The Insurance Agency of Bosnia's Serb Republic said on Thursday that Naveen Aggarwal, the director of the Belgrade-based S&A Capital Investments, and another Indian national have submitted a request to acquire a stake in currently majority state-owned insurer Krajina Osiguranje.

A spokesperson for the Agency told SeeNews in an email that the request submitted by Aggaewal and another applicant is currently being processed.

On Thursday, news portal Capital.ba reported that Aggarwal had confirmed his interest in investing in the Serb Republic's only majority state-owned insurer, but added that he is yet to reach a final decision.

Aggarwal is quoted by Capital as saying that he is also looking into investing in other Bosnian businesses. Read the full story BOSNIA: Foreign investors eye stake in Krajina Osiguranje