Lasaco Assurance got the green light from its shareholders to boost its capital. The insurer is aiming for a thirty-six billion naira level. This move beats the upcoming regulatory deadline for composite firms, which is set at twenty-five billion.
The chairperson, Teju Philips, ran the meeting in Lagos. She explained the plan aligns with the new insurance reform act. The higher capital base will let the company underwrite more business. The proposal involves a private placement and a rights issue to create billions of new shares. Attendees included directors like Fola Tinubu and Ademola Oshodi.
Shareholders approved all related measures. This includes changing the company's official documents and letting directors finalize the deal. The company secretary will handle the necessary government paperwork. Lasaco states it has a solid history of paying claims and operating transparently.
The chairperson, Teju Philips, ran the meeting in Lagos. She explained the plan aligns with the new insurance reform act. The higher capital base will let the company underwrite more business. The proposal involves a private placement and a rights issue to create billions of new shares. Attendees included directors like Fola Tinubu and Ademola Oshodi.
Shareholders approved all related measures. This includes changing the company's official documents and letting directors finalize the deal. The company secretary will handle the necessary government paperwork. Lasaco states it has a solid history of paying claims and operating transparently.
