Lasaco Assurance Turns Tide on Half-Year Loss, Helped by Cost Efficiency

Lasaco Assurance Rebounds to Profitability

Composite insurer Lasaco Assurance has reversed a significant half-year loss, reporting a profit of N384.9 million for the period ending June. This turnaround, despite a dip in insurance revenue, was largely driven by stringent cost-cutting measures. The company reduced insurance service expenses by 17% and reinsurance costs by 11.4%, boosting insurance service results.

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