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LASACO Assurance posted a N1.60bn profit before tax for the nine months ended September 30, 2026, reversing a N4.72bn loss in the same 2025 period, on revenue of N23.81bn, though operating cash flow remained negative.

Ibile’s majority stake reshapes LASACO’s ownership as the insurer reduces accumulated losses and moves closer to dividends.

Insurance revenue rose 3.71 per cent while service expenses fell 22.79 per cent, the company still used N416.82 million of operating cash, and free float narrowed to 12.78 per cent as two shareholders lifted their combined stake to 87.21 per cent.