Lasaco Assurance reports strong Q2 2025 results, shareholders’ fund surges by 84%
Lasaco Assurance Plc
Lasaco Assurance Plc, has announced its unaudited financial results for the second quarter ended 30th June 2025, reflecting growth and resilience across its core business and investment portfolios.
For the period under review, the company’s total assets rose by 39% to ₦44.09 billion, compared to ₦31.75 billion as at the end of Q2 2024. The Group also recorded a significant increase in shareholders’ funds, which grew by 84% to ₦22.11 billion from ₦12.02 billion in the corresponding period of 2024 — underscoring a strengthened capital base and improved investor confidence.
Lasaco Assurance generated ₦16.89 billion in insurance revenue in half year 2025, representing a 47% increase from ₦11.47 billion recorded in the same period last year. Insurance service expenses also rose by 67% to ₦13.08 billion, reflecting the company’s continued commitments to claims settlement and customer obligations.
Despite rising cost in the economy and volatile market conditions, the Group posted a net investment result of ₦1.85 billion, an impressive 288% increase from the ₦476.94 million reported in Q2 2024, demonstrating prudent investment strategies and yield optimization.
In line with the company’s long-term strategy, substantial investments have been made in business digitalization, consultancy services, and branch restructuring, which have led to higher operational costs in the short term. These initiatives are critical to positioning the company for future growth and efficiency. During the period, the Group’s performance was influenced by increased expenditures, rising reinsurance costs, and shifts in service-related expenses, reflecting the deliberate cost implications of executing our transformation agenda.
Lasaco Assurance Plc remains dedicated to advancing its integrated growth vision. By investing in high-value projects like Silvercrest Estate, Ikeja, Lagos State and other joint ventures through the subsidiary offices, the company is positioning itself to unlock new revenue streams and strengthen its market presence.
Commenting on the Q2 2025 performance, Managing Director/CEO, Mr. Razzaq Abiodun, remarked: “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.”
As Lasaco Assurance continues to expand its footprint across the insurance landscape, it remains committed to its core values of professionalism, integrity, and customer focus, driving excellence and stakeholder value in all its engagements.
