Sapiens Announces INSIGHT for Reinsurance Solution V5, With Increased Financial and Accounting Capabilities

Significant Business and Technology Enhancements Added to Sapiens' Comprehensive Reinsurance Software Solution

CARY, North Carolina, April 11, 2011 - Sapiens (www.sapiens.com/) International Corporation
N.V. (NASDAQ and TASE: SPNS), a global provider of innovative insurance
software solutions and a member of the Formula Group (NASDAQ: FORTY and TASE:
FORT), announced today that a new version of INSIGHT for Reinsurance
(www.sapiens.com/Reinsurance-Software.htm), the company's reinsurance
software solution for reinsurance, is now available.

(Logo: www.newscom.com/cgi-bin/prnh/20100811/HS49090LOGO )

Sapiens INSIGHT for Reinsurance v5 allows greater audit and
control capabilities, and helps insurers to adhere to the latest SOX and
Solvency II directives. The new release includes added functionality,
significant business enhancements and a broader platform support, that
provide insurers with greater control of their financial management and
accounting and more technology flexibility.

Highlights of the new release include:

- Improved authorization and control

- Additional out-of-the-box reports and inquiries

- An extension and enrichment of the data warehouse, enabling
insurers to self-produce additional reports

- Convenient management of reinsurer and broker accounts, with
respect to reconciliation activities and granularity of amounts

- Multi-platform and database agnostic

Martin Greenberg, Reinsurance Product Manager, added: "our
continued investment to provide a comprehensive reinsurance business solution
demonstrates Sapiens' commitment to becoming the insurance industry's
preferred software solution provider." Greenberg continued, "Sapiens' deep
understanding of insurers' reinsurance needs is a key driver of our product
development roadmap. Our customers, including some of the leading carriers,
already enjoy the enhancements of the new release."

About Sapiens International

Sapiens International Corporation N.V. is a 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 More Information

    Osnat Segev-Harel, CMO
    Sapiens International
    Tel: +972-8-938-2721
    osnat.se@sapiens.com

For More Information: Osnat Segev-Harel, CMO, Sapiens International, Tel: +972-8-938-2721, osnat.se at sapiens.com .