‎Lasaco Assurance Plc has set May 13, 2026, as the closing date for its ongoing Rights Issue, in a move aimed at strengthening its capital base and reinforcing its position in Nigeria’s competitive insurance market.
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The offer, approved by the Securities and Exchange Commission Nigeria, involves 9.24 billion ordinary shares of 50 kobo each, priced at ₦2.00 per share. It is structured on the basis of five new shares for every six existing shares held by shareholders whose names were on the company’s register as of February 20, 2026.
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Proceeds from the exercise are projected at approximately ₦18.47 billion, which the insurer plans to deploy toward enhancing its underwriting capacity, strengthening its balance sheet, and expanding its footprint across key segments of the market.
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The transaction is being led by Meristem Capital Limited as Lead Issuing House, with PAC Capital acting as Joint Issuing House.
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Commenting on the development, Managing Director, Ademoye Shobo, said the capital raise reflects the company’s resolve to maintain a strong financial position capable of meeting policyholder obligations while delivering sustained value to shareholders.
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Analysts say the move underscores a broader recapitalisation trend in Nigeria’s insurance industry, as firms respond to tighter regulatory thresholds and position for larger, more sophisticated risk underwriting across critical sectors of the economy.