Overview

In 2007/2008 the CPC conducted six cartel investigations in different sectors. In five of the cases the CPC
imposed fines for price fixing and exchange of sensitive commercial information. Only one of the decisions was upheld and is now binding. This concerned the CPC’s decision in the insurance sector by which the CPC levied the highest fine ever of some EUR 1 mln (the maximum possible fine under the competition act then in place) on fourteen Bulgarian insurance companies and the Bulgarian Association of Insurance Companies (the Association) for signing a memorandum within the association purporting to fix prices.

Other decisions were overturned, mainly because the CPC failed to provide sufficient evidence. The proceedings are
now pending before the appellate body of the SAC.