Life insurance as a strategic growth area for LIGA Insurance

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.