By David Akinmola
Lasaco Assurance Plc, a leading player in Nigeria’s insurance and financial services sector, has announced the rebranding of its subsidiaries—Lasaco Properties Limited (LPL) and Lasaco Trading and Investment Limited (LTIL)—as part of a broader transformation agenda aimed at driving operational efficiency, market expansion, and enhanced shareholder value.
The restructuring includes a major leadership appointment, with Mr. Akinwale Sofile, formerly Chief Financial Officer (CFO) of Lasaco Assurance Plc, named as the new Managing Director of Lasaco Trading and Investment Limited. Mr. Sofile, a seasoned finance and investment professional, brings extensive experience in financial management, corporate governance, and strategic investment to position LTIL for sustainable growth and improved profitability.
The Group expressed confidence in Sofile’s capacity to unlock LTIL’s potential, citing his proven leadership within the organization and deep industry knowledge. According to the board, his appointment is expected to accelerate the subsidiary’s contribution to group performance through optimized investment strategies.
Meanwhile, Lasaco Properties Limited will continue under the stewardship of Mr. Olumide Jayeola, an executive with strong credentials in project management, estate management, and real estate development. Jayeola has successfully expanded LPL’s presence in the Lagos property market, with plans to explore new opportunities in emerging urban hubs across Nigeria.
The rebranding initiative encompasses a complete brand refresh, service optimization, and board restructuring for both subsidiaries, aligning their operations with global best practices. These moves, Lasaco stated, are designed to position the Group for sustained competitiveness and diversified revenue streams beyond its core insurance business.
Commenting on the development, the Group reaffirmed its commitment to innovation, efficiency, and sustainable value creation for stakeholders. With Messrs. Sofile and Jayeola leading LTIL and LPL respectively, Lasaco Assurance Plc is confident of stronger performance and greater market impact in the coming years.
