News in Brief

Migdal Group, Tel Aviv, saw the profits on its non-life operations soar more than six-fold to IS118m (US$29m) in 1999. Group chief executive Izzy Cohen said the result reflected both the strict underwriting criteria adopted for non-life business and a substantial decrease in motor theft. The group has also achieved efficiencies from the merger of subsidiaries within the group. Life insurance business also grew an impressive 136% to IS475m.