deal

Palestinians pray over the bodies of people who were killed in an Israeli military strike, during their funeral outside Shifa Hospital, in Gaza City, Friday, August 22, 2025 (AP)
Politics

'Israel’s' 'double-tap' strike on Gaza hospital must be probed: UN

Vice President Mike Pence speaks at the the American Israel Public Affairs Committee (AIPAC) 2020 Conference, Monday, March 2, 2020 in Washington. (AP Photo/Alex Brandon)
Politics

Ex-AIPAC-funded lawmakers back bill to halt US weapons to 'Israel'

A boat sails at sea near Nuuk, Greenland, Wednesday, June 18, 2025 (AP)
Politics

Denmark calls in US envoy over covert Trump-linked Greenland influence

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS