Lasaco Assurance Plc has announced the rebranding of its subsidiaries, Lasaco Properties Limited and Lasaco Trading and Investment Limited, as part of efforts to enhance operational efficiency.

In a statement on Sunday, the firm also announced the appointment of a new Managing Director for Lasaco Trading and Investment Limited in the person of Mr Akinwale Sofile, a seasoned finance and investment expert and former Chief Financial Officer of Lasaco Assurance Plc.

“The Board of Lasaco Assurance Plc has strong confidence in Mr Sofile’s capability to lead LTIL, considering his extensive financial expertise and demonstrated leadership skills within the group, which are expected to be harnessed into driving LTIL towards increased profitability and market growth. The board believes that, with his exposure, LTIL will significantly contribute to improving the overall performance of the Group,” read part of the statement.

Meanwhile, Lasaco Properties Limited will continue under the leadership of Mr Olumide Jayeola, a highly experienced executive with qualifications in project management, estate management, law, and theology.

The group said that the rebranding of LPL and LTIL reflected its forward-thinking approach to business transformation. The subsidiaries have undergone a comprehensive refresh, including updated branding, service enhancements, process optimisation, and the restructuring of the board with a proficient team of directors, to better serve clients and stakeholders.

These restructuring and leadership changes are projected to contribute positively to Lasaco Assurance Plc’s financial performance within a short period of time.

On the transformation, Lasaco Assurance Plc reaffirmed its commitment to delivering innovative insurance, financial, and real estate solutions to its clients and stakeholders. The group believes that with Messrs Jayeola and Sofile at the helm of the respective subsidiaries, the company is poised for sustained growth and market leadership.