Joy Agwunobi
Lasaco Assurance Plc, one of Nigeria’s foremost insurance and financial services providers, has announced a major restructuring of its investment and property subsidiaries as part of a broader strategy to strengthen operational efficiency and enhance competitiveness in key markets.
The Group said its subsidiaries—Lasaco Properties Limited (LPL) and Lasaco Trading and Investment Limited (LTIL)—have undergone a comprehensive rebranding exercise designed to reposition them for growth. The move, according to the company, underscores its commitment to innovation, excellence, and long-term value creation across its diversified business portfolio spanning insurance, financial investments, and real estate.
As part of the restructuring, Lasaco also announced new leadership appointments. Akinwale Sofile, a seasoned finance and investment professional, has been named managing director of Lasaco Trading and Investment Limited (LTIL).
Sofile, who previously served as Chief Financial Officer (CFO) of Lasaco Assurance Plc, brings extensive expertise in financial management, corporate governance, and investment strategy. His elevation, the company noted, is a deliberate step to strengthen its investment arm and ensure sustainable profitability.
The board of Lasaco expressed strong confidence in Sofile’s ability to reposition LTIL, citing his proven leadership within the group and his deep understanding of financial markets. “We believe his track record and experience will be instrumental in driving LTIL towards increased profitability and improved contribution to the group’s overall performance,” the board said in a statement.
Meanwhile, Lasaco Properties Limited (LPL) will continue under the leadership of Olumide Jayeola, an executive with a multi-disciplinary background in project management, estate management, law, and theology. Jayeola has successfully expanded LPL’s footprint in Lagos’ competitive real estate sector through project development, joint ventures, and property management.
The company disclosed that under his stewardship, LPL is now exploring opportunities to extend its operations to other urban markets across Nigeria.
The rebranding exercise, which includes refreshed corporate identities, service enhancements, and governance reforms, is aimed at aligning the subsidiaries more closely with the group’s vision of sustainable growth. The company confirmed that both boards have been restructured and strengthened with directors whose expertise will help deliver improved value to clients, investors, and other stakeholders.
According to Lasaco Assurance, the transformation of its subsidiaries is expected to deliver tangible results in the near term, particularly through expanded revenue streams, better investment returns, and enhanced shareholder value. With Sofile and Jayeola steering LTIL and LPL respectively, the Group expressed optimism about the subsidiaries’ capacity to accelerate growth and contribute significantly to the group’s market leadership aspirations.
“Lasaco remains committed to delivering innovative insurance, financial, and real estate solutions that respond to the evolving needs of our clients,” the company said, adding “With the rebranding and the leadership of Messrs. Jayeola and Sofile, we are confident that the subsidiaries are well-positioned for sustained growth and to play an even greater role in the group’s long-term success.”
