LASACO ASSURANCE PLC FINANCIAL STATEMENTS 31 DECEMBER 2022
LASACO ASSURANCE PLC | |
Contents | Pages |
Corporate Information | i-iii |
Results at a glance | iv |
Report of the Directors | v-viii |
Statement of Directors' Responsibilities | ix |
Certification By Company Secretary | x |
Certification pursuant to section 60(2) of Investment and Securities Act No 29 | xi |
Report of the Audit and Compliance Committee | xii |
Management Discussion and Analysis | xiii-xiv |
Corporate Governance Report | xv-xviii |
Risk Management Declaration | xix |
Independent Auditors' Report | 1- 4 |
Statement of Significant Accounting Policies-General Information | 5 |
Statement of Significant Accounting Policies | 5 - 33 |
Statement of Financial Position | 34 |
Statement of Profit or Loss and Other Comprehensive income | 35 |
Statement of Changes in Equity | 36 |
Statement of Cash Flows | 37 |
Other notes to the financial statements | 38 - 86 |
Statement of value added | 87 |
Five year financial summary | 88 |
Life revenue account | 89 |
Non-life revenue account | 90 |
i
FINANCIAL STATEMENTS, 31 DECEMBER 2022 Corporate Information
Directors
Mrs. Olateju Phillips Mr. Razzaq Abiodun Mr. Rilwan Oshinusi Mr. Ademoye Shobo Engr. Sani Ndanusa Mr. Akin Odusami Otunba Akin Doherty Prince Jamiu Adio Saka Mr. Adeniyi Rasaq SaliuChairman
Managing Director/CEO
Deputy Managing Director(Corporate Services) Executive Director -Technical
Independent Director
Non-exceutive Director (Resigned 7/02/2022) Non-exceutive Director
Non-executive Director
Non-executive Director (Appointed on 7/11/ 2022)
Company SecretaryRegistered OfficeRegistration Number
Tax Identification Number
Corporate Head Office
Mrs. Gertude Olutekunbi Plot 16, ACME Road Ogba Industrial Estate Ikeja
Lagos State.
LASACO House
Plot 16, ACME Road Ogba Industrial Estate Ikeja
Lagos State.
31126 02306657-0001
LASACO House
Plot 16, ACME Road Ogba Industrial Estate Ikeja
Lagos State.
Tel: (234) 01 - 2120557
E-mail:info@lasacoassurance.comWebsite:www.lasacoassurance.com
Registrars
APEL Capital & Trust Limited
8, Alhaji Bashorun Street
Off Norman Williams Crescent, South West, Ikoyi
Lagos
Telephone: 01- 873928, 7401444-5 Mobile No: 07046126698
Bankers
Polaris Bank Limited
First Bank of Nigeria Limited Ecobank Nigeria Limited Heritage Bank Plc
First City Monument Bank Limited United Bank for Africa Plc Guaranty Trust Bank Limited Sterling Bank Plc
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Corporate Information (Cont'd)Auditors
BDO Professional Services (Chartered Accountants) ADOL House, 15 CIPM Avenue Central Business District Alausa, Ikeja, Lagos.
P.O.Box 4929,GPO, Marina Lagos.www.bdo-ng.com
Actuary
EY Actuaries 10th & 13th Floor, UBA House 57 Marina
Lagos Nigeria
Estate Valuer
Oletubo & Co Estate Surveyors & Valuers 9, Arapasanwu Street, off oluwaloimu
Off Amore Street,
Toyin Street, Ikeja
Fola Oyekan & Associates Estate Surveyors & Valuers 13, Ogunlana Drive ,
Surulere, Lagos
Solicitors
Obioha Jude Idigbe & Co 10 Marina
Onikan Lagos.
Lawrence Osayemi & Co 38/40 Orlando Martins Street Off Igbosere Road
Lagos.
Abdulkareem & Abdulkareem 7 Gray Street
Behind Yaba Chief Magistrate Court Yaba Lagos.
Reinsurers
African Reinsurers Corporation Continental Reinsurance Corporation SWISS Reinsurance Company
WAICA Reinsurance Pool
Our Vision
To be a market leader in Insurance and Financial Services in Nigeria, creating and sustaining an exceptional brand and providing long term value to our Stakeholders.
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Corporate Information (Cont'd)Our Mission
We are committed to be the Insurance and Financial Services Company of choice in Nigeria, providing Products and Services of Superior Quality, using modern tools and a well motivated workforce to create long term value for all our Stakeholders.
Core Values
Excellence Professionalism Integrity Customer Focus Trust Accountability Creativity Teamwork
Quality Policy Statement
LASACO Assurance Plc is committed to delivering Insurance and Financial Services Of Superior Quality, surpassing customers expectations and ensuring strict compliance with regulatory/statutory requirements.
We are committed to continually improving the effectiveness of our Quality Management System.
We establish measurable goals and objectives at Departmental levels which we review as the need arises ensuring timely, effective implementation of Company strategy.
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Lasaco Assurance plc published this content on 30 March 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 March 2023 21:15:14 UTC.