Lasaco Assurance Plc has reported that it settled insurance claims worth N17.60 billion during its 2025 financial year, showing strong commitment to policyholders and reliability in claim payments.

The company explained that the payout reflects compensation made to customers who suffered insured losses across different segments such as vehicles, homes, businesses, and other personal and corporate risks.

According to the report, the claims settlement demonstrates Lasaco Assurance’s ability to honour obligations promptly even within Nigeria’s challenging economic environment, where inflationary pressure and operational costs continue to affect businesses.

The insurer stressed that prompt claims payment remains a key part of its value proposition and a major factor that builds trust among customers in the insurance sector.

Beyond claims settlement, the company also highlighted its strengthened financial position following a successful rights issue that was oversubscribed by 104.5 percent.This strong investor response reflects confidence in the firm’s leadership, governance structure, and long-term growth strategy.

The capital raise also helped Lasaco Assurance move closer to meeting the recapitalisation requirements set by the National Insurance Commission (NAICOM).With an additional N18.47 billion injected into the business, the insurer says it is well positioned to exceed regulatory capital thresholds ahead of schedule.

Management further noted that the improved capital base will enhance underwriting capacity, allowing the company to take on larger risks while still maintaining its ability to pay claims effectively.It will also strengthen financial resilience and ensure long-term stability for policyholders.

Overall, Lasaco Assurance positioned itself as a dependable insurer focused on customer protection, financial strength, and sustainable growth within Nigeria’s evolving insurance industry.