Ban on profit may cost Slovakia almost € 750 million

Thursday, 13. December 2012, 13:35

If Slovakia would not succeed at domestic and arbitration courts, the state would have to pay the provisions of shareholders of health insurance companies almost € 750 million. That would be a bill for a Fico´s first government Act, which banned the profits to the shareholders. Slovakia has lost only one arbitration with the owner of the Health Insurance Company Union – Achmea company till now. Slovakia has to pay as compensation € 22 million and € 3 million for court costs. Together with the payments for advisory services of lawyers, the amount rises to more than € 40 million. Achmea originally asked for more than € 60 million, but the arbitral court admitted to Achmea € 20 milion.