Libra Insurance Company (LBRA) H2 2024 earnings summary

Executive summary

• Achieved record annual premium of ₪789 million in 2024, reflecting 30% year-over-year growth.

• Net income after tax reached ₪51 million for 2024, a significant increase from previous years.

• Recognized as the fastest-growing insurance company in Israel with a CAGR of 136% from 2018 to 2024.

• Maintains a fully digital, technologically advanced platform with high operational efficiency and customer loyalty.

Financial highlights

• Gross written premiums rose from ₪614 million in 2023 to ₪789 million in 2024.

• Net earned premiums increased from ₪456 million to ₪732 million year-over-year.

• Total assets grew from ₪1.06 billion at end-2023 to ₪1.40 billion at end-2024.

• Return on equity for 2024 was 54%.

• Operating expenses ratio improved to 13%, the lowest in the industry.

Outlook and guidance

• Strategic focus for 2025 includes accelerated growth, innovative product development, and maintaining profitability.

• Plans to leverage AI-driven strategies and expand market share while preserving low loss ratios.