₦airaland Forum

Lasaco Assurance Plc Q3 2026 unaudited filing ended Sept 30, 2026:

*Financial Position - Strong balance sheet growth:*

- *Total Assets*: ₦61.22 billion - up 56%
- *Total Liabilities*: ₦21.51 billion - up only 9%
- *Shareholders' Funds*: ₦39.70 billion - up 93.7%

That 93.7% jump in shareholders' funds is the key story - assets growing much faster than liabilities.

*Income Statement - Better underwriting:*

- *Insurance Revenue*: ₦23.81 billion - up 4%
- *Insurance Service Expenses*: ₦15.45 billion - down 23%, shows tighter underwriting discipline
- *Profit Before Tax (PBT)*: ₦1.60 billion

*What drove it:*

- *Recapitalisation Success*: The equity surge is from the recent capital raises, including SEC No-Objection for the Rights Issue allotment. That puts them comfortably above regulatory capital threshold.

- *Revenue Diversification*: Beyond core general business, Lasaco pushed into agricultural insurance in mid-Oct 2026 to open new revenue lines.

Bottom line: Revenue up small but controlled, expenses down sharply, capital base almost doubled.

Lasaco Assurance Plc.

*Key Performance for 9 months ended Sept 30, 2026:*

- *Insurance Revenue*: ₦23.81 billion
- *Profit Before Tax (PBT)*: ₦1.60 billion

*What it means:*

- *Turnaround Progress*: This is a bottom-line recovery. It follows the H1 2026 turnaround where Lasaco returned to profitability by focusing on strict cost-cutting and better underwriting discipline, rather than just chasing premium volume.

- *Capital Reinforcement*: The result is coming alongside the ₦18.47 billion Rights Issue to strengthen its balance sheet for underwriting larger risks, ahead of the new NAICOM recapitalization requirements.

https://www.marketscreener.com/news/lasaco-assurance-quarter-3-financial-statement-for-2026-ce785cdbda8efe20

https://www.tradingview.com/news/reuters.com,2026:newsml_FWN4651HG:0-lasaco-assurance-plc-says-insurance-revenue-23-81-billion-naira-pbt-1-60-billion-naira-for-period-ended-sept-30-2026/

Block anyone on this thread who posts anything about politics.

*Lasaco Assurance Q3 2026 Unaudited Financials*:

*Capital Raise - Completed*

- Issued shares now *20,319,907,401* vs 11,083,585,855 in Dec 2025.
- That is the Rights Issue (5-for-6 at N2.00) - 9.23bn new shares listed.
- Total Assets jumped *+56% to N61.2bn* from N39.2bn.
- Shareholders Funds jumped *+94% to N39.7bn* from N20.4bn.
- Liabilities only +9% to N21.5bn - so balance sheet is now much stronger.

*Ownership post-rights:*
- Ibile Holdings: *51.00%* (10.36bn shares) - up from 45.93%
- Canon Properties: *36.21%* (7.35bn shares) - up from 24.66%
- Free Float: *12.78%* (2.59bn shares) - *down from 21.52%* - Now below 20% Main Board requirement. Declaration says "on the way to complying" - means they have a waiver period to bring free float back up.

*Performance Q3 2026 vs Q3 2025:*

- Insurance Revenue: *N23.8bn vs N22.9bn (+4%)* - flat growth
- Insurance Service Expenses: *N15.4bn vs N20.0bn (-23%)* - big cost improvement
- Reinsurance Expenses: *N2.5bn vs N5.3bn (-53%)* - retaining more risk
- *Insurance Service Result: N5.84bn profit vs N2.43bn loss last year (+340%)* - turnaround
- Net Investment Result: N2.47bn vs N2.71bn (-9%)
- *Profit Before Tax: N1.60bn vs -N4.71bn loss last year* - N6.3bn improvement

*What this means:*

1. *The N1.6bn PBT is on N20.3bn shares.* Using 20.3bn, EPS is ~N0.06, not N0.11 from old share count.

2. *Free float risk:* 12.78% is non-compliant. Low free float = low liquidity, hard to exit large positions.

3. *Turnaround but not growth:* Profit came from cutting expenses (-23% and -53%), not growing revenue (+4% only). Need to see if cost cuts are sustainable.

4. *Capital not yet deployed:* Assets +56.00% but revenue +4.00% shows the N19bn+ rights cash is sitting in assets, not yet generating underwriting.

If you are holding, the key watch is Q4 - can they convert that N39.7bn equity into insurance revenue growth above 4.00%?

Jaakay:
#Streetfailure, your 3 weeks block has expired. I see you still make dumb posts.

Block him again.

Lasaco Assurance Plc has:

Return on Equity: 3.14%
Price to Earnings Ratio: 15.54x
Debt to Equity Ratio: 0.54x
Current Ratio: 2.06x
Net Profit Margin: 5.24%
Dividend Yield: 0.00%.

*Regency Alliance Insurance Plc* Board meeting to approve *Q3 2026 unaudited results* (for period ended Sept 30).

*When:* *Tuesday, Oct 28, 2026*

*Closed period and insider trading ban:*
- Started *Oct 1, 2026*
- Lasts till *24 hours after filing on NGX Issuers Portal*
- Insiders + related parties *cannot trade* Regency Alliance shares during this window — standard NGX rule to prevent trading on non-public results.

Notice filed Oct 13, in line with NGX listing rules.

So results should hit the market around Oct 28 to 29. If you're holding REGENCY ALLIANCE on NGX, watch for underwriting profit and claims ratio — that's what moves insurance names.

This too

*Access Bank Plc*.

*1. Delayed H1 2026 Audited:*
- Board approved late August, but *NGX granted extension* — waiting on *CBN regulatory approval* to publish.
- Board meeting scheduled for Q3 unaudited now — so H1 audited + Q3 unaudited both pending.
- This is sector-wide — CBN recapitalization review, is holding up bank releases.

*2. eTranzact Complete Exit*.
- Access Bank sold it's entire stake as part of the *56.18% block (5.16bn shares) to Trademarks Global Concepts Limited*.
- Access Bank directors resigned from eTranzact board same time.
- That's the source of that N17.30 ETranzact Plc rally to N159bn cap — market knew Access wanted out.

*3. Fitch Positive:*
- Fitch revised *Access Bank outlook: Stable → Positive*
- Long-Term IDR stays at *'B'* — but outlook upgrade = better international funding access as Nigeria macro stabilizes.

*4. Market:*
- Price: *N28.50*
- Market cap: *N1.51trn*
- Next earnings: *Oct 29, 2026* (Q3).
- Also: *Fully redeemed $500m senior unsecured Eurobond* from own FX liquidity — cleared international obligation.

So, Access is in the recapitalization and clean-up phase — exit non-core fintech (eTranzact), fix Eurobond, wait for CBN sign-off on H1.

Access exiting is what created the eTranzact opportunity, while Access itself is in a holding pattern till Oct 29.

*Whatever it is you are enjoying from other people Today, will other people enjoy same thing from you Tomorrow?*

Diamond098454:
Hmmm
Hmmm🤔 50 ? Men came and they rejected them , it means they wants to remain single likewise some guys in Nairaland that's against marriage
Sonnobax15, essentialone, Gotocourt and others
They said singlehood is better than marriage and you guys were clapping for them.

Not sure I did say that.

Insurance sector Rally, loading...


Most penny insurance stocks heading to Full Bid.

Offer valid whle stock lasts...

A lot of stocks are recovering back today...

Sell off in May, but
Remember to Buy back in September...

*Seplat Energy Sets Big Targets*.

*Seplat’s 4-5 Year Game Plan*
CEO *Mr Effiong Okon* announced 2 major targets at AOW 2026:

*1. Shareholder Returns*
- *$1 billion in dividends* to be distributed over the next 4-5 years
- "We’re well on track" - Seplat has already paid *$835 million* in dividends since borrowing $530 million in early years

*2. Production Ambition*
- *Target: 500,000 barrels of oil per day* via joint venture operations
- Plans: Restore asset integrity, launch new seismic campaigns for fresh exploration upside

*Current Position*
- *Market Cap*: *$3.93 billion* as of late August 2026
- *12-month growth*: *+170.10%* surge in market cap
- *Listings*: Dual-listed on *NGX and London Stock Exchange* - gives access to global capital
- *Balance Sheet*: Described as "highly liquid" with "disciplined capital allocation"

*Beyond Oil: Gas & LPG Push*
1. *Domestic Gas*: Shallow water assets hold est. *12 trillion cubic feet (tcf)* of gas. Plan to monetize faster via expanded pipeline infrastructure.
2. *LPG Expansion*: Scaling footprint to displace biomass cooking in Nigerian homes. Goal: Cut carbon intensity + tackle household air pollution.

*Strategic Context*
Mr Okon linked the aggressive targets to Seplat consolidating as a leading indigenous operator amid IOC divestments. He cited "proven returns to shareholders, clear governance structures, and a dual-pronged oil and gas strategy" as positioning Seplat to "dominate the West African energy landscape."

> “Don’t get me wrong, it has never been a smooth ride. But the feat we have recorded has been monumental” - Mr Okon.

*Quick Take*: Seplat is shifting from survival mode to scale mode. $1bn dividends + 500k bpd + gas/LPG push signals confidence in both cash flow and Nigeria’s energy transition.

Seplat is already #6 NGX MegaCap with $5.58B market cap and +128.83% $ YTD return, driven partly by M&A and PAT surge of 430%.

*BREAKING: Nigeria’s oldest insurer NICON loses licence - NAICOM appoints Receiver*.

*What Happened*
Nigeria’s *National Insurance Corporation of Nigeria (NICON)*, established in 1969 by Decree 2 and owned by the Federal Government, has had its operational licence *RIC-049 revoked by NAICOM*.

*Why*: Persistent failure to meet the new minimum capital requirements under the *Nigerian Insurance Industry Reform Act (NIIRA) 2025*. NICON was among operators that didn’t recapitalise before the deadline.

*What Happens Next*
1. *Receiver Manager Appointed*: Senior Advocate of Nigeria, *Chukwuma-Machukwu Ume, SAN*, is now Receiver and Provisional Liquidator.
2. *Control Transferred*: The Receiver now controls all affairs, assets, and records of NICON.
3. *Public Notice Issued*: Policyholders, creditors, govts, business partners, and land registries were told to direct all matters to the Receiver.
_Warning_: Any new transactions/contracts made in NICON’s name without the Receiver’s ratification *will not be honoured*.
4. *Mandate*: Secure assets, establish liabilities, and oversee an orderly winding-up. The Receiver will also submit periodic reports to NAICOM.

*What This Means for Stakeholders*
- *Policyholders*: Claims verification and settlement of _legitimate_ liabilities will be prioritized during liquidation.
- *Creditors/Business Partners*: All dealings must now go through the Receiver.
- *Industry Signal*: NAICOM says this is part of enforcing NIIRA 2025 to "strengthen financial capacity" and ensure only adequately capitalised insurers remain.
NAICOM also confirmed that *43 reinsurance companies* successfully met the new capital requirements.

*Key Context*
This is a major regulatory intervention. By appointing a Receiver/Provisional Liquidator, NAICOM removes NICON’s management and puts the company under an officer whose job is to preserve assets to settle lawful obligations and prevent unauthorized dealings.

For a company that has been around since 1969, this marks the end of an era and shows how strict NAICOM is getting post-recapitalisation.

*BREAKING: Nigeria’s oldest insurer NICON loses licence - NAICOM appoints Receiver*.

*What Happened*
Nigeria’s *National Insurance Corporation of Nigeria (NICON)*, established in 1969 by Decree 2 and owned by the Federal Government, has had its operational licence *RIC-049 revoked by NAICOM*.

*Why*: Persistent failure to meet the new minimum capital requirements under the *Nigerian Insurance Industry Reform Act (NIIRA) 2025*. NICON was among operators that didn’t recapitalise before the deadline.

*What Happens Next*
1. *Receiver Manager Appointed*: Senior Advocate of Nigeria, *Chukwuma-Machukwu Ume, SAN*, is now Receiver and Provisional Liquidator.
2. *Control Transferred*: The Receiver now controls all affairs, assets, and records of NICON.
3. *Public Notice Issued*: Policyholders, creditors, govts, business partners, and land registries were told to direct all matters to the Receiver.
_Warning_: Any new transactions/contracts made in NICON’s name without the Receiver’s ratification *will not be honoured*.
4. *Mandate*: Secure assets, establish liabilities, and oversee an orderly winding-up. The Receiver will also submit periodic reports to NAICOM.

*What This Means for Stakeholders*
- *Policyholders*: Claims verification and settlement of _legitimate_ liabilities will be prioritized during liquidation.
- *Creditors/Business Partners*: All dealings must now go through the Receiver.
- *Industry Signal*: NAICOM says this is part of enforcing NIIRA 2025 to "strengthen financial capacity" and ensure only adequately capitalised insurers remain.
NAICOM also confirmed that *43 reinsurance companies* successfully met the new capital requirements.

*Key Context*
This is a major regulatory intervention. By appointing a Receiver/Provisional Liquidator, NAICOM removes NICON’s management and puts the company under an officer whose job is to preserve assets to settle lawful obligations and prevent unauthorized dealings.

For a company that has been around since 1969, this marks the end of an era and shows how strict NAICOM is getting post-recapitalisation.

If you carry 1 night stand reach house, abeg how una take dey start? Who makes the first move? Because we just dey press phone since ooo.

What are the Signs to know that someone lacks financial integrity

Prestar:

💔😭 Reports circulating online claim that Nigerian influencer Nimmy Ferrari has passed away.

The news is particularly heartbreaking, coming just days after she mourned the death of Ogogo.

Nimmy was still active on social media recently, making the reports even more difficult… pic.twitter.com/blQICwZCiv

— Star Potter (@Starpotternews) September 6, 2026

How does it concern us that another Prostitute is dead?

*Signs to know that someone lacks financial integrity*.

Financial integrity isn’t just about being rich or poor. It’s about how someone handles money, promises, and other people’s trust. Here are red flags to watch for:

*1. How they handle money that isn’t theirs*
- *Borrows and "forgets" to pay back* - Always has an excuse. "I’ll pay you next week" becomes next month, then never.
- *Gets defensive when you ask about debt* - Turns it into "you don’t trust me" instead of giving a date.
- *Uses other people’s money casually* - Spends group contributions, company funds, or “I’ll send you later” money without tracking it.

*2. How they talk about money*
- *Lives a lifestyle way above their income* - New iPhone, trips, clubbing, but no clear source of income and always "broke" when it’s time to contribute.
- *Secretive and inconsistent* - Stories about business/investments keep changing. Can’t explain where money comes from or goes.
- *Brags about cutting corners* - "I found a way to dodge that payment" or "I used company money and no one noticed" said like it’s smart.

*3. How they treat agreements*
- *No receipts, no records* - Hates putting anything in writing. "We’re friends, why do you need it written?"
- *Always has an emergency* - Every deadline for payment coincides with a "family emergency" or "bank issue".
- *Blames others* - It’s never their fault. The bank, the client, the government, you... anyone but them.

*4. How they treat people + opportunities*
- *Opportunistic with friends* - Only calls when they need money, a connection, or a favor. Disappears after.
- *No respect for small amounts* - "It’s just 2k" but will fight you over 2k. If they can’t be faithful with little, they won’t with much.
- *Pressures you to do shady things* - "Just sign this", "Let’s inflate the invoice", "Don’t tell anyone". Tests your boundaries.

*5. Deeper patterns*
- *Envy + comparison* - Obsessed with what others have. Sees money as a competition, not a tool.
- *No long-term plan* - Earns, spends, repeats. No savings, no investment, no budget. Just vibes.
- *Double standards* - Expects you to be accountable but holds themselves to zero standard.

*Why this matters*
Lack of financial integrity usually leaks into other areas: relationships, business, and character. Money just exposes what’s already there.

*The test*: Watch them with small money, borrowed money, and other people’s money. That’s where character shows.

Samueltemi337:
You just shade yourself and you you don't even know

Then you never learnt Comprehension in school. Read those words again in between lines, and just maybe you will learn some wit.

*UACN Plc H1 2026 Update: Debt Down, Cash Up, Stays BULLISH* 📈

Here’s the breakdown:

*1. Deleveraging & Cash Story*
- *Total Debt*: Dropped to *N307 billion* in H1 2026 vs N344.8 billion at end of 2025. That’s a *N37 billion repayment* in 6 months.
- *Why*: Free Cash Flow exploded to *N70.9 billion* from just *N8.8 billion in H1 2025*.
- *Impact*: Financing costs fell *18.8% QoQ in Q2 2026*.
- *Forecast*: Analysts now see FY2026 debt at *N284 billion*, down from previous N297 billion forecast.
- *Working Capital Win*: Inventory reduction was key to the cash generation.

*2. What’s Driving Growth*
- *Packaged Foods & Beverages*: The engine. Delivered *84.2% of group revenue* in H1 2026.
- *C.H.I. Limited Integration*: Big win. Operating margins jumped to *15.1%* vs *2.2% at acquisition*.
- *Cost Relief*: Input costs easing - granulated sugar, whole milk powder, laminate, and vegetable oil all softened, boosting margins.

*3. Analysts View*
- *Rating*: *BUY* maintained
- *New 12-month Target*: *N246.65/share*
- *Upside*: *38.6%* from reference price of *N177.90*

*4. Outlook H2 2026*
*Tailwinds*:
- Festive season volume growth expected
- Stable Naira + cooling inflation

*Risks*:
- *Volatile global energy and fuel costs* - the main threat to H2 margins.

*The Thesis in 1 line*: UACN is turning into a cash machine. Debt is falling fast, C.H.I. is integrating well, and costs are easing. That’s why Analysts see ∼39% upside.