LASACO posts 84% surge in shareholders’ funds as assets hit N44bn in Q2 2025

LASACO Assurance Plc has reported strong financial growth for the second quarter ended June 30, 2025, with significant improvements in its core business and investment performance.

According to the unaudited results, the company’s total assets rose by 39 per cent to N44.09 billion, compared to N31.75 billion in the corresponding period of 2024.

Shareholders’ funds nearly doubled, climbing 84 percent year-on-year to N22.11 billion, reflecting a stronger capital base and growing investor confidence.

Insurance revenue for the half year reached N16.89 billion, a 47 percent increase from N11.47 billion recorded in the same period of 2024.

Insurance service expenses, however, rose by 67 percent to N13.08 billion, underscoring the company’s continued focus on claims settlement and meeting customer obligations.

The Group also delivered a robust net investment result of N1.85 billion, representing a 288 percent jump from N476.94 million in Q2 2024.

Management attributed the performance to prudent investment strategies and yield optimisation despite volatile market conditions.

LASACO highlighted ongoing investments in digitalisation, consultancy services, and branch restructuring as part of its long-term growth strategy.

While these initiatives have increased short-term operating costs, they are expected to enhance efficiency and position the company for sustained expansion.

The firm is also channeling capital into strategic real estate and joint ventures, including the Silvercrest Estate project in Ikeja, Lagos State, aimed at unlocking new revenue streams and strengthening market presence.

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Commenting on the results, Managing Director/CEO, Mr. Razzaq Abiodun, said: “Despite temporary market challenges, our balance sheet remains strong and resilient. The substantial growth in our assets and shareholders’ funds underscores our long-term value creation efforts. We continue to focus on innovation, customer satisfaction, digital transformation, and operational excellence as we navigate the second half of 2025.”

LASACO Assurance reiterated its commitment to professionalism, integrity, and customer focus as it deepens its footprint in Nigeria’s insurance industry.