Business & Economy

Lasaco Meets The Recapitalisation Deadline

Lasaco Assurance Plc, under the new leadership of Chief Mrs Teju Philips, has scaled the first hurdle of the recapitalisation exercise for insurance and reinsurance companies mulled by the National Insurance Commission (NAICOM) for the strengthening of the financial bases of underwriters.

The Company met the 31st December 2020, deadline given to underwriters to recapitalise by the nation’s insurance regulatory body, the National Insurance Commission (NAICOM).

This laudable feat by Lasaco Assurance has further increased the shareholders’ confidence in the management’s decisions with a hope for a better and rewarding future. The Company was able to beat the recapitalisation deadline, following the injection of ₦3.5 billion by its major shareholder.

Lasaco Assurance Plc is a registered composite insurance and financial services company in Nigeria that offers Life and non-life Insurance, Oil and Gas Insurance, Asset Management and Investment Financial services. It was incorporated on 20th December 1979 and was granted License to carry out insurance and other related businesses on 7th July 1980. On 1st August 1980, the Company commenced operations.

The Company currently operates from its headquarters at Ikeja, Lagos State Nigeria with branches and underwriting offices in 15 other locations.

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