Staco Insurance PLC

InsuranceLagos, Nigeria201-500 Employees

Staco Insurance Plc is a Nigerian insurer headquartered in Lagos, operating in general insurance and risk-specific lines. It traces its origins to a 1994 reorganization of Alpha Insurance Plc, with earlier incorporation in 1991 and licensing to transact all classes of insurance. The company is owned by Nigerian investors and staffed by professionals with reputations for integrity, and it emphasizes prompt claims settlement.

Based in Lagos, the company rests on a set of core values including professionalism, integrity, and social responsibility. Strategically, it aims to retain and grow its client base, broaden cross-selling, improve claims settlement, expand product reach, and introduce at least one new, distinctly different product each year. A leadership change in 2022 saw Wale Banmore assume the role of managing director and chief executive officer.

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