Lasaco Assurance Plc has announced that its recapitalisation has received approval from the National Insurance Commission (NAICOM), placing the company among the 43 insurance firms cleared in the commission’s latest regulatory review.
The company described the approval as an important step in strengthening its financial position, maintaining regulatory compliance and supporting long-term growth in Nigeria’s insurance industry.
NAICOM’s recapitalisation programme was introduced to ensure that insurance companies meet higher capital requirements aimed at improving industry stability, protecting policyholders and boosting investor confidence.
Lasaco Assurance said its successful compliance demonstrates its commitment to these objectives and positions the company to pursue wider market opportunities while deepening stakeholder confidence.
Commenting on the development, Managing Director Ademoye Shobo said the approval reflects the commitment and resilience of the company’s workforce.
According to him, the achievement highlights Lasaco’s focus on excellence, innovation and delivering value to customers, adding that the company remains committed to expanding its operations, improving service quality and contributing to the growth of Nigeria’s insurance sector.
Lasaco Assurance also thanked its employees, business partners and customers for their support throughout the recapitalisation process.
The company said it intends to build on the approval to strengthen its market position and continue providing reliable insurance services to Nigerians.
