New Draft Circular by the Supervisor of the Capital Market, Insurance and Savings (the Supervisor)

On 20th January 2019 the Supervisor published a draft circular regarding transfer of funds by Israeli Insurers to Non-Israeli Reinsurers (hereinafter: New Draft Circular). History: Until 2012, the Control over Financial Services Regulations (ways of investing capital and undertakings of Insurers and management of its liabilities) (hereinafter: the Regulation) stipulated in Clause 25 how much