Lasaco Assurance Plc is raising ₦18.47 billion through a rights issue to strengthen its capital base.
First, the insurer announced the plan at a Lagos signing ceremony after regulators approved it.
Lasaco Assurance Capital Raise Plan
Next, the Nigerian Exchange Group and the Securities and Exchange Commission granted clearance.
Then, the company offers 9.24 billion shares at ₦2.00 each to existing shareholders.
It structures the deal as five new shares for every six currently held.
Meanwhile, shareholders on the register as of February 20, 2026 can participate.
After that, the acceptance window opens on April 2 and closes on April 24.
At the same time, the Nigerian Exchange Limited will enable trading of the rights during the offer period.
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Shareholder Backing
Managing Director Ademoye Shobo said shareholders earlier approved the capital raise.
In addition, the company includes a private placement to support broader funding goals.
Previously, shareholders approved an increase in capital from ₦11.08 billion to ₦36.08 billion.
Growth Strategy
Consequently, the new funds will boost underwriting capacity and support expansion into larger risks.
Advisers include Meristem Capital Limited and PAC Capital.
Overall, the move aligns with industry efforts to strengthen capital buffers and improve competitiveness.
As a result, stronger capital positions allow insurers to underwrite larger and more complex risks.
Ultimately, the outcome will shape Lasaco’s growth trajectory and market position in coming years.
