Yerevan, November 2 /Mediamax/. By the decision of the Central Bank of Armenia, the license of “Grand” Ltd. for non-life insurance is revoked.

As Mediamax was told in the CB press service, the decision was made “in connection with the violation of the laws and other legal acts” by “Grand” Ltd..

From the moment of the decision coming into force, “Grand” OJSC is deprived of the right of realizing insurance activity.

Mediamax recalls that in December of 2006, the CB Board revoked the license of “Grand” Ltd. for life insurance, and in April of 2007, suspended the license of non-life insurance of “Grand” Ltd.