ArmInfo. Issues regarding the possibilities of the GRAWE company entering the Armenian insurance market were discussed during a meeting in Yerevan between Armenian Prime Minister Nikol Pashinyan and a delegation including Klaus Scheitegel, Chairman of the Board of the Austrian insurance group GRAWE (Grazer Wechselseitige Versicherung AG), and Andreas Wimmer, Managing Director and Chairman of the Supervisory Board of the C-Quadrat Investment Group.
According to the press service of the Armenian Prime Minister, the head of the Armenian government emphasized the importance of attracting reputable international companies to the insurance sector and the consistent development of this sector. Pashinyan noted the Armenian government's readiness for constructive cooperation and discussion of further steps. The Prime Minister also highlighted the effective activities of the C-Quadrat investment group in the country.
Scheitgel presented GRAWE's activities in various countries and noted that the company is also interested in entering the Armenian insurance market. He added that the company is effectively cooperating with the Central Bank of the Republic of Armenia and is willing to continue discussions on the implementation of investment programs. Issues related to further cooperation were also addressed.
On December 4, 2025, at a government session, the head of the Central Bank of Armenia, Martin Galstyan, announced that the Austrian company GRAWE Group and Germany's C-Quadrat Investment Group had reached a mutual agreement with the Armenian insurance company Liga Insurance to acquire 100% of the company's shares. He added that the planned transaction represents the renowned international insurance group's first entry into the Armenian market.
GRAWE Insurance Company is one of the oldest and most stable financial concerns in Austria, with a nearly 200-year history. The company was founded in 1828 by Archduke Johann as a mutual fire insurance company. Today, it is an international holding company uniting insurance companies, banks, and real estate agencies. The group is one of the five largest insurance concerns in Austria. It operates in 13 countries in Central, Eastern, and Southeastern Europe, including Austria, Ukraine, Moldova, Slovenia, Croatia, Hungary, Serbia, Bulgaria, Romania, and Cyprus. Its directions of business include life insurance (cumulative insurance), accident insurance, property insurance, motor insurance (OSAGO/CASCO), health insurance, and pension insurance. The company owns its own banking institutions, such as Schelhammer Capital Bank AG. Furthermore, the group manages properties covering over 2.7 million square meters and is involved in development.
The solvency ratio at the end of 2024 was 313.8%, three times higher than the legal requirement (100%). In 2024, pre-tax profit reached 69.6 million euros in Austria and 195.7 million euros for the group as a whole. Martini.ai assigns the company a B1 rating, reflecting moderate credit risk and high stability. Specific operations in the CIS: the subsidiary GRAWE Ukraine has been operating since 1998, offering life insurance and non-life insurance programs. In Moldova, it is represented by GRAWE CARAT, a leader in the local market.
C-Quadrat Investment Group, headquartered in Vienna and London, is a leading independent asset management company with a global presence, known for its extensive investment experience and long-term focus on the Central and Eastern European markets, as well as its expertise in managing the assets of institutional investors. Through its subsidiary, C-Quadrat Ampega Asset Management Armenia, C-Quadrat Investment Group has been successfully operating in Armenia for over 10 years as the management company for the Armenian pension system.
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 Investment Company, LIGA Insurance's assets amounted to 16.8 billion drams (2nd place in the market), equity capital amounted to 7.5 billion drams (1st place), insurance premiums amounted to 9.5 billion drams (4th place), and insurance indemnities amounted to 5.7 billion drams (2nd place). LIGA Insurance's net profit for the first nine months of 2025 exceeded 578 million drams (3rd place). (The calculated exchange rate of the dram against the US dollar on September 30, 2025 was AMD 382.52/$1 - Ed.)
