LASACO Assurance: 2021 results

LASACO Assurance ended the 2021 financial year with a turnover of 13.3 billion NGN (32.27 million USD), which represents a 21% increase over one year. The underwriting result has progressed by 15% to reach 9.3 billion NGN (22.56 million USD) by 31 December 2021. On that date, the investment income amounted to 656.2 million NGN (1,6 million USD), improving by 19% compared to 2020.

However, the Nigerian insurer has recorded a 62% drop in its annual net profit from 679.4 million NGN (1,8 million USD) at the end of 2020 to 261.4 million NGN (634 240 USD).

During the period under review, the company's shareholders' equity and assets stood at 11.3 billion NGN (27.42 million USD) and 23.95 billion NGN (58.11 million USD) respectively.