Lasaco beats NAICOM recapitalisation deadline -Vanguard

Lasaco beats NAICOM recapitalisation deadline -Vanguard

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By Nkiruka Nnorom

Lasaco beats NAICOM recapitalisation deadline. Lasaco Assurance Plc, under the new leadership of Chief Teju Philips, has scaled the first hurdle of the recapitalisation exercise for insurance and reinsurance companies announced by the National Insurance Commission, NAICOM, to strengthen the financial bases of underwriters.

The company was able to beat the December 31, 2020, deadline given to underwriters to recapitalise by the nation’s insurance regulatory body, NAICOM following the injection of N3.5 billion by its major shareholder.

Lasaco beats NAICOM recapitalisation deadline

The laudable feat by Lasaco Assurance has further increased the shareholders’ confidence in the management’s decisions with hope for a better and rewarding future.

Lasaco beats NAICOM recapitalisation deadline

Read more at: https://www.vanguardngr.com/2021/01/lasaco-beats-naicoms-recapitalisation-deadline/

READ: NAICOM NIA disagree over recapitalization of insurance firms

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