Libra Insurance

growth-positive

LIBRA Insurance Partners announces Jonathan Jacobs as the new Senior Vice President of Business Development. Jacobs will lead a team of relationship directors and identify business development opportunities with life insurance brokerage partners throughout the U.S. The appointment is expected to add significant business opportunities to the companys partner firms.

growth-positive

Israeli digital insurance company Libra has completed its IPO on the Tel Aviv Stock Exchange, raising NIS 24 million at a company valuation of NIS 450 million. The offering was oversubscribed, indicating a positive growth impact on the company. In the coming year, Libra plans to expand operations, seek a license to sell life insurance in Israel, set up infrastructures abroad, and develop more innovative technology for its online systems. Libra has become profitable within less than three years and ended the first quarter of 2021 with a net profit of NIS 4.3 million, up 271% from the previous year.

growth-positive

Digital-insurance company Libra is planning to raise between NIS 50-100 million ($15-30 million) through an initial public offering (IPO) on the Tel Aviv Stock Exchange. The company aims to achieve a valuation of NIS 400 million ($123 million). Libra, founded in 2017, became profitable in 2020 and is looking to disperse its shares among investors. Its primary investors include Altshuler Shaham Investment House, Keshet Media Group, and Discount Investment Corporation. The company offers homeowner, car, property, and small business insurance policies, with plans to expand into overseas trip insurance and car insurance for taxi services.

growth-negative

Libra Insurance, an Israel-based online insurer, has filed a NIS 5 million lawsuit against Facebook over the name of its new cryptocurrency, Libra. The company is demanding monetary compensation and that Facebook stops using the Libra brand in Israel to avoid misleading consumers. Libra Insurance claims to own all the rights to the Libra trademark in Israel and believes that Facebooks use of the name would violate its registered trademark. Facebook has declined to comment on the lawsuit.

growth-positive

Libra, Israel’s first all-digital insurance company, has selected InsFocus BI as its business intelligence solution. InsFocus will implement its BI system on core insurance data, as well as on the digital sales and customer behavior worlds. Libras operation is a novelty in the Israeli insurance market as it is a totally digital platform and implements a personalized model. The use of InsFocus BI is expected to be fruitful in a short time. The article does not mention any specific partners, customers, valuation amount, acquisition amount, investment amount, layoffs, or date of the event.