Review pending. Every figure has been located on its cited source page in an AI-assisted source verification (matched to OCR text and compared cell by cell with the page image; read from the page image) (9 October 2026). Independent review has not yet been carried out, and these pages are not indexed.AI-assisted source check done; independent review pending; not indexed. About the review
Lasaco Assurance
On this page
Company details
- Legal name
- Lasaco Assurance Plc
- Listing
- LASACO on the Nigerian Exchange, active · ISIN NGLASACO0002 (observed 2026-10-08)
- Sector
- Not classified (our classification from the stated principal activity)
- Financial year ends
- 31 December
Overview
Year ended 31 December 2025 · annual report, signed / final · source
Read with these figures
- Auditor's emphasis of matter. Contravention of laws and regulations (auditor's report, p43): 'As stated in note 47(b) ..., the Company and its Subsidiaries paid the sum of N206,835,683 ...
Full wording and sources
Auditor's emphasis of matter
Contravention of laws and regulations (auditor's report, p43): 'As stated in note 47(b) ..., the Company and its Subsidiaries paid the sum of N206,835,683 ... to National Insurance Commission for the violation of the Market conduct and Business Practice Guidelines for Insurance Institutions in Nigeria and failure to seek NAICOM approval before appointing Head of Internal audit and sent misleading information to the Commission.' No emphasis of matter or going-concern paragraph.
Source: Lasaco Assurance Plc 2025 Annual Reports & Accounts (dated 2026-07-31)
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Insurance revenue (IFRS 17)
NGN 30.9 billion
30,861,346 NGN thousands · p84
+35.2% vs 2024
IFRS 17 insurance revenue, as printed: not gross written premiums.
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Insurance service result
−NGN 2.67 billion
(2,673,490) NGN thousands · p84
Change not shown.
-
Profit / (loss) for the year
−NGN 2.85 billion
(2,849,717) NGN thousands · p84
Moved from profit to loss (FY2024: 1,819,064 NGN thousands)
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Total assets
NGN 39.2 billion
39,239,571 NGN thousands · p83
+25.5% vs 2024
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Insurance contract liabilities
NGN 15.3 billion
15,261,325 NGN thousands · p83
−0.1% vs 2024
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Total equity
NGN 20.4 billion
20,360,220 NGN thousands · p83
+66.0% vs 2024
Large amounts are rounded for reading (NGN million / billion / trillion); exact figures as printed are under each amount and in the tables. No currency conversion.
Not shown: the prior-year figure is zero or negative.
Financial statements
Exact figures as printed. Each column comes from one filing; labels are as printed in the newest filing. Amounts in NGN thousands unless the row says otherwise; brackets are negative.
† from a supplementary filing for the same year · ‡ signed audited statements preferred over a disputed figure · “–” is a printed dash, explained below the table
Column sources
- FY2025 — annual report, signed / final; reported for the year · source
- FY2024 — annual report, signed / final; comparative in the FY2025 filing · source
Income statement
| Line (as printed) | FY2025Annual reportreported for the year | FY2024Annual reportcomparative in FY2025 filing |
|---|---|---|
| Insurance revenue | 30,861,346 | 22,819,054 |
| Insurance service expenses | (26,751,097) | (20,801,571) |
| Net expenses from reinsurance contract held | (6,783,739) | (3,232,213) |
| Insurance service result | (2,673,490) | (1,214,730) |
| method1 | 3,435,606 | 2,204,375 |
| Other investment income2 | 100,025 | 47,003 |
| Net fair value gain3 | 2,891,122 | 3,182,002 |
| Net impairment writeback on financial assets4 | 5,311 | 22,475 |
| Investment result | 6,432,064 | 5,455,855 |
| Net finance (expenses)/income from insurance contract | (665,340) | 5,810 |
| Net finance income/(expense) from reinsurance contract held5 | 174,962 | (16,818) |
| Net foreign exchange gains | 494,864 | 3,290,359 |
| Net investment results6 | 6,436,550 | 8,735,206 |
| Net insurance and investment results | 3,763,060 | 7,520,476 |
| Other operating income | 607,017 | 426,878 |
| Operating expenses | (6,981,314) | (6,005,182) |
| (Loss)/profit before taxation | (2,611,237) | 1,942,172 |
| Income tax | (238,480) | (123,108) |
| (Loss)/profit after taxation | (2,849,717) | 1,819,064 |
| Revaluation surplus on property, plant and equipment7 | 126,824 | 285,972 |
| Fair loss on unquoted equity8 | (2,805) | –9 |
| Other Comprehensive income | 124,019 | 285,972 |
| Total comprehensive (loss)/income for the year | (2,725,698) | 2,105,036 |
- Printed “-”, read as nil: subtotal_arithmetic: is.other_comprehensive_income.
Notes and alternative reported figures (8)
- “method” is an issuer-specific line, not mapped to a shared definition: Note 32.1.
- “Other investment income” is an issuer-specific line, not mapped to a shared definition: Note 32.2.
- “Net fair value gain” is an issuer-specific line, not mapped to a shared definition: Note 33.
- “Net impairment writeback on financial assets” is an issuer-specific line, not mapped to a shared definition: Note 38.
- “Net finance income/(expense) from reinsurance contract held” is an issuer-specific line, not mapped to a shared definition: Note 31.
- “Net investment results” is an issuer-specific line, not mapped to a shared definition: Investment result plus insurance and reinsurance finance results and foreign exchange gains.
- “Revaluation surplus on property, plant and equipment” is an issuer-specific line, not mapped to a shared definition: OCI, note 13.
- “Fair loss on unquoted equity” is an issuer-specific line, not mapped to a shared definition: OCI, note 5.2b.
Balance sheet
| Line (as printed) | FY2025Annual reportreported for the year | FY2024Annual reportcomparative in FY2025 filing |
|---|---|---|
| Cash and cash equivalents | 14,817,185 | 10,345,031 |
| At fair value through profit or loss | 357,452 | 387,680 |
| At fair value through other comprehensive income | 859,449 | 290,777 |
| At amortised cost | 2,133,084 | 1,755,636 |
| Trade receivables | 1,009,943 | 1,011,043 |
| Reinsurance contract assets | 4,016,777 | 3,362,448 |
| Other receivables and prepayments1 | 356,357 | 1,368,909 |
| Investment properties | 10,562,129 | 8,185,379 |
| Statutory deposit2 | 535,150 | 535,150 |
| Intangible assets | 267,575 | 311,011 |
| Property, plant and equipment | 4,324,470 | 3,711,260 |
| Total assets | 39,239,571 | 31,264,324 |
| Insurance contract liabilities | 15,261,325 | 15,269,897 |
| Investment contract liabilities | –3 | –3 |
| Other technical liabilities4 | 1,329,669 | 1,728,751 |
| Other payables and accruals5 | 1,041,593 | 1,226,574 |
| Income tax liabilities | 296,863 | 368,479 |
| Deferred tax liabilities | 949,901 | 408,017 |
| Total liabilities | 18,879,351 | 19,001,718 |
| Share capital | 5,541,793 | 916,793 |
| Share premium | 9,889,303 | 3,690,991 |
| Statutory contingency reserve6 | 4,255,054 | 3,568,838 |
| Retained earnings | (710,081) | 2,825,852 |
| Fair value through other comprehensive income | 434,535 | 437,340 |
| Assets revaluation reserve | 949,616 | 822,792 |
| Shareholders' funds | 20,360,220 | 12,262,606 |
| Total liabilities and shareholders' funds | 39,239,571 | 31,264,324 |
- Printed “-”, read as nil: subtotal_arithmetic: bs.total_liabilities.
Notes and alternative reported figures (5)
- “Other receivables and prepayments” is an issuer-specific line, not mapped to a shared definition: Note 8.
- “Statutory deposit” is an issuer-specific line, not mapped to a shared definition: Note 11: statutory deposit with the Central Bank of Nigeria.
- “Other technical liabilities” is an issuer-specific line, not mapped to a shared definition: Note 16.
- “Other payables and accruals” is an issuer-specific line, not mapped to a shared definition: Note 17.
- “Statutory contingency reserve” is an issuer-specific line, not mapped to a shared definition: Note 23.
Cash flow
| Line (as printed) | FY2025Annual reportreported for the year | FY2024Annual reportcomparative in FY2025 filing |
|---|---|---|
| Premium received from policy holders1 | 29,039,296 | 24,399,745 |
| Premium received from deposit administration2 | –3 | 399,866 |
| Reinsurance premium paid net of commission4 | (10,559,352) | (6,048,494) |
| Claims paid5 | (18,577,197) | (8,080,978) |
| Other insurance expenses6 | (3,456,227) | (5,963,130) |
| Deposit administration withdrawals7 | (655,126) | (404,984) |
| Claims received from coinsurers8 | 2,209,708 | 2,923,091 |
| Rental income9 | 23,463 | 16,500 |
| Other income received10 | 85,705 | –3 |
| Management fee11 | 83,484 | –3 |
| Reinsurance claims & expenses received12 | 3,296,246 | 1,982,854 |
| Commission paid13 | (5,510,621) | (3,458,721) |
| Deposit received in advance14 | 1,307,238 | 1,693,552 |
| Dividend transferred to Security and Exchange Commission15 | (154,680) | –3 |
| Cash paid to and on behalf of employees16 | (2,094,957) | (2,604,346) |
| Other operating cash payments17 | (4,437,266) | (6,725,686) |
| Company income tax paid | (244,106) | (94,905) |
| Net cash absorbed from operating activities | (9,644,392) | (1,965,636) |
| Proceeds from redemption of Bonds18 | 779,768 | 1,046,891 |
| Purchase of Bonds19 | (169,876) | –20 |
| Proceeds from redemption of other amortised cost21 | –20 | 2,199,052 |
| Purchase of fixed deposits and treasury bills22 | (993,806) | –20 |
| Proceeds from sales of assets FVPL23 | 428,664 | –20 |
| Acquisition of investment properties24 | (240,065) | (425,250) |
| Acquisition of intangible assets | (104,924) | (293,386) |
| Proceeds from disposal on investment property25 | 694,000 | 160,000 |
| Acquisition of property, plant and equipment | (702,472) | (714,082) |
| Proceeds from disposal on property, plant and equipment | 66,314 | 15,299 |
| Interest income | 3,435,606 | 2,204,375 |
| Dividend Income26 | 100,025 | 47,003 |
| Net cash inflow from investing activities | 3,293,234 | 4,239,902 |
| Cashflow from issue of shares27 | 10,823,312 | –28 |
| Net cash inflow from financing activities | 10,823,312 | –29 |
| Net increase in cash and cash equivalents | 4,472,154 | 2,274,266 |
| Cash and cash equivalents at beginning of the year | 10,345,031 | 8,713,710 |
| Effect of movements in exchange rates on cash and cash equivalents | –30 | (642,945) |
| Cash and cash equivalents at end of the year | 14,817,185 | 10,345,031 |
- Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_operations.
- Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_investing.
- Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_financing.
- Printed “-”, read as nil: subtotal_arithmetic: cf.net_change_in_cash.
- Printed “-”; reading unresolved, so no amount is shown. Printed dash; no printed subtotal confirms a nil reading.
Notes and alternative reported figures (25)
- “Premium received from policy holders” is an issuer-specific line, not mapped to a shared definition: Operating activities.
- “Premium received from deposit administration” is an issuer-specific line, not mapped to a shared definition: Operating activities.
- “Reinsurance premium paid net of commission” is an issuer-specific line, not mapped to a shared definition: Operating activities.
- “Claims paid” is an issuer-specific line, not mapped to a shared definition: Operating activities.
- “Other insurance expenses” is an issuer-specific line, not mapped to a shared definition: Operating activities.
- “Deposit administration withdrawals” is an issuer-specific line, not mapped to a shared definition: Operating activities.
- “Claims received from coinsurers” is an issuer-specific line, not mapped to a shared definition: Operating activities.
- “Rental income” is an issuer-specific line, not mapped to a shared definition: Operating activities.
- “Other income received” is an issuer-specific line, not mapped to a shared definition: Operating activities.
- “Management fee” is an issuer-specific line, not mapped to a shared definition: Operating activities.
- “Reinsurance claims & expenses received” is an issuer-specific line, not mapped to a shared definition: Operating activities.
- “Commission paid” is an issuer-specific line, not mapped to a shared definition: Operating activities.
- “Deposit received in advance” is an issuer-specific line, not mapped to a shared definition: Operating activities.
- “Dividend transferred to Security and Exchange Commission” is an issuer-specific line, not mapped to a shared definition: Operating activities (unclaimed dividends).
- “Cash paid to and on behalf of employees” is an issuer-specific line, not mapped to a shared definition: Operating activities.
- “Other operating cash payments” is an issuer-specific line, not mapped to a shared definition: Operating activities.
- “Proceeds from redemption of Bonds” is an issuer-specific line, not mapped to a shared definition: Investing activities.
- “Purchase of Bonds” is an issuer-specific line, not mapped to a shared definition: Investing activities.
- “Proceeds from redemption of other amortised cost” is an issuer-specific line, not mapped to a shared definition: Investing activities.
- “Purchase of fixed deposits and treasury bills” is an issuer-specific line, not mapped to a shared definition: Investing activities.
- “Proceeds from sales of assets FVPL” is an issuer-specific line, not mapped to a shared definition: Investing activities.
- “Acquisition of investment properties” is an issuer-specific line, not mapped to a shared definition: Investing activities.
- “Proceeds from disposal on investment property” is an issuer-specific line, not mapped to a shared definition: Investing activities.
- “Dividend Income” is an issuer-specific line, not mapped to a shared definition: Investing activities.
- “Cashflow from issue of shares” is an issuer-specific line, not mapped to a shared definition: Financing activities.
Segments
Segment data not yet collected for this company in the pilot.
Dividends
Proposed or recommended, declared and paid are different events and are kept apart. A statement that no dividend was proposed does not mean none was paid.
No dividend statement or amount collected.
Sources
Each filing used on this page, newest period first. Dates are the document's own; the date we retrieved a file is shown separately and is never a publication date.
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Lasaco Assurance Plc 2025 Annual Reports & Accounts
Year ended 31 December 2025 · Annual report · signed / final
Audit: BDO Professional Services, Chartered Accountants (Olusegun Agbana-Anibaba, FCA), unmodified opinion · signed
Auditor's sign-off: Olusegun Agbana-Anibaba, FCA, for BDO Professional Services
Final status: Independent auditor's report to the shareholders of Lasaco Assurance Plc and its subsidiary companies on the consolidated and separate financial statements: unqualified, signed by hand by Olusegun Agbana-Anibaba, FCA (FRC/2013/PRO/ICAN/004/00000003667) for BDO Professional Services, Chartered Accountants, with ICAN seal, 'Lagos, Nigeria 31 July 2026' (PDF p44, page image; opinion p41). The statements were approved by the Board of Directors on 10 April 2026 and signed by the Chairman, the Managing Director/CEO and the CFO (p83).
- Document date
- 31 Jul 2026
- Auditor's report
- 31 Jul 2026
- Board approval
- 10 Apr 2026
- Retrieved by us
- 8 Oct 2026 (not a publication date)
- Used for
- statement columns FY2025, FY2024
- Basis
- consolidated statements · NGN thousands (printed “N'000”)
- The board approved the statements on 10 April 2026 (p83) and the auditor's report is dated 31 July 2026 (p44). Columns printed Group 2025, Group 2024, Company 2025, Company 2024. Interest and dividend income received are presented in investing activities. Kept as printed.
Technical details
- File
- 170 pages, scanned (figures read by OCR and checked against the page image)
- SHA-256
471380406d08b43a5460773f90aa6f86ae5b0f496ab1ecf53bc949b9cc983139- Entity as printed
- Lasaco Assurance Plc; 'LASACO Assurance Plc ("the Company") and its Subsidiaries' (auditor's report)
- Issuer copy
- retrieved 2026-10-08T20:40:36Z
Data notes
- Total comprehensive (loss)/income for the year — OCR read '(2.725,698)'; the page image shows '(2,725,698)'. OCR read a full stop for the first thousands comma of the Group 2025 total comprehensive loss; the render prints (2,725,698) (page image p84). (Lasaco Assurance Plc 2025 Annual Reports & Accounts, p84)
Review status: every figure has been located on its cited source page in an AI-assisted source verification (matched to OCR text and compared cell by cell with the page image; read from the page image) (9 October 2026). Independent review is pending for every figure; automated checks and the AI-assisted verification are not independent review.
Download
Figures shown on this page (CSV) — the same selected figures at their exact printed values, each with its source document, SHA-256, page, selection rule and reading. Independent review of these figures is pending.