Mr. Razzaq Abiodun, Managing Director, LASACO Assurance PLC
BY NKECHI NAECHE-ESEZOBOR—LASACO Assurance Plc, a major player in the Nigerian insurance sector has released its financial statement for the period ended 30th September, 2021 with 18% increase in gross premium to N11.96 billion from N10.10 billion in 2020.
Underwriting profit grew by 24% from N1.3billion in 2020 to N1.6billion in the end of Q3 2021.
On claims payment the insurer said a total of N7.3 billion was paid as claims to policyholders at the end of Q3 2021 from N3.4billion reported in same period of 2020.
The insurer added that claims payment related to #Endsars protest stood at N3.3billion as at November 2021.
The company assured that all genuine claims from policyholders would be paid, stressing that the company is still in the business of paying all genuine claim.
