Lasaco Assurance Earns Global Recognition for Strengthening Nigeria’s Insurance Landscape

Lasaco Assurance Plc has once again earned international recognition, as Global Credit Rating reaffirmed its A(NG) with Stable Outlook for the third consecutive year.

The sustained rating, according to the company, represents more than just financial stability, it reflects its broader contribution to Nigeria’s economy through resilience, trust, and strategic innovation.

With a recent capital injection of N10.8bn through private placement, Lasaco’s shareholders’ fund surged by 80.2 per cent to N22.1bn as of June 30, 2025. This bolstered its capital adequacy ratio to 3.6x, while liquidity improved significantly, with cash and liquid assets making up 67.2 per cent of its investment portfolio.

The firm emphasised that the recognition is a validation of its vision to deepen insurance penetration, drive digital transformation, and enhance customer experience, thereby strengthening the backbone of the Nigerian financial system.

“This honour comes at a defining moment for the insurance industry. Maintaining an ‘A(NG)’ rating for three years is a strong vote of confidence in our ability to safeguard policyholders’ trust, support shareholders’ value, and contribute meaningfully to national growth,” the company noted.

Beyond its financial strength, Lasaco Assurance reiterated its commitment to prudent underwriting, operational efficiency, and technology driven service delivery as part of its long-term role in shaping Nigeria’s economic future.