Ebere Nwoji
LASACO Assurance Plc has expressed confidence in its ability to cross the recapitalisation huddle, saying it has perfected plans to upgrade its capital from present level of N4.6 billion to N18 billion.
Also, the underwriting firm said it has confidence in its shareholders’ ability and willingness to raise N13.4 billion that would be added to its existing N4.6 billion to meet the N18 billion mark as stipulated by the regulator, the National Insurance Commission(NAICOM).
LASACO Assurance Managing Director, Mr Segun Balogun, said this at a recent press briefing to announce the 40th anniversary of the company in Lagos, adding that the insurer has 18 billion shares to issue.
He said the company would first approach its top 10 shareholders through private placement then would take the rest to public.
According to him, the shareholders were already waiting for the company to come to the public and have given their assurance of…
Source: Thisday Newspaper
