Etti Elishkov Builds Libra Insurance After CEO Appointment Falls Through

In mid-March 2017, Etti Elishkov was set to become CEO of Ayalon Insurance, having secured loans and personal funds to buy a 5% stake. However, a last-minute dispute between the controlling shareholder and the board led to her appointment being canceled. Undeterred, Elishkov, then 49, decided to take an unprecedented step in Israel by founding her own insurance company, Libra. By 2025, Libra reported a 67% profit growth to 85 million shekels.

Elishkov financed the startup capital from dozens of friends and family after major investors backed out. Supported by her husband Haim, her partner since age 18, she built a transparent, accessible management style with no secretaries and direct employee access. Born and raised in Holon, Elishkov overcame early family tragedies, including the loss of her mother to cancer at age 15, which shaped her resilience and priorities.

Her career began in banking and accounting, progressing rapidly to CFO and CEO roles in insurance firms. After the failed Ayalon appointment, she met with the insurance regulator Dorit Selinger, who encouraged her to start a new company to boost competition. Elishkov worked nights to develop a business plan and raised 40 million shekels, risking all her savings and property with her husband's full support.

Despite skepticism and industry resistance, including intimidation of potential investors, she secured funding from 37 private individuals. Libra went public in 2011, faced a stock crash in 2022 due to pandemic-related claims, but recovered by late 2023. Today, Libra is valued at one billion shekels. Elishkov balances her demanding career with family life, emphasizing equal gender opportunity and professional meritocracy.

Featured in the documentary series "Money of Their Own," Elishkov shares her journey alongside other leading Israeli businesswomen. Looking ahead, she aims to double her net worth to two billion shekels by age 55.