MIKHAIL BAGHDASAROV: ISG INSURANCE COMPANY HAS BEEN CLOSED, BUT NOT SOLD
PanARMENIAN.Net
May 11, 2011 – 15:13 AMT
Owner of Armavia air company Mikhail Baghdasarov said ISG insurance
company has shut down, but not sold.
Armenian RASCO and ISG insurance companies agreed on merger, while
the Central Bank of Armenia gave its preliminary consent to the deal.
Under the agreement between the two companies, ISG’s insurance
portfolio will be transferred to RASCO company, while ISG will be
liquidated as a result of the deal.
The rating of Armavia air company has raised, and now it insures
directly in England, Baghdasarov told journalists on May 11 in
Yerevan. Thus, there was no longer need in ISG and it has been closed.
ISG was founded by Mika Limited company, while insurance of aviation
risks made major part of the company’s portfolio.