He noted that this transaction will enable launch of new insurance products, European standards in insurance, and customer experience. In this regard, as stated by Martyn Galstyan, Chairman of the Central Bank of Armenia, discussions are planned in the National Assembly of Armenia to amend the Law on Insurance, which would allow a single license for companies to provide both life and non-life insurance products.
Vahagn Agavelyan also added that one more LoB will appear on the insurance market – small and medium-sized business insurance. "From a tactical perspective, there is a serious gap in small and medium-sized business insurance. We have retail insurance for individuals and corporate insurance for large enterprises", he said, pointing to a significant potential of the small and medium-sized business sector. Agavelyan stated that LIGA Insurance is preparing to enter this niche.
On November 25, 2025, it was reported that GRAWE Group (Austria) and C-Quadrat Investment Group (Austria) announced their intention to acquire 100% of LIGA Insurance, marking a significant milestone for the Armenian insurance market. On January 30, 2026, the Central Bank of Armenia approved the transaction.
LIGA is one of the leading insurance companies in Armenia, offering a wide range of insurance products and services throughout the country. According to the Financial Rating of Armenian Insurance Companies as of September 30, 2025, prepared by ArmInfo, LIGA Insurance's assets amounted to AMD 16.8 billion (2nd on the market), equity – AMD 7.5 billion (1st place), GWP – AMD 9.5 billion (4th place), paid claims – AMD 5.7 billion (2ndplace). LIGA Insurance ended the first nine months of 2025 with a net profit of over AMD 578 million (ranking 3rd), the source added.
*EUR 1 = AMD 449.38 (as of September 30, 2025)
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