  Mikhail Baghdasarov: ISG insurance company has been closed, but not sold May 11, 2011 - 15:13 AMT PanARMENIAN.Net - 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.   Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion.   Partner news |  Latest news About 173 million drams and more than 30 beneficiary funds. "The Power of One Dram" is 4 years old  In June 2020, the exclusive joint corporate social responsibility initiative of Idram and IDBank "The Power of One Dram" was launched.Aliyev travels to Turkey at Erdogan's invitation On June 10, Azerbaijani President of Azerbaijan Ilham Aliyev will leave for Turkey on a working visit.CSTO budget “to be adjusted due to Yerevan’s non-payment of contributions” The CSTO budget for the current year requires adjustments due to the refusal of Yerevan to pay their share of contributions.Russia sends note of protest to Armenia over envoy’s trip to Ukraine’s Bucha Russia has sent a note of protest to Armenia over the visit of Vladimir Karapetyan and Tigran Ter-Margaryan to Bucha. |
