Lasaco Assurance Plc has appointed Ademoye Shobo as its new Managing Director and Chief Executive Officer, effective 6 February 2026, following regulatory approval from the National Insurance Commission.
In a disclosure filed with the Nigerian Exchange Limited (NGX) and signed by the company secretary, Gertrude Olutekunbi, the insurer confirmed that the National Insurance Commission (NAICOM) approved Mr Shobo’s elevation to the top executive role.
“Lasaco Assurance Plc hereby notifies the Nigerian Exchange Limited (NGX), its esteemed shareholders, and the investing public that the National Insurance Commission (NAICOM) has approved the appointment of Mr Ademoye Shobo as the Company’s Managing Director/Chief Executive Officer, effective 6th February, 2026,” the statement read.
The board expressed confidence that Mr Shobo would drive the company’s strategic agenda and strengthen operational and financial performance.
Lasaco, a composite insurer providing life and general insurance products, said the appointment aligns with its long-term growth and performance objectives.
Professional background
Mr Shobo brings over three decades of industry experience within Lasaco Assurance Plc, having joined the company in 1993 as an officer in its audit department.
He holds a Bachelor of Science degree in Chemistry from Lagos State University (1988) and a Master of Business Administration from Nasarawa State University (2023). He became an Associate Member of the Chartered Insurance Institute of Nigeria in 1998.
Over the years, he has served across the technical, claims, transportation and underwriting functions of the company. He later transitioned into marketing, where he served as Manager of the Kano branch in 2000 and subsequently as Regional Controller for the Federal Capital Territory and Northern Region until April 2010.
In 2013, he was promoted to Deputy General Manager with oversight of the technical division. He later became General Manager (Marketing), coordinating marketing operations across the Northern Region. In 2021, he joined the board as Executive Director (Technical), a role he held prior to his latest appointment.
The leadership transition comes as Lasaco continues to position itself within Nigeria’s evolving insurance market, amid regulatory recapitalisation requirements and increased competition across life and non-life segments.
