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Dec 04, 2017 15:44 EEST
SOFIA (Bulgaria), December 4 (SeeNews) – Bulgaria’s financial regulator said it has revoked the licence of local insurer Trade Union Mutual Insurance Cooperative – TUMICO.
The license has been revoked as the company does not cover the minimum capital requirement and the solvency capital requirement, the Financial Supervision Commission said in its decision published on Friday.
The financial regulator has appointed two administrators at TUMICO to run the company until a court appoints a receiver.
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