Austria-based Grawe Group and C-Quadrat Investment Group have jointly acquired 100% of Armenian insurance company Liga Insurance, according to Central Bank of Armenia (CBA) President Martin Galstyan. This marks the first entry of an internationally recognized insurance provider — Grawe Group — into the Armenian market, while C-Quadrat has been active locally for years as a pension fund manager.
Galstyan emphasized that this is a significant development, noting the firms will bring new expertise and culture to Armenia’s insurance sector. The transaction is still subject to CBA approval and licensing.
Both firms intend to enter the life insurance sector. Galstyan clarified that life insurance isn’t just about covering death but also involves managing investment funds for policyholders as they reach retirement age. He noted that life insurance is closely tied to investment activity.
This development coincides with Armenia’s plan to launch mandatory health insurance in 2026, to be fully implemented by 2028. The system will initially cover employees earning over 200,000 AMD monthly and include a 129,600 AMD insurance package covering preventive care, screenings, medications, and emergency services.
