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Bulgarian regulator revokes Euroamerican Insurance's license

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Bulgarian regulator revokes Euroamerican Insurance's license

Bulgaria's Financial Supervision Commission revoked Euroamerican Insurance Co.'s license due to a gross violation of the insurance code, SeeNews reported.

The country's regulator also banned Euroamerican from using its assets to carry out operations and from signing new insurance contracts for six months, effective Dec. 17.

The regulator appointed Stefan Stefanov conservator until a liquidator is named.