LASACO Assurance posts 166.65% rise in annual profit

LASACO Assurance Plc has reported an increase of 166.65 percent in its profit before tax for the 2020 financial year.

The insurance firm posted a pretax profit of N927.34 million last year, up from N347.77 million in 2019, according to its financial statements obtained by Markets Reporters on Thursday.

Its profit after tax rose to N780.16 million in 2020 from N315.75 million a year ago, while its gross premium increased to N10.94 billion from N9.34 billion.