Lasaco Assurance gets A- rating, earnings stability projections

Lasaco Assurance Plc has been assigned an initial national scale financial strength rating of A-(ng) with a Stable Outlook by GCR Ratings (GCR), a global, highly respected rating agency.The Chairman, Lasaco Assurance Plc, Mrs Teju Phillips, expressed her satisfaction with the development, saying: “We are excited with this initial rating of “A-“, with a stable outlook, from GCR. We would continue to adhere to global best practices in corporate governance and risk management,”

Reacting to the rating, the Managing Director, Lasaco Assurance Plc, Mr Razzaq Abiodun, said, “with this rating and projections, coupled with our pedigree in the area of corporate governance, management capacity and rich historical heritage, the Company is well-positioned to meet the recapitalisation requirements.

Also reacting, the Deputy Managing Director, Corporate Services, Mr Rilwan Oshinusi, said, “the rating is a testament to our balance sheet capacity, quality of the risk asset portfolio, and risk management practice.” We appreciate the rigorous and diligent assessment of the GCR team as it provides an additional layer of independent review of our corporate governance and risk management practice.

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