Leumi bank reinsured NIS 25 Billion of its Housing Bond Portfolio with Global Reinsurers – Led by CRS

Bank Leumi has just announced that it will Re-insure its housing bond portfolio with global (Re)insurers.

This deal has been leaked by “Calcalist” last September during the negotiation process. It was then revealed that the bank was in the midst of negotiating a transaction for insuring a policy in the amount of 25 Billion NIS with Swiss Re, Munich Re who have signed a similar deal with Discount bank in August of last year.