LASACO Assurance to increase its capital

LASACO Assurance has increased its capital by 10 billion NGN (27.6 million) to reach 18 billion NGN (49.4 million USD). This increase will result in the issuance of new shares.

The 39^th Annual General Meeting of LASACO Assurance, held in Lagos on 8 October 2019, took such a decision in order to comply with the legislation. The National Insurance Commission (NAICOM) has required Nigerian composite insurers to have a minimum capital of 18 billion NGN (49.4 million USD).

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