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

Bamboo Leads Retail Trades As Nigeria’s No. 1 Broker First Securities

Bamboo has emerged as Nigeria's leading First Securities broker for the seventh consecutive month, displaying…

4 weeks ago

Lesotho Music Awards, AFRIMA Announce Strategic Partnership To Advance Lesotho’s Music Industry

The All Africa Music Awards (AFRIMA) and the Lesotho Music Awards (LMA) have signed a…

1 month ago

Stanbic IBTC Marks 30 Years Of Custody Services With NGX Closing Gong Ceremony

Stanbic IBTC recently celebrated 30 years of providing custody services in Nigeria with a Closing…

1 month ago

Stanbic IBTC Bank Nigeria PMI®: Marked Growth Of New Orders Seen Again In July

Stanbic IBTC Bank Nigeria PMI Index: Growth was maintained in the Nigerian private sector during…

1 month ago

Stanbic IBTC, Anambra State Government Partner To Accelerate Growth And Trade Opportunities For South-East MSMEs

As MSMEs across the South-East seek opportunities for growth, market expansion and cross-border trade, Stanbic…

1 month ago

How Fidelity Bank, Airtel Nigeria And Leadway Assurance Won Nigeria’s Q2 2026 CSR & ESG Media Conversation

Lagos, Nigeria — July 2026 — P+ Measurement Services, Nigeria's leading independent media intelligence consultancy,…

1 month ago

This website uses cookies.