LASACO Assurance Plc Appoints New MD

Yemisi Izuora


The Board of Directors of Lasaco Assurance Plc., has appointed Razzaq Abiodun as the new Managing Director/Chief Executive Officer, of the underwriting firm

The appointment followed the retirement of the firm’s former managing director, Segun Balogun, who retired from the company effective from May 29, 2021.

Balogun is a financial industry expert with experience that span over three decades. Prior to his appointment as Managing Director of LASACO Assurance Plc in 2016, he was the Chief Executive Officer of FBN General Insurance Limited. He was also the former MD/CEO of WAPIC Insurance Plc for 13 years.

He is an alumnus of the prestigious University of Lagos, a Fellow of the Chartered Insurance Institute of Nigeria and an Associate of the Chartered Insurance Institute of the United Kingdom.

The new Managing Director, Abiodun has over 30 years experience in the insurance industry with technical expertise in claims, reinsurance, underwriting and marketing.

He worked for a host of leading insurance companies like the defunct City Union Insurance, Metropolitian Trust Insurance (now Consolidated Hallmark), WAPIC Insurance Plc, among others.

Abiodun joined Lasaco Assurance Plc in 2017 as Executive Director, Technical and later became Deputy Managing Director Technical.

He is an alumnus of the Lagos State University and the Ghana Institute of Professional Studies (GIMPA), where he obtained a MBA and LLB respectively.


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