Libra Insurance Company (LBRA) Q1 2024 earnings summary
Event summary combining transcript, slides, and related documents.
Q1 2024 earnings summary
9 Nov, 2026Executive summary
Q1 2024 gross premiums reached ₪222m, versus ₪168m in Q1 2023; after-tax profit was ₪11.1m, versus a ₪1.9m loss.
Digital insurance operation with more than 350,000 policies, a 100% retail portfolio and no group or fleet business; workforce of 180 and 2,000 policies per employee.
Financial highlights
March 2024 total assets were ₪1,057m, compared with ₪913m in March 2023; equity was ₪69m versus ₪58m.
Q1 2024 pre-tax comprehensive profit was ₪17m, compared with a ₪2.7m loss in Q1 2023.
Outlook and guidance
Strategic focus includes growing non-auto lines, with non-auto products up ~75% YoY in Q1 2024.
Risk and mortgage life products generated ~₪5.3m of written premium in Q1 2024; the portfolio is being shifted to external management to enhance investment returns.
Latest events from Libra Insurance Company
- Premiums surged, but auto theft pressures kept H1 in pretax loss.LBRA
Q2 2023 - Premiums grew, but motor theft pressure drove a Q1 pre-tax loss.LBRAQ1 2023
- 9M23 premiums rose 43%, while motor loss ratios improved and pretax profit reached NIS 6m.LBRAQ3 2023
- Premiums grew 40% as profitability returned on lower motor loss and expense ratios.LBRAQ4 2023
- 2024 premiums rose 30% to ₪789m as net profit reached ₪51m.LBRAQ4 2024
- Premium growth and improved motor underwriting lifted 9M earnings; solvency stood at 132%.LBRAQ3 2024
- H1 insurance-service revenue reached ₪416.3m and net income was ₪51.0m.LBRAQ2 2025
- Net income rose 32% as premiums grew 13% to NIS 248.380m.LBRAQ1 2025
- Premium growth and improved underwriting drove H1 profit of ₪24.5m.LBRAQ2 2024