Regulatory Alerts2025-07-15 | 8701Central Bank of Armenia Grants New Insurance License to Nairi Insurance for Aircraft and Liability Classes
The Central Bank of the Republic of Armenia issued Resolution No. 116 A to grant Nairi Insurance Limited Liability Company a new activity license for Aircraft Insurance and Liability Insurance Arising from the Use of Aircraft. This decision follows applications submitted by the company between May and July 2025 and a positive conclusion from the Licensing and Supervision Committee. Concurrently, the regulator modified the company's existing Non-Life Insurance Activity License to incorporate these newly authorized classes, with the resolution entering into force upon signing.
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Board-decisions
On Granting a New Classes Insurance Activity License to “Nairi Insurance”, an Insurance Limited Liability Company, and Modifying the Company’s Activity License for Non-Life Insurance
2025-07-15
THE CENTRAL BANK OF THE REPUBLIC OF ARMENIA
July 15, 2025; No. 116 A
On Granting a New Classes Insurance Activity License to “Nairi Insurance”, a n Insurance Limited Liability Company, and Modifying the Company’s Activity License for Non-Life Insurance
Pursuant to Article 20 (“jf”) of the Republic of Armenia Law “On the Central Bank of the Republic of Armenia”; and Article 159 of the Republic of Armenia Law “On Insurance and Insurance Activities”; and Chapter 6 of the Central Bank Regulation 3/01 “Procedure on Licensing, Registration; Granting Consent and Permission; Appraising the Professional Integrity and Qualification in the Insurance Sector” as approved under the Republic of Armenia Central Bank Board Resolution No. 344-N, dated October 30, 2007;
Whereas on May 19, 2025, June 13, 2025, June 19, 2025, and July 3, 2025 “Nairi Insurance”, an Insurance Limited Liability Company, applied to the Central Bank of the Republic of Armenia with a request to seek a new classes insurance activity license; and
In view of the conclusion issued by the Licensing and Supervision Committee of the Central Bank of the Republic of Armenia (Minutes No. 31, dated July 9, 2025),
the Board of the Central Bank of the Republic of Armenia
E n a c t s:
Grant an Activity License to “Nairi Insurance”, an Insurance Limited Liability Company, for carrying out insurance in new classes, as follows: “Aircraft Insurance” and “Liability Insurance Arising from the Use of Aircraft (including Cargo Carriers)”.
Modify the Activity License (APO no. 0006) granted to “Nairi Insurance”, an Insurance Limited Liability Company, for carrying out a Non-Life Insurance, in connection with issuing an activity license in the classes as provided for in operative clause 1 of this resolution.
This resolution to enter into force on the day it is signed.
Martin Galstyan Governor,
Central Bank of the Republic of Armenia
c. Yerevan
.