Liverpool Victoria Friendly Society Renews Contract With Sapiens for $7M Over 5 Years for Support Services for Closed Books

CARY, North Carolina, March 3, 2010 - Sapiens International Corporation N.V. (NASDAQ and TASE: SPNS)
a member of Formula Group (NASDAQ: FORTY and TASE: FORT), and a provider of
insurance software solutions, today announced that Liverpool Victoria
Friendly Society (LV=), renewed its contract with Sapiens valued at $7M over
a period of five years, to provide support services for the Sapiens INSIGHT
for Closed Books. The Sapiens solution is used to administer more than 3
million policies defined as "closed books of business" in LV='s Life and
Pension portfolio.

LV= first engaged with Sapiens back in 2002 to implement
Sapiens INSIGHT for Closed Books software solution for insurance carriers,
initially going live with more than 2m policies, dramatically reducing both
IT and Business administration costs, and improving its runoff rates. LV= and
Sapiens have since migrated several other books of Life and Pensions business
onto the INSIGHT platform.

The INSIGHT for Closed Books solution allows clients to better
manage their closed books business, both financially and in terms of customer
service. The solution helps reduce the cost-per-policy and improve customer
experience, by leveraging Sapiens' innovative approach to data migration,
together with Sapiens deep insurance industry know-how. The Sapiens' Closed
Books solution is unique in its approach to solve the challenge of managing
the heritage portfolio of a Life and Pension insurance.

Raj Ghuman, Vice President of Sales and Operations - Sapiens
Europe, commented: "This is a testimony to the strategic relationship we have
developed with LV= over the past years, and the confidence that our customers
have in Sapiens. The contract contributes to Sapiens' long term growth plans,
and helps LV= meet its aggressive goals for efficiency and cost reduction."

About LV=

LV= is a trademark of Liverpool Victoria Friendly Society
Limited (LVFS) and LV= is a trading style of the Liverpool Victoria group of
companies.

LV= employs over 3,800 people, serves more than 3.8m customers
and members, and manages around GBP7.7bn on their behalf. We are also the
UK's largest friendly society (Association of Friendly Societies statistics
2009, total net assets) and a leading mutual financial services provider.

Liverpool Victoria Friendly Society Limited is authorized and
regulated by the Financial Services Authority and entered on the Financial
Services Authority Register No. 110035. LVFS is a member of the ABI, AMI, AFS
and ILAG. Registered address: County Gates, Bournemouth BH1 2NF.

About Sapiens International

Sapiens International Corporation N.V. is a leading global
provider of business solutions for the insurance industry, helping modernize
business processes and enabling insurance organizations to adapt quickly to
change. Sapiens' innovative solutions are widely recognized for their ability
to cost-effectively align IT with the business demands for speed, flexibility
and efficiency. Sapiens operates through its subsidiaries in North America,
the United Kingdom, EMEA and Asia Pacific. For more information, please visit
www.sapiens.com.

Except for historical information contained herein, the
matters set forth in this release are forward-looking statements that are
dependent on certain risks and uncertainties, including such factors, among
others, as market acceptance, market demand, pricing, changing regulatory
environment, changing economic conditions, risks in new product and service
development, the effect of the Company's accounting policies, specific system
configurations and software needs of individual customers and other risk
factors detailed in the Company's SEC filings.

    FOR ADDITIONAL INFORMATION:

    Osnat Segev-Harel
    VP Business Development and Marketing
    Sapiens International
    Tel: +972-8-938-2721
    E-mail: osnat.se@sapiens.com

    Roni Giladi
    Chief Financial Officer
    Sapiens International
    Tel: +972-8-938-2721
    E-mail: IR.Sapiens@sapiens.com

FOR ADDITIONAL INFORMATION: Osnat Segev-Harel, VP Business Development and Marketing, Sapiens International, Tel: +972-8-938-2721, E-mail: osnat.se at sapiens.com; Roni Giladi, Chief Financial Officer, Sapiens International, Tel: +972-8-938-2721, E-mail: IR.Sapiens at sapiens.com