Lasaco Assurance Plc capital position gas improved in the first three months, helped by lower claims expenses as well as a return to profit.
The insurer’s solvency margin ratio improved to 231 percent as at March 2026, from 157 percent as at March 2025, according to data gathered by MoneyCentral.
Solvency ratio in the insurance industry indicates an insurer’s ability to cover its liabilities and other obligations with the assets that it has. In insurance, solvency ratio is measured as the ratio of the amount of Available Solvency Margin to the amount of Required Solvency Margin. Life insurers in India are expected to have a minimum solvency ratio of 1.5, or 150 percent.
The improvement in solvency margin ratio also means that Lasaco Assurance can pay claims or meet its obligation to policy holders given its healthy balance sheet and liquidity position.
Of course, consistent profit which paves the way for the company to deliver returns to shareholders is partly pivotal to increased capital position and stability.
Lasaco Assurance profit after tax (PAT) spiked by 80.76 percent to N2.35 billion in the first three months of 2026, from N1.30 billion as at March 2025.
A reduction in business activities and expansion efforts undermined the top line (sales) growth as insurance service revenue dipped by 10.64 percent to N9.32 billion as at March 2026 from N10.43 billion the previous year.
Insurance service expenses reduced by 27.06 percent to N5.39 billion in the period under review from N7.39 billion the previous year.
The insurer paid N2.45 billion, which represents a 38.49 percent reduction from 2025 N4 billion.
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