Central Bank of Cyprus launches insurance tender

The Central Bank of Cyprus (CBC) has officially launched tender number 19/2026, seeking insurance providers to secure coverage for its operations. This competitive process will be conducted in two distinct stages: an initial application phase followed by a negotiation phase involving selected qualified candidates.

The contracts will cover an initial period of three years, with a provision for the CBC to negotiate an extension for an additional three-year term. Evaluation of the proposals will prioritize the best price-to-quality ratio, with the technical offer accounting for 70 percent of the total score and the financial cost representing the remaining 30 percent. The tender is structured into separate insurance sections, permitting applicants to submit bids for individual parts or the entire range of requirements.

Interested financial entities are required to submit applications and the necessary supporting documentation in the first stage. Successful applicants meeting the participation criteria will then be invited to submit initial offers, which will serve as the foundation for the subsequent competitive negotiations.