• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Friday, August 1, 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 Revenue Hits N18.3bn In 2023

by Zaka Khaliq
9 months ago
in Business
lasaco
Share on WhatsAppShare on FacebookShare on XTelegram

Insurance revenue of Lasaco Assurance Plc rose significantly to N18.3 billion in 2023 financial year from N13.5 billion it was the previous year. This growth represents a 36 percentage surge within the period under review.

Advertisement

Similarly, its profit rose by six per cent, from N1.6 billion in 2002 to N1.7 billion in 2023, even as its shareholders’ funds were N13.7 billion in 2023 from N12.3 billion in the 2022 financial year.

Speaking at its 2023 annual general meeting (AGM) in GRA, Ikeja, Lagos yesterday, its chairman, Teju Phillips said, its profit after tax witnessed a decline of 13 per cent, descending from N1.52 billion to N1.3 billion in 2023.

Disclosing that it recorded commendable growth in total assets, surging from N25.58 billion to N26.97 billion, emblematic of a robust five per cent growth rate, she said, its performance was amidst economic challenges, hence, underscores its resilience and commitment to delivering value to stakeholders. Moving forward, we remain dedicated to leveraging strategic initiatives and prudent management practices to sustain our growth trajectory and uphold our position as a trusted leader in the insurance sector, she noted.

Looking into the future, -Philips said, the insurer is poised to elevate its performance by embracing innovative digital transformation initiatives , adhering to industry best practices, fortifying its capital base, enhancing its technological infrastructure, intensifying capacity building efforts, fostering collaboration and partnerships, optimising processes and reinforcing risk management and internal controls.

RELATED

NSC Holds Maritime Seminar For Judges

Shippers’ Council Blocks Questionable N52bn Forex Repatriation, Resolves N2bn Trade Disputes

8 hours ago
Mixed Performance On Equities Expected This Week

Stock Market Investors Gain N12.47trn In July

8 hours ago

On his part, the managing director/CEO, Lasaco Assurance Plc, Razzaq Abiodun, while calling for understanding of the shareholders for not able to declare dividend this year, he promised them improved dividend in the next financial year, saying, ‘I will implore out shareholders to fast now and break the fast in the next financial year with a bumper returns on investment.’

Stating that, the company has recently raised N11 billion capital in a self-induced recapitalisation exercise,, he said, the company is well prepared ahead of planned insurance industry recapitalisation exercise, noting that, the company is very liquid to meet both the current and future claims obligations.

The shareholders applauded the company for its foresightedness in its business and future plans, urging the insurer to always ensure that shareholders benefit from the company’s growth through improved investment returns.


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




Tags: LASACO Assurance
SendShareTweetShare
Previous Post

Non-payment For Title Properties: FG Gives 60-days Warning, Sanction

Next Post

Currency Devaluation Cuts Airtel Africa’s Revenue To $2.37bn In H1 2024

Zaka Khaliq

Zaka Khaliq

You May Like

NSC Holds Maritime Seminar For Judges
Business

Shippers’ Council Blocks Questionable N52bn Forex Repatriation, Resolves N2bn Trade Disputes

2025/08/01
Mixed Performance On Equities Expected This Week
Business

Stock Market Investors Gain N12.47trn In July

2025/08/01
Disruptions Loom In Oil, Gas Sector Over Helicopter Landing Fee
Business

NAMA Conducts Simulation Exercise For Air Emergency Response At Abuja Airport

2025/08/01
Nigerians Groan As SIM Registration, Swap Halted Over NIMC System Migration
Business

SIM Registration: Telcos Resume NIN Verification Services For Subscribers

2025/08/01
NASD Elects Olayimikah Bolo As Chairman
Business

NASD Elects Olayimikah Bolo As Chairman

2025/08/01
MTN Allots Incentive Shares, As Trading Opens With N4bn Loss
Business

MTN Nigeria Adopts Customer-Centric Approach For Growth

2025/08/01
Leadership Conference advertisement

LATEST

UNILAG SSANU Elects Substantive New Officers After 9-yr Legal Tussles

Niger Gov Orders Reopening Of IBB Varsity

Response Teams On Red Alert As Floods Threaten Abuja, Nearby States

Oyo Gov’t Approves Additional Loan For Farmers

Oyo Gov’t Warns Against Indiscriminate Waste Disposal, Open Defecation

CJID Report Names Imo, Bauchi, Lagos ‘Most Dangerous States’ For Journalists

INEC Fixes August 18 To Begin Nationwide Continuous Voter Registration

WAFCON: Gov Fintiri Gifts Falcons’ Coach Madugu House, N50m

Newcastle Reject Liverpool £120m Bid For Alexander Isak

NSIB’s New Regulations Target Safety In Rail, Maritime, Air Transportation

© 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.