BY NKECHI NAECHE- ESEZOBOR–Lasaco Assurance Plc has released its financial statement for year ended 31st December, 2023 with 36% growth in insurance revenue to N18.29 billion as against N13.47 billion in 2022.
Profit before tax appreciated to N1.68 billion from N1.58 billion in 2022, showing six percent increase.
Committed to prompt claims payment, the company paid N6.54 billion as claims to policyholders , a decrease of 2% over the previous year.
Total assets grew by 5 percent to N26.97 billion, a solid 5% increase from the previous year while shareholders’ fund rose slightly by 11%, reaching N13.66 billion.
According to the company these financial milestones highlight, its prudent management approach, sustainable growth trajectory, and strong capital base, reinforcing Lasaco’s stability and readiness for future opportunities.
The company l continued its community engagement through educational support, sports sponsorships, and developmental programs, all aimed at making a positive difference in society.
These initiatives reflect its deep-rooted values and its vision of creating a better future for Nigerians.
On its future outlook, the insurer Lasaco is poised to redefine insurance by embracing cutting-edge digital transformation and strengthening our technological infrastructure.
