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INSIG privatisation re-launched

26. January 2016

The government is selling all INSIG shares for €15.3 mln

The Ministry of Economic Development and the Ministry of Finance have submitted with the Public Procurements Agency the application for the holding of an open bidding procedure on the sale of INSIG, the state-owned insurance company in Albania. The government is selling all INSIG shares for €15.3mln, and this is its sixth attempt to sell the insurer that has been losing market steadily to private rivals.

Local and foreign companies can obtain the tender documents detailing the terms of the sale and the balance sheets of the company for the last three years from Tuesday until 9 March. The law favours the highest bidder. The interested candidates must present their bids in person at the Ministry of Finance on 10 March 2016, the Public Procurements Agency announced on its website.