Nigeria, Feb. 3 -- Lasaco Assurance fell into lossmaking position in 2025 as the significant foreign exchange gains that boosted profit the year before faded out, and insurance service result turned negative for the second year running.

The life and general insurance provider recorded no FX gains for the year as the dollar-to-naira exchange rate witnessed substantial stability, unlike in 2024, when a much weaker naira enabled the company to earn as much as N3.2 billion in currency gains.

That change in circumstance set the underwriter on the path of a N3.1 billion post-tax loss, compared to an after-tax profit of N1.5 billion a year earlier.

Its unaudited earnings report released on Tuesday showed insurance revenue was up by 31.4 per c...