Thanks to strong insurance revenue growth and improved underwriting performance, Lasaco Assurance Plc recorded a 24% increase in pre-tax profit to 1.3 billion naira for the first quarter ended on 31 March 2025.

Lasaco Assurance's unaudited financial statements recently showed that pre-tax profit reached 1.62 billion naira during the period under review, compared to 1.31 billion naira in the corresponding quarter of 2024. Lasaco's insurance revenue grew by 59 percent to 10.44 billion naira, up from 6.57 billion naira in the same period last year. According to reports, this significant increase was attributed to increased premium income and better market penetration. Spending on insurance services increased by 72 percent to 7.39 billion naira from 4.29 billion naira the previous year, despite

Lasaco Assurance's total assets increased by 44 percent to 45.68 billion naira, while equity doubled to 24.14 billion naira, indicating a stronger capital base and improved financial position.