Lasaco Assurance Releases 2019 Full Year Report

Lasaco Assurance Plc has released its financial statement for the full year 2019. The company's gross premium written and gross premium income increased as seen by AllNews in the financial statement. Lasaco Plc reported that it recorded N9.3 billion in gross premium writen in 2019, surpassing N9 billion of 2018 full year.

The company also recorded N9.7 billion for gross premium income in 2019, surpassing the N8 billion it reported in the corresponding period of 2018. Lasaco Plc disclosed that the company's Net underwriting income for 2019 was N6.7 billion, more than the N5.2 billion it recorded in 2018.

Meanwhile, Lasaco's underwriting profit for 2019 was N2.2 billion, higher than the N2.1 billion it recorded two years ago. However, Profit before taxation declined to N347.7 million in 2019, from the N958.1 million. AllNews also gathered that Profit for the year after tax was N315.7 million in 2019, below the N736.2 million generated in the corresponding period of 2018.