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.

Security Trading Policy

The Company has a share trading policy which is being adhere to in compliance with the requirements of the Nigerian Stock Exchange.

Complaint Management Framework Policy

The Company ensures that communication and dissemination of information regarding the operations of the Company to shareholders, potential investors and general public is timely, accurate and continuous.
In compliance with the requirements of Securities and Exchange Commission’s rules relating to the Complaints Management Framework of the Nigerian Capital Market issued in 2015 and the directive of the Nigerian Stock Exchange issued in 2015. Also, the Company has put in place a Complaints Management Framework Policy.
The Complaint Management Framework Policy sets out the Board framework by which LASACO Assurance Plc and its Registrar will provide assistance regarding Shareholders issues and concerns. It also provides feedback mechanism matters that affect shareholders.

 

 

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