How much competition does a tender for Financial & insurance services in Latvia face?
A median of 2 bids per procedure; 25% of procedures ended with a single bidder (420 awards with a bid count). National average for Latvia across all sectors: 11.2 bids.
Search open tenders in this sector · Country guide Latvia
The market norm in numbers
| Metric | Sector | National average | Sample |
|---|---|---|---|
| Bids per procedure (median) | 2 | 11.2 | 420 |
| Procedures with a single bidder | 25% | 12% | 420 |
| Awards to a repeat winner | 39% | 53% | 414 |
| Distinct winners | 43 | 7,394 | 420 |
| Awards to companies from abroad | 2% | 5% | 420 |
| Award relative to estimate (median) | – | 88% | 0 |
| Bids from SMEs | 51% | 88% | 420 |
| Bids from abroad | 3% | 2% | 420 |
How to read these numbers
Of 32 sectors in Latvia with a bid count, Financial & insurance services ranks 26 for competition. A fifth to a third of procedures have one bidder — a bid pays off even without the best price. 39% of awards went to companies that had already won with the same buyer — buyers switch often here.
Other sectors in the same country
- Medical equipment & pharma8 · 6,162
- Construction work5 · 2,830
- Agricultural services57 · 2,637
- Architecture & engineering5 · 2,214
- Petroleum & fuels4 · 1,472
- Food & beverages4 · 1,424
- Repair & maintenance4 · 1,297
- Cleaning, environment & waste3 · 1,260
- Transport equipment3 · 1,077
- IT services29 · 957
- Business services4 · 814
- Laboratory & optical equipment3 · 654
Frequently asked questions
How many bidders does a tender for Financial & insurance services in Latvia get?
A median of 2 bids per procedure, measured on 420 awards with a bid count since 2023. 25% of procedures had a single bidder.
How often does the incumbent win in Latvia?
39% of awards in Financial & insurance services went to a company that had already won with the same buyer.
Do foreign companies stand a chance in Latvia for Financial & insurance services?
2% of awards went to companies based outside Latvia.
What share of the estimate does the winner get in Financial & insurance services?
The sample in this sector is not large enough yet.
Where the numbers come from
From the documented awards of every portal we read (TED and the national portals), aggregated every night. Bid counts come from the award notices themselves (TED BT-759, PLACSP, OCDS, Hilma, ANAC); incumbency counts whether the winner had won with the same buyer before; abroad means the winner's country differs from the buyer's. Metrics below the minimum sample are not shown.
As of 25/10/2026 · n = 420