Lasaco Assurance Plc, which provides life and genral insurance services has strengthened its financial bases by meeting its recapitalization deadline set by the the National Insurance Commission (NAICOM) for insurance and reinsurance companies.
The feat was achieved under the new leadership of Chief Teju Philips, which scaled the first hurdle of the recapitalization exercise which also led to strengthening the financial bases of underwriters after meeting the 31st December 2020, deadline given to underwriters to recapitalize by the nation’s insurance regulatory body, NAICOM.
The feat, it was gathered, has also increased the shareholders’ confidence in the management’s decisions with a hope for a better and rewarding future.
The success story, The Guild learnt, was not unconnected to the N3.5 billion injected into the company 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.