Corporate Governance

Corporate Governance

Corporate Governance & Our Business Principles

At LASACO Assurance Plc, we take good effective corporate governance seriously and in line with our resolution to maintain the highest ethical standards and professionalism in our business operations and practices, we have committed substantial time and resources toward the development of a Quality Policy Statement, a Code of Corporate Governance and a Code of Professional Responsibility. These Codes also derive from and reflect the recommendations and Best Practices highlighted by the Securities and Exchange Commission (SEC) Committee on Corporate Governance of June 2000.

All the Codes are designed to work as a self-evaluation mechanism ensuring better director performance, improved management oversight and general board effectiveness. They also reflect a convergence of our core values and business principles.

The Directors of LASACO are primarily responsible for providing strategic direction for the company, which work includes strategy formulation, policy making, strategic planning, establishing and enforcing internal control systems, supervision of the executive management and accountability to shareholders and others. On the whole, the LASACO Board ensures responsible and effective governance of the company.

The various responsibilities of the Board are discharged through an effective Committee system, which ensures the active participation of all Directors in the supervision, policy and strategic direction of the company. .

Authorised and Regulated by the National Insurance Commission (RIC 023)