First experience in life insurance will stimulate development of this segment in Armenia – Central Bank Governor
04.02.2026,
11:25
LIGA INSURANCE will begin providing life insurance services in Armenia for the first time, and other insurance companies will follow suit, stated Martin Galstyan, Chairman of the Central Bank of Armenia, in response to a question from ARKA news agency.
YEREVAN, February 4. /ARKA/. LIGA INSURANCE will begin providing life insurance services in Armenia for the first time, and other insurance companies will follow suit, stated Martin Galstyan, Chairman of the Central Bank of Armenia, in response to a question from ARKA news agency.
On January 30, the Central Bank of Armenia approved the acquisition of 100% of the shares of LIGA INSURANCE by the Austrian company Grawe Group and the investment group C-Quadrat Investment Group. Grawe Group owns 75% of the shares of Armenia's LIGA Insurance, while C-Quadrat Investment Group owns the remaining 25%.
Galstyan called the deal a "brilliant example" of how, as a result of an acquisition by a reputable international player, an Armenian company gained access to best practices and expertise. According to him, this, in turn, will lead to a chain reaction and create a situation in which other insurers will also strive to provide the same services and at the same quality as the company that is the first to enter the life insurance sector.
The head of the regulator also reported that a package of legislative amendments to certain provisions of the Law "On Insurance" is already being prepared. This will allow companies with a single license to provide both life insurance and endowment life insurance.
"We will work on the idea of a universal license, i.e., so that the licensing of companies engaged in life and non-life insurance would not be separate, but rather a single universal license would allow a single business to operate in both areas," Galstyan said.
On January 30, the Central Bank of Armenia approved the acquisition of 100% of the shares of LIGA INSURANCE by the Austrian company Grawe Group and the investment group C-Quadrat Investment Group. Grawe Group owns 75% of the shares of Armenia's LIGA Insurance, while C-Quadrat Investment Group owns the remaining 25%.
Galstyan called the deal a "brilliant example" of how, as a result of an acquisition by a reputable international player, an Armenian company gained access to best practices and expertise. According to him, this, in turn, will lead to a chain reaction and create a situation in which other insurers will also strive to provide the same services and at the same quality as the company that is the first to enter the life insurance sector.
The head of the regulator also reported that a package of legislative amendments to certain provisions of the Law "On Insurance" is already being prepared. This will allow companies with a single license to provide both life insurance and endowment life insurance.
"We will work on the idea of a universal license, i.e., so that the licensing of companies engaged in life and non-life insurance would not be separate, but rather a single universal license would allow a single business to operate in both areas," Galstyan said.
