{"url":"https://newsforagent.com/news/2026-10-26/lasaco-assurance-operating-cash-outflow","markdown_url":"https://newsforagent.com/news/2026-10-26/lasaco-assurance-operating-cash-outflow.md","title":"Lasaco Assurance cuts operating cash outflow to N416.82m","headline":"Lasaco Assurance narrows nine-month operating cash outflow to N416.82m as premiums fall","description":"Lasaco Assurance cut its nine-month operating cash outflow to N416.82m from N9.64bn, as premium collections fell 10.7% to N25.93bn and cash rose to N33.76bn.","section":"Earnings & Results","published_at":"2026-10-26T00:17:08+00:00","modified_at":"2026-10-26T00:17:08+00:00","author":"News Desk","key_takeaways":["Lasaco Assurance reduced its net cash outflow from operating activities to N416.82m in the nine months to September 2026, from N9.64bn a year earlier.","Premium collections fell 10.7% to N25.93bn, while reinsurance premiums paid dropped to N7.67bn and claims paid and other expenses fell to N9.93bn.","Cash and cash equivalents rose to N33.76bn from N14.82bn at the start of the year, supported by N18.10bn in share issuance proceeds."],"companies":[{"name":"Lasaco Assurance","is_primary":true,"profile_url":"https://akta.pro/company-profiles/000anh9/lasaco-assurance","website":"https://lasacoassurance.com"}],"source":{"publisher":"Punch Newspapers","title":"Lasaco Assurance cuts operating cash outflow to N416.82m","url":"https://punchng.com/lasaco-assurance-cuts-operating-cash-outflow-to-n416-82m/"},"other_sources":[],"tags":["Earnings & Results","Lasaco Assurance"],"body_markdown":"[Lasaco Assurance](https://akta.pro/company-profiles/000anh9/lasaco-assurance) Plc cut its net cash outflow from operating activities to N416.82m in the nine months ended September 30, 2026, from N9.64bn in the same period of 2025. [Punch Newspapers](https://punchng.com/lasaco-assurance-cuts-operating-cash-outflow-to-n416-82m/) reported the figures from the insurer's unaudited financial statements.\n\n## How Lasaco's Nine-Month Cash Flows Moved\n\nLasaco Assurance is a Nigerian composite insurer covering life and non-life risks, listed on the NGX and serving individual, corporate and government customers through nine branches and a digital portal.\n\nThe consolidated statement of cash flows showed premium collections fell to N25.93bn from N29.04bn a year earlier, a decline of 10.7 per cent. Reinsurance premiums paid dropped to N7.67bn from N10.56bn, while claims paid and other expenses fell to N9.93bn from N18.58bn. Commission payments also declined to N2.58bn from N5.51bn.\n\nAcquisition and other claims expenses increased to N5.08bn from N3.46bn. Reinsurance claims and expenses received rose to N3.75bn from N3.30bn, while claims received from co-insurers declined to N302.64m from N2.21bn.\n\nCash and cash equivalents increased to N33.76bn at the end of September 2026, up from N14.82bn at the beginning of the year. The increase was largely supported by N18.10bn in proceeds from the issuance of shares, compared with N10.82bn a year earlier. The company reported no dividend payments to equity holders during the period.\n\n## Lasaco's Recapitalisation and Profit Figures\n\nAccording to akta.pro [company records](https://akta.pro/company-data), Lasaco launched an N18.47 billion rights issue of 9.24 billion ordinary shares at N2.00 per share on a 5-for-6 basis in April 2026, with Meristem Capital as lead issuing house and PAC Capital as joint issuing house. The same records show insurance revenue grew 31.4% in 2025 to N30 billion, from N22.82 billion in 2024, and total assets rose 16.6% in the first quarter of 2026 to N46.20 billion.\n\n## The Run-Up to Lasaco's Third-Quarter Filing\n\nIn July 2026, Lasaco Assurance completed a rights issue that raised N19.30 billion against a target of N18.47 billion, a 4.5% oversubscription, Punch Newspapers reported. The same month, the Securities and Exchange Commission gave No-Objection Approval for the allotment of 9,236,321,546 ordinary shares at N2.00 per share, Punch Newspapers reported. In August 2026, Lasaco completed its recapitalisation after receiving clearance from the National Insurance Commission, Punch Newspapers reported.\n\n## What Follows Lasaco's Rights Issue\n\nIn October 2026, Ibile Holdings increased its stake in Lasaco Assurance to 51% after the insurer's 2026 rights issue, crossing the 50% ownership threshold, Nairametrics reported. Lasaco Assurance also reported group pre-tax earnings of N1.60 billion for the nine months ended September 30, 2026, reversing a N4.72 billion loss in the same period of 2025, Nairametrics reported.\n","publisher":{"name":"News for Agent","url":"https://newsforagent.com"}}