Tue, 8 July
31.1 C
Yerevan
USD: 384.19 RUB: 4.90 EUR: 450.58 GEL: 141.45 GBP: 521.65

ISG Insurance Company Sold To RASCO

YEREVAN, May 11. /ARKA/. Mikhail Bagdasarov, a well-known entrepreneur, has sold his ISG insurance company to RASCO insurance company.

Grikor Ayvazyan, deputy director of the RASCO, said after confirming this information that the handover of ISG company’s insurance portfolio and liabilities to RASCO is under way now.

He said that the deal was sealed after negotiations.

“The central bank gave its preliminary permission for handover of ISG company’s portfolio, and the final deal will be registered after ultimate negotiations with preserving the norms set by the Central Bank of Armenia,” Ayvazyan said.

The ISG Ltd engaged mainly in insuring air carriages.

The company was registered on December 25, 2007. Its authorized capital amounts to AMD 1136 million.
The company’s assets totaled AMD 1.7 billion and liabilities AMD 610.1 million in late December 2010.
Its net profit for the second half of 2010 amounted to AMD 146.3 million.

RASCO Ltd was established on August 30, 2004. REGION investment and financial corporation holds 94.83% of the company’s shares.

RASCO company’s authorized capital amounts to AMD 968 million.

Its assets totaled AMD 2.2 billion and liabilities AMD 624.7 million in late December 2010. Its total capital exceeds AMD 1.5 billion.

The company sustained losses of AMD 13.9 million in the second half of 2010. ($1 = AMD 372.24). –0—

spot_img

POPULAR

Moody’s affirms Armenian government ratings at Ba3 with stable outlook

On June 26, 2025, Moody's affirmed the long-term issuer ratings in national and foreign currencies and senior unsecured debt in foreign currency of the Armenian government at Ba3, maintaining the stable outlook, the press service of the Ministry of Finance of Armenia reported.

Inflation of 3.9% registered in Armenia in June

In the consumer market of Armenia, 12-month inflation in June of this year amounted to 3.9%, according to the report of the National Statistical Committee (NSC) of Armenia.

Average settlement exchange rate of the dram to the dollar in June was 1% lower than a year ago

In June 2025, the average settlement exchange rate of the Armenian dram to the US dollar was 384.2 drams, which is 1% lower than the same indicator in June 2024 (388.1 drams).

Armenia takes first step toward regulating crypto assets

On Thursday, the National Assembly of Armenia approved in the second and final reading a draft law On Crypto Assets and amendments to a number of related laws.

Net inflow of remittances to Armenia from abroad increased by 13.9% over 5 months

The net inflow of private remittances in Armenia from abroad sent through the  banks in January-May 2025 amounted to $511.7 million, compared to $449.4 million in January-May 2024, according to a report by the Central Bank.

LATEST NEWS

spot_imgspot_imgspot_img