Spanish insurer Santa Lucía SA is requesting an extension of the bidding process for Caser Seguros as it missed the original Dec. 3 deadline, Expansión reported.

The paper said the insurer had written a letter to all parties involved in the bid to ask for a delay in the process so it could present its offer.

Santa Lucía is competing with Belgium's Ageas SA/NV and Switzerland's Helvetia Holding AG for the insurer, valued at up to €1.2 billion.

Expansión said Dutch insurer NN Group NV, which had been interested in bidding for Caser, had, in the end, not made an offer.