Israeli Insurance Company Libra Reports Significant Profit Growth
Digital insurance company Libra concluded the second quarter of 2026 with a profit of 28 million shekels and the industry's lowest expense ratio, driven by the success of its daily insurance app, Chik.
Digital insurance company "Libra" continues its growth trend, concluding an exceptionally strong quarter. In the second quarter of 2026, the company recorded a total profit of approximately 28 million shekels, a significant increase compared to the 23 million shekels reported in the same quarter last year. Simultaneously, gross premiums grew by approximately 18%, amounting to about 245.3 million shekels.
The financial reports highlight several key figures that position Libra at the forefront of the local insurance industry:
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Underwriting efficiency: The gross combined loss ratio in the vehicle insurance sector stood at approximately 77%, one of the lowest in the industry.
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Minimal operational expenses: The ratio of expenses to gross premiums was only 12%, the lowest expense ratio in the Israeli insurance market.
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Impressive returns: Return on equity for the first half of 2026 stood at approximately 47% (annualized).
Alongside traditional vehicle insurance, the company's new growth engines are gaining momentum. The daily insurance app "Chik," recently expanded for use by all drivers in Israel, records over 260,000 uses per month. Furthermore, the life and mortgage insurance sector is experiencing sharp growth, partly due to strategic cooperation with the "Maalot" agency of Bank Leumi.
Eti Elishkov, founder and CEO of Libra, stated:
"These results reflect the continued growth in our client base, strict adherence to quality underwriting, and a focus on personalized insurance combined with advanced technology and AI applications. The growth of our diverse product portfolio serves as an anchor for continued expansion and profitability in the coming years."
