June 29, 2009 (FinancialWire) — Sapiens International Corp. N.V (NASDAQ: SPNS) said it has won a $1.1 million contract from Financial Services Group’s reinsurance arm to implement the company’s reinsurance administration software, Sapiens Insight for Reinsurance.

The software will be used to manage the entire reinsurance business portfolio across the group, providing services and access to users of the reinsurance entity and global business units.

Sapiens Insight for Reinsurance is part of the company’s Insight suite of insurance solutions. The software is designed to manage in one single platform ceded and assumed reinsurance, proportional and non-proportional treaties and facultative contracts.

Netherlands Antilles-based Sapiens International is a provider of business IT software solutions for insurance organisations, as well as for enterprise organisations in other industries.

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