ArmInfo. Following the acquisition of 100% of LIGA Insurance by Austrian powerhouses GRAWE Group and C-Quadrat Investment Group, the company is pivoting toward a major strategic expansion. Life insurance, a traditionally underdeveloped sector in Armenia, is set to become the primary engine of growth for the firm, as stated by Vahagn Aghavelyan, Deputy Executive Director of LIGA Insurance, during a press conference on February 3. He noted that this deal will introduce new insurance products, European standards in insurance, and a revamped customer experience.
In this regard, Chairman of the Central Bank of Armenia Martin Galstyan said that the National Assembly of Armenia is preparing amendments to the Law on Insurance, which will allow for the issuance of both Life and Non-Life insurance under a single license. "We're talking about a universal license. That is, we won't launch separate licensing processes for companies that will be involved in life and non-life insurance, but we'll have one universal license that will allow one specific business to operate across both sectors. I don't think this will require much effort or time, but it's work that needs to be done," he said. At the same time, Galstyan admitted that other market players will follow LIGA Insurance's example in the future.
Deputy Director Aghavelyan named another area that will be new to the market: small and medium-sized business insurance. "Tactically, 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 the great potential of the SME sector. Aghavelyan stated that LIGA Insurance is planning to enter this niche. "This is a rather complex and serious area in terms of clients, as our partners have confirmed, but we have specific projects and are preparing for this market," he concluded.
Recall, 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 company, which will be a significant milestone for the Armenian insurance market. On January 30, 2026, the Central Bank of Armenia approved the transaction.
