Regulatory Alerts2025-09-29 | 9017Resolution on Granting Non-Life Reinsurance License to SIL Insurance
The Board of the Central Bank of the Republic of Armenia issued Resolution No. 172 A to grant a license for the "Non-Life Reinsurance" class of "Reinsurance" type to SIL Insurance Insurance Closed Joint-Stock Company. This decision follows applications submitted by the company on 27 August and 12 September 2025 and is based on the conclusion of the Licensing and Supervision Committee's Protocol No. 41 dated 17 September 2025. The resolution enters into force on the day following its delivery to SIL Insurance or its authorized representative.
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ON GRANTING A LICENSE FOR “NON-LIFE REINSURANCE” CLASS OF “REINSURANCE” TYPE TO “SIL INSURANCE” INSURANCE CLOSED JOINT-STOCK COMPANY
2025-09-29
B O A R D O F T H E C E N T R A L B A N K O F T H E R E P U B L I C O F A R M E N I A R E S O L U T I O N 29 September 2025, No. 172 A ON GRANTING A LICENSE FOR “NON-LIFE REINSURANCE” CLASS OF “REINSURANCE” TYPE TO “SIL INSURANCE” INSURANCE CLOSED JOINT-STOCK COMPANY
Guided by point "p" of Article 20 of the Law of the Republic of Armenia “On the Central Bank of the Republic of Armenia”, Article 159 of the Law of the Republic of Armenia “On Insurance and Insurance Activities”, and Chapter 6 of Regulation 3/01 "On Procedures for Licensing, Registration, Granting Consent and Permission, Appraisal of Professional Adequacy and Qualification in the Insurance Field" approved by Resolution No. 344-N of the Board of the Central Bank of the Republic of Armenia dated 30 October 2007; Taking into account that “SIL INSURANCE” Insurance Closed Joint-Stock Company applied to the Central Bank of the Republic of Armenia on 27 August 2025 and 12 September 2025 regarding the mediation to obtain a license for “Non-Life Reinsurance” class of “Reinsurance” type; Based on he conclusion of the Licensing and Supervision Committee of the Central Bank of the Republic of Armenia (Protocol No. 41 dated 17 September 2025), the Board of the Central Bank of the Republic of Armenia hereby:
R E S O L V E S:
- To grant a license for “Non-Life Reinsurance” class of “Reinsurance” type to “SIL INSURANCE” Insurance Closed Joint-Stock Company.
- This Resolution shall enter into force on the day following the date of its delivery to “SIL INSURANCE” Insurance Closed Joint-Stock Company or its delivery to the person authorized by “SIL INSURANCE” Insurance Closed Joint-Stock Company in accordance with the established procedure.
Deputy Governor of the Central Bank of the Republic of Armenia Hovhannes Khachatryan
Yerevan
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