Lasaco Insurance Plc recently received regulatory approval for six new insurance products to expand financial protection offered to individuals and businesses across Nigeria. Information comes from a press release made public last Sunday, February 08.

The company Lasaco Assurance Plc received engagement letters formal statements by its shareholders following its recent general meeting extraordinary, thus strengthening confidence in the company's plan to to raise additional capital in accordance with regulatory requirements and to the ongoing reforms in the insurance sector. According to the director interim general of Lasaco Assurance Plc, Ademoye Shobo, the confirmation of shareholders provides clarity and certainty as the company prepares to implement its approved capital raising strategy.

Shareholder approval now being formally documented, Lasaco Assurance Plc intends to actively explore available financing options to carry out the approved capital increase. The company plans to use various market instruments, in particular a capital increase by issuing rights and other authorized financing structures, in order to to guarantee the rapid and effective mobilization of capital.

The deadline for the Recapitalization of the insurance sector is June 2026