Global Credit Rating has reaffirmed the rating of Lasaco Assurance Plc at A(NG) with a Stable Outlook, marking the third consecutive year.

According to a statement from the firm on Thursday, the sustained rating underscored its commitment to financial strength, stability, and sustainable growth.

Lasaco Assurance recently had an N10.8bn capital injection through private placement. As of June 30, 2025, the company’s shareholders’ fund rose significantly by 80.2 per cent to N22.1bn, boosting the firm’s capital adequacy ratio to 3.6x. Its liquidity also improved remarkably, with cash and liquid assets making up 67.2 per cent of the investment portfolio.

On the rating, the company in the statement made available to The PUNCH emphasised that maintaining this rating is not just a “reflection of its financial standing but also of its strategic vision to deepen retail penetration, embrace digital transformation, and continually enhance customer experience.

“This recognition comes at a time when the Nigerian insurance industry is becoming increasingly competitive, and Lasaco Assurance’s consistency in maintaining an ‘A(NG)’ rating is a strong message of confidence to policyholders, shareholders, and stakeholders at large. While the rating acknowledges the company’s strengths, Lasaco Assurance is not resting on its achievements. The insurer reaffirmed its commitment to adopting more prudent underwriting practices, enhancing operational efficiency, and leveraging technology to ensure it not only sustains this position but also moves higher in the years ahead.”

The firm added that the three-year streak of strong ratings was a milestone worth celebrating, as it reflected the company’s unwavering focus on resilience, growth, and customer trust.

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