Lasaco Assurance Plc grew its shareholders’ fund by 101 percent in the first quarter of 2025, signaling renewed investor confidence and balance sheet strength as the insurance firm positions for long-term growth in Nigeria’s low-penetration market.
The company’s equity surged to N24.14 billion from N12.02 billion a year earlier, driven by higher retained earnings and improved operational margins. This comes as the insurer’s total assets rose by 44 percent to N45.68 billion, while total liabilities increased by a modest 9 percent to N21.55 billion, according to its unaudited Q1 results.
Lasaco’s core business showed resilience, with gross insurance revenue rising 59 percent to N10.44 billion, largely on the back of growth in fire, motor, and oil & gas policies.
