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.

Facebook Comments
Advertisement
Brand News Day

Recent Posts

Stanbic IBTC Empowers MSMEs With Business Growth Insights At Nigeria Business Summit Regional Tour In Ibadan

Stanbic IBTC - Micro, Small, and Medium Enterprises (MSMEs) across Oyo State embraced the opportunity…

4 hours ago

GTBank Bagged Best Overall Performing Bank In Nigeria In The Banker’s Top 1000 World Rankings 2026

Guaranty Trust Bank Ltd (GTBank), the flagship banking subsidiary of Guaranty Trust Holding Company Plc…

1 week ago

Stanbic IBTC Hosts Clients At Lagos Polo Club’s Unity Cup In England With Chief Executive, Chuma Nwokocha

As a major sponsor of Lagos Polo Club over the years, Stanbic IBTC was proud…

1 week ago

Kenya Gives Central Bank Emergency Powers To Rescue Struggling Banks In 2026

Kenya has introduced new legal powers allowing its central bank to provide emergency financial support…

1 week ago

Stanbic IBTC Capital Wins Best Investment Bank In Nigeria At 2026 Global Banking And Finance Review Awards

Stanbic IBTC Capital, a subsidiary of Stanbic IBTC Holdings, has been named the Best Investment…

1 week ago

Rethinking How Nigeria Supports SME Growth

By Olajumoke Bello, Head Enterprise Banking, Stanbic IBTC Bank Across Nigeria, small and medium enterprises…

1 week ago

This website uses cookies.