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The GRAWE Group and the CQ Investment Group have jointly acquired 100 % of LIGA Insurance Company. Of this, 75 % of the shares are held by the GRAWE Group and 25 % by the CQ Investment Group. With this acquisition, the two renowned European financial players mark an important milestone in their international growth strategy. By strategically entering the Armenian market, they expand their presence in the Caucasus region.
LIGA Insurance Company is one of the leading players in the Armenian insurance market and is distinguished by a comprehensive portfolio of insurance products and services offered nationwide.
Through the acquisition, LIGA Insurance gains access to two financially strong corporate groups with international expertise and modern operational know-how, further strengthening the company's market position.
With LIGA Insurance as its 20th subsidiary and activities now spanning 14 countries in Central, Eastern, and Southeastern Europe, the GRAWE Group emphasizes its position as an internationally operating Austrian corporate group and sets a clear signal for sustainable growth.
CQ Investment Group, Austria's largest independent asset manager, operates in 21 countries across Europe and Asia and has been successfully managing pension funds in Armenia for over a decade. C-Quadrat (CQ) stands for award-winning asset management and many years of experience in the region. Together with the GRAWE Group, the success story of LIGA Insurance will continue under new leadership with a clear focus on innovation and professionalism.
This acquisition marks a significant advancement for the Armenian insurance market and highlights the growing attractiveness of the country for international investors. European insurance standards and advanced risk management practices are promoting the sustainable development of the Armenian financial sector.
“Entering the Armenian insurance market is a significant step in our group expansion – we are delighted to be able to contribute to the economic development of this emerging country and will bring our experience of close to 200 years in insurance and finance to bear,” said GRAWE CEO Klaus Scheitegel.
Photo (f.l.t.r.): Vahagn Aghavelyan (Board Member LIGA Insurance); Andreas Wimmer (Group Managing Director CQ Investment Group) Martin Galstyan (Governor Central Bank of Armenia); Mag. Klaus Scheitegel (GRAWE CEO/Generaldirektor) und MMag. Paul Swoboda (GRAWE Board Member/Vorstandsdirektor); Arman Vardanyan (Board Member CQ Armenia) Photocredit: GRAWE
Enquiries:
Mag. (FH) Karin Taferner-Bauer | Head of Communications and Marketing | Grazer Wechselseitige Versicherung AG | Telefon: 0316/8037-6430 | E-Mail: [email protected]
