LASACO Assurance Plc said it had returned to a composite structure having merged its life operations with the general unit, effective from 2015 financial year.
A statement obtained from the firm on Sunday said this strategic move was aimed at running a seamless insurance business, positioned to deliver world class service.
The Group Managing Director, Mr. Olusola Ladipo-Ajayi, stated that adapting to market demand and business operating environment was imperative for the success of any business outfit.
“The decision to merge our life outfit with the general company was taken after a deep thought on a number of business variables and the need to chart a new course for the group,” he said.
Ladipo-Ajayi stated that business requires pragmatism, and it has always been bold in taking decisions not based on sentiment or following a routine, but after a systematic analysis of business trends with the future in view.