• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Friday, July 4, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

LASACO Assurance Gross Premium Surges By N3bn

by Zaka Khaliq
2 years ago
in Business
LASACO Assurance
Share on WhatsAppShare on FacebookShare on XTelegram

Lasaco Assurance Plc Gross Premium Income surged from N10.96 billion in 2020 to N13.91 billion in 2022, representing about N3billion profit growth within the three years under review. 

Advertisement

This, the company said. in a statement made available to LEADERSHIP yesterday, that the profit has demonstrated a commendable trend of steady growth over the past three years, adding that, this signified an increased ability to attract a larger customer base and generate more revenue. 

According to the managing director/CEO, Lasaco Assurance Plc, Razzaq Abiodun, this development places significant emphasis on claims payment, a crucial aspect of its business operations. 

In this regard, he said, the company has consistently maintained a high rate of net claims paid, a testament to its commitment to its clients.

In 2020, he noted that, the company paid out a total of N4.29 billion in claims, which increased to N8.99 billion in 2021 before experiencing a slight decline to N6.97 billion in 2022.

RELATED

Federal Gov’t Gives IBEDC 7 Days To Reinstate Sacked 3,000 Workers

AMCON Begins Asset Resales, Sells IBEDC For N100bn

10 hours ago
JUST-IN: NCAA Suspends All 737 Aircraft In Max Air Fleet

NCAA Names Max Air ‘Most Unresponsive Domestic Airline’ To Passenger Complaints

15 hours ago

Furthermore, he noted that, Lasaco Assurance has continued to maintain a positive underwriting profit, achieving N2.30 billion in 2020, declining to N1.71 billion in 2021, before rebounding to N3.1 billion in 2022, adding that, this trajectory attests to the company’s ability to navigate a challenging business environment while achieving notable growth in its bottom line.

“In recent times, in addition to the substantial payments made in the aftermath of the #Endsars tragedy, the company has demonstrated its commitment to upholding its corporate policy by fostering trust and maintaining relationships with its clients,” he said. 

Similarly, Abiodun elaborated that the company has compensated approximately 1,356 deceased staff members of Lagos state government parastatals under its life insurance, totaling N3 billion, between 2017 to date, although the policy had been in existence since 1999 under the administration of Asiwaju Bola Ahmed Tinubu (President-Elect) and substantial amount had been paid since then.

Additionally, the company was certified ISO/ISMS 27001 by the International Organization for Standardization, an information security management standard that provides guidelines for managing information security risks, including policies, procedures, staff training and technology.

Leveraging its impressive achievements, Lasaco Assurance Plc said, it is poised to deepen its retail business, restructure its branch network, create more digital touchpoints, and develop a new customer experience model to enhance service delivery.


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel

BREAKING NEWS: Nigerians can now earn US Dollars from the comfort of their homes with Ultra-Premium domains, acquire them for as low as $1700 and profit as much as $25,000. Click here to learn how you can earn US Dollars consistently.


Tags: LASACO Assurance
SendShareTweetShare
Previous Post

Wema Bank Reassures Improved Performance

Next Post

Bearish Trading Continues As Investors Lose N49bn

Zaka Khaliq

Zaka Khaliq

You May Like

Federal Gov’t Gives IBEDC 7 Days To Reinstate Sacked 3,000 Workers
Business

AMCON Begins Asset Resales, Sells IBEDC For N100bn

2025/07/03
JUST-IN: NCAA Suspends All 737 Aircraft In Max Air Fleet
Business

NCAA Names Max Air ‘Most Unresponsive Domestic Airline’ To Passenger Complaints

2025/07/03
Savannah Energy Empowers 100 Students
Business

Savannah Energy Empowers 100 Students

2025/07/03
BIC Reaffirms Commitment To Youth Empowerment Through Creative Initiatives
Business

BIC Reaffirms Commitment To Youth Empowerment Through Creative Initiatives

2025/07/03
Ecobank Nigeria To Reward  500 Customers
Business

Ecobank Group, Google Cloud Partner To Accelerate Financial Inclusion, Innovation Across Africa

2025/07/03
Don’t Rush Into Businesses You Know Nothing About, Stakeholders Warn Retirees
Business

Businesses Sustain Positive Growth Momentum Despite High Prices

2025/07/03
Leadership Conference advertisement

LATEST

INEC Releases Election Results Review Supplementary Guidelines

Tinubu Mourns Ex-Super Eagles Goalkeeper Peter Rufai

Abducted Bayelsa High Court Judge Regains Freedom

NFF, Super Eagles Mourn Legendary Goalkeeper Peter Rufai

Tinubu Mourns Ex-Super Eagles Goalkeeper Peter Rufai

‘My Party, Our Party Now Is ADC’, Ihedioha Tells Supporters, Followers

JUST-IN: Abducted Bayelsa Judge Regains Freedom

Dantata Lived A Life Of Impact — Tinubu

BUK Appoints Professor Haruna Musa As New VC

‘I Love Nigeria’, 11 Other Associations Seek INEC Registration As Political Parties

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.