Lasaco Assurance sharpens execution strategy to drive growth

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In a strategic move to strengthen its market position and drive sustainable growth, Lasaco Assurance Plc is sharpening its execution focus as it navigates an increasingly regulated and competitive insurance landscape. The company is aligning its priorities, resources, and capabilities to deliver consistent performance while adapting to evolving industry dynamics.

This new direction marks a shift in strategic direction. According to the company’s management, this approach balances growth initiatives with financial strength, governance discipline, and operational resilience, ensuring that Lasaco Assurance Plc remains agile and responsive in a rapidly changing market.

Lasaco Assurance Plc plans to expand its market share through partnership, strengthen capital base and then reinforce its operational, governance, technology and compliance focus. These measures are designed to create a resilient and high-performing organization, capable of delivering on its strategic objectives.

Speaking on the company’s evolving direction, Mr. Ademoye Shobo, Acting Managing Director, highlighted the importance of execution consistency and organizational alignment.

“As the business environment continues to evolve, our priority is execution. We are aligning our people, processes, and technology to ensure that our strategic intent translates into improved service delivery, stronger performance, and sustainable growth,” Mr. Shobo stated.

From a financial perspective, Mr. Rilwan Oshinusi, Deputy Managing Director, emphasized the company’s focus on capital discipline, efficient resource allocation, and balance sheet resilience.

“Financial strength is the backbone of our execution strategy. We are optimizing capital deployment, strengthening our balance sheet, and ensuring that growth initiatives are supported by prudent financial management. This positions us to meet regulatory requirements while delivering long-term value for shareholders and policyholders,” Mr. Oshinusi added.

Providing further insight into the company’s strategic framework, Mr. Adedayo Adetokun, Head of Strategy, Research, and Communications, explained that Lasaco Assurance Plc has adopted a structured, layered approach to execution.

“Our strategy is designed to reflect current market realities. We are driving growth and market enrichment, reinforcing core stability and governance, and strengthening the capabilities required to deliver results. This ensures that every initiative aligns with our broader objectives and that execution remains focused, measurable, and sustainable,” Mr. Adetokun said.

Lasaco Assurance Plc’s integrated focus on execution, financial discipline, and strategic enablement positions the company to navigate regulatory changes, respond to customer expectations, and strengthen competitiveness within Nigeria’s insurance sector. By combining operational resilience, customer-centric innovation, and financial prudence, Lasaco Assurance Plc is well-equipped to thrive in a dynamic and challenging market environment.