GCR affirms Lasaco Assurance rating

GCR Ratings has affirmed insurance company, Lasaco Assurance Plc, rating of A (NG) with a stable outlook underlining its robust financial position and resilience.

The report by GCR highlighted Lasaco Assurance’s strong risk-adjusted capitalisation and liquidity, showing its ability to withstand market volatility and maintain financial stability.

In a statement following the rating affirmation, Lasaco said that it was addressing the areas of strategic focus identified in the GCR report, which included modest competitive position and underwriting losses,

“By proactively focusing on these areas, Lasaco Assurance Plc is positioning itself for sustained success and further strengthening its position in the market.

“Looking forward, Lasaco Assurance Plc is poised for even greater financial strength, with a finalised capital injection expected to bolster its capabilities further. This injection will undoubtedly enhance the company’s ability to continue delivering top-tier insurance services and meet its obligations,” the company said.

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