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Baghdasarov announces about the closure of insurance company “A.S.G.” but not its sale

12.05.2011 15:22

Baghdasarov announces about the closure of insurance company “A.S.G.” but not its sale

YEREVAN, May 12. /ARKA/. Well-known entrepreneur Mikhail Baghdasarov denied the information of selling the insurance company “A.S.G.” of the company “Rasco” owned by him, writes the newspaper “Hayots Ashkhar” (Armenian World).

“Rating of national airline - the company “Armavia” increased and insurance now is implemented in English language. That is why there is no need to have an Armenian company. We just closed it but not sold”, said Baghdasarov.

He explained that “A.S.G.” Ltd. “had not large insurance portfolio” which was transferred to “Rasco” Ltd. due to its closure. There are more insurance companies in the Armenian market, than subjects due to insurance.

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