• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Tuesday, August 26, 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
10 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

The Evolution Of Betting In Nigeria: A Journey Of Growth

How To Bet Smarter In 2025

2 hours ago
Malabu Oil: Abacha Family Wants Minister To Withdraw Claims On Court Cases

Global Oil & Gas Contracts Up By $7bn In Q2

6 hours ago
ADVERTISEMENT

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.


Join Our WhatsApp Channel

Nigerians can now earn US Dollars monthly by acquiring domains cheaply and reselling for profits up to $18,000 (nearly ₦30Million). Beneficiaries include professionals, entrepreneurs, civil servants and more. Click here to start.


Tags: LASACO Assurance
SendShare10171Tweet6357Share
ADVERTISEMENT
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

The Evolution Of Betting In Nigeria: A Journey Of Growth
Business

How To Bet Smarter In 2025

2025/08/26
Malabu Oil: Abacha Family Wants Minister To Withdraw Claims On Court Cases
Business

Global Oil & Gas Contracts Up By $7bn In Q2

2025/08/26
Fadaella Foods To Capture Nigerian Market With New Products
Business

Fadaella Foods To Capture Nigerian Market With New Products

2025/08/26
Africa Prudential Records 75% PBT Growth, N41.35bn Assets In H1
Business

Africa Prudential Records 75% PBT Growth, N41.35bn Assets In H1

2025/08/26
FG, Imo, NDPHC Seek Speedy Completion Of Egbema Power Plant
Business

Kano Manufacturers Engage NDPHC On Direct Power Supply

2025/08/26
Insurance Firms Begin Self-prescribed Recapitalisation As Minimum Capital Controversy Rages
Business

New Law Offers N2m Medical Compensation For Uninsured Accident Victims

2025/08/26
Leadership Conference advertisement

LATEST

Drama As Benue Assembly Suspends Ex-Speaker Dajoh Over ‘Plot’ To Impeach Gov Alia

Nigerian Air Force Opens Recruitment For Direct Short Service

PICTORIAL: NDLEA Seizes Cannabis Worth Billions Of Naira In Kwara

ASUU Protest Rocks UI, Emmanuel Alayande Varsity

NELFUND Disburses ₦1.47bn Loan To LAUTECH Students

7 Northern States Push To Protect River Basins Amid Climate Threats

NSA Reunites 128 Rescued Kidnap Victims With Families

ASUU Protest Disrupts Academic Activities At Alex Ekwueme Varsity

How To Bet Smarter In 2025

PDP Vows To Resist APC’s ‘One-Party System’ Plot

© 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.