Lasaco Assurance Plc has shown strong performance in its third-quarter financial results for 2024, reporting insurance revenue of N17.07 billion. This marks a 29% increase from the same period in 2023. The company’s net insurance and investment results grew by 50%, from N3.1 billion in 2023 to N4.6 billion in 2024, reflecting improved operational efficiency and profitability.
Despite facing challenges, Lasaco incurred claims of N6 billion, a 19% increase from the previous year. However, its total assets grew by 23%, reaching N33.09 billion, and shareholders’ funds increased by 11%, totaling N15.01 billion. These figures underscore the company’s resilience and growth in a dynamic economic environment.
Looking forward, Lasaco plans to continue expanding its core insurance services and optimizing investment income. CEO Razzaq Abiodun emphasized the company’s strategic focus on digital transformation and enhancing its technological infrastructure to maintain long-term growth and shareholder value. The company also continues its community engagement efforts, contributing to social development through various initiatives.
