August 13 (SeeNews) - Bulgaria's competition regulator said that it has suspended the 18.7 million levs ($11.0 million/9.6 million euro) tender of state-owned railway company BDZ Passengers for insurance of its rolling stock and properties at the request of local insurer OZK.
The suspension of tender will not negatively affect the interests of BDZ Passengers, especially having in mind the short period of time, in which the regulator has to issue its ruling on the complaint submitted by Sofia-based OZK Insurance, the Commission for Protection of Competition said in a statement on Friday.
In its complaint, OZK Insurance objects to the minimum requirement for a turnover of 1 million levs from insurance of rolling stock in the past three full years.
According to OZK, only two of the local 39 insurers active in the segment meet that requirement - Generali and Bulstrad Vienna Insurance Group.
The regulator's decision can be appealed before the Supreme Administrative Court within three days from receiving notification.
OZK Insurance filed its complaint on July 26 and the regulator opened proceedings on July 27.
(1 euro = 1.95583 levs)
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