An agreement to establish the “Israel-Phoenix Insurance Company” with the participation of the British insurance company, Phoenix, and the Israel Trust and Investment Corporation, was reached here today. The new firm will have an initial capitalization of $300,000, with each participant in the venture investing half.
It is noted here that for the time since the proclamation of Israel statehood, the Bank of England — in allowing the Phoenix company to participate in the new enterprise — has permitted the transfer of British funds to Israel for investment purposes.
The Archive of the Jewish Telegraphic Agency includes articles published from 1923 to 2008. Archive stories reflect the journalistic standards and practices of the time they were published.
