Lasaco Assurance Plans N25bn Capital Raise to Bolster Insurance Sector Position

Lasaco Assurance Plc is set to triple its share capital by raising N25 billion to enhance its competitiveness in the insurance industry before the sector-wide recapitalization deadline. The company's revenue increased to N23.8 billion in Q3 2025 from N17.1 billion the previous year, although net profit declined.

The capital raise, approved by shareholders at an Extraordinary General Meeting, will involve a combination of private placement and rights issue to boost the company's financial performance. Financial journalist Moyosor Adesina has been following the developments closely.