EMI general manager Haim Kipel said he hoped to announce an initial deal by the end of the year.
The Ministry of Finance has given its approval for mortgage insurance company EMI to give guarantees in connection with the operation of a secondary mortgages market. "Globes" heard this from company general manager Haim Kipel. He expressed the hope that by the end of 1999, the company would be able to announce an initial transaction of this kind.
Eighty percent of EMI’s shares are held by US insurance corporation AIG (which also holds 50% of the Direct Insurance company operating in Israel). The balance of the shares are held by a group of private investors, including Kipel. The company has already signed agreements with a number of banks for mortgage insurance.
Published by Israel's Business Arena July 21, 1999