Lasaco Assurance Raises N11.1 Billion to Meet Insurance Recapitalization Target

Lasaco Assurance PLC has raised N11.1 billion in fresh capital to meet the July 2026 recapitalization target in the insurance industry. The company disclosed this during its 45th Annual General Meeting in Lagos.

The funds will help compensate policyholders who suffer losses from insurance risks. Lasaco Assurance also reported a significant increase in insurance revenue, attributing it to market penetration and enhanced customer engagement.

The company aims to strengthen its operations, drive digital transformation, and invest in software to improve efficiency and customer engagement.