Ingo Armenia and Cascade Insurance have announced the launch of merging process.

“With our deal, insurance market acquires a large company with vast professional potential providing insurance services on a global level,” Ingo Armenia CEO said.

Refraining from announcing ‘price’ of the deal, Levon Altunyan noted that it is expected to be finalized by the end of 2012 first quarter.

He further said that as a result of the merger a solid financial base will be established, as well as a broad agency network of professionals will be formed providing quality service.