Razzaq Abiodun: Steering Lasaco Assurance to New Heights

The journey of Razzaq Abiodun as the Managing Director of Lasaco Assurance Plc is quite a story—full of determination, expertise, and a sprinkle of inspiration.

Mr. Razzaq Abiodun didn’t just stumble into this role; it’s clear he has a rich tapestry of experience woven into his career. He hails from a solid academic foundation, having earned his degree in a relevant field. But that’s just the beginning. Beyond the classroom, he’s taken on various roles that shaped his skills and understanding of the insurance industry. You know, it’s often said that real learning happens outside of textbooks, and this guy has proven that time and again.

He has many qualifications in spades alongside his degree; he’s pursued further certifications that highlight his commitment to excellence. He’s not just a manager; he’s a leader who believes in continuous learning. This mindset, I think, is crucial in today’s fast-paced world, especially in an industry as dynamic as insurance.

Here’s a detailed breakdown of his background and qualifications and experience. Mr. Razzaq Abiodun holds a Master’s Degree in Business Administration from Lagos State University (1999) and completed his Bachelor of Law, LLB in 2016 at the Ghana Institute of Professional Studies (GIMPA).

He is an associate of the Chartered Insurance Institute of the United Kingdom in 1991 and was awarded a fellowship of the Chartered Insurance Institute of Ghana in 2014. Razzaq began his insurance career with City Union Insurance Company where he rose to the position of Deputy Manager, Claims/Reinsurance, he joined Metropolitan Trust Insurance Company in 1993 (now consolidated Hallmark) and left as Senior Manager with experience spanning across claims, reinsurance, underwriting, and marketing.

In 2001, he moved to Wapic Insurance Plc and rose to the position of Assistant General Manager, before he was appointed pioneer Managing Director of Wapic Insurance (Ghana) Ltd from 2009 to April 2015.

He left the services of Wapic Insurance Plc in August 2015 after working briefly in Nigeria as Group Head, of the retail client’s division.

He joined Lasaco Assurance Plc as the Executive Director in 2017 and was appointed Deputy Managing Director (Technical) in 2018.

Stepping into the role of Managing Director at Lasaco Assurance has been pivotal—not just for him, but for the company itself. Since he took the reins, there’s been a noticeable shift in the company’s dynamics. His leadership style is often described as inclusive and visionary. He doesn’t just bark orders from an office; he engages with his team, fostering a collaborative environment. That kind of approach? It really does wonders for morale and productivity, wouldn’t you agree?

Now, let’s get into the nitty-gritty of his impact on Lasaco’s shares. Currently trading at N2.56, the share price of Lasaco Assurance in the past 52 weeks has touched a high of N5.25 from a low of N1.92. It is trading 51.24% way from its 52 weeks high of N5.25. This implies that a position in the shares of Lasaco Assurance has an uptrend potential of about 51%.

And here’s the thing—it’s not just about the numbers on a balance sheet. Under his guidance, Lasaco has also made strides in community engagement and corporate social responsibility. This guy gets it; he understands that a company’s value is intertwined with the community it serves. That kind of perspective is refreshing.

Looking ahead, it’s exciting to imagine where he’ll lead Lasaco next. With his track record, there’s a lot of reason to believe that the best is yet to come. Whether it’s through innovative products, enhanced customer service, or further growth in share value, he seems poised to take Lasaco Assurance to new heights.

In a nutshell, the M.D. of Lasaco Assurance Plc is more than just a figurehead; he’s a catalyst for change and growth. His journey is a testament to what’s possible when talent meets vision. So, here’s to the future—may it be bright for him and for Lasaco!

Lasaco Assurance Plc whose vision is to be a market leader in Insurance and Financial Services in Nigeria, creating and sustaining an exceptional brand and providing long-term value to their stakeholder is one of the fastest growing Insurance Companies in Nigeria. It is a composite insurance company with various products and services.

Lasaco was incorporated on 20th of December, 1979 and licensed as an insurer on 7th July, 1980. Lasaco commenced full operation on 1st August 1980. With the vast opportunities presented by increased capitalization for business expansion and growth, she became a Public Liability Company in 1991 when its Shares were admitted for the first time to the Nigerian Stock Exchange (NSE) through listing by Introduction.

Providing products and services of superior quality, using modern tools and technology, and a well-motivated workforce to achieve long-term value for all its stakeholders, Lasaco has grown considerably in size, business coverage, profits, capital base and assets with operations spanning all classes of the Insurance and Special Risks business, high impact financial services and Real Estate managed by their subsidiary.