Pashinyan discusses GRAWE`s  potential entry into Armenian insurance  market

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.)