Achmea discloses awards of Arbitration Tribunals

Award December 2012
In 2007 the Slovak Republic introduced a number of measures which severely restricted the property rights of the owners of private health insurance companies. Subsequently, Achmea, owner of Slovak health insurer Union,  made strenuous efforts to engage the Slovak Republic in a meaningful dialogue and to settle the dispute that had arisen in an amicable manner. When these efforts failed, Achmea initiated an international arbitration procedure based on the Dutch-Slovak Bilateral Investment Treaty. The (ad hoc) International Arbitration Tribunal presented its Final Award on 7 December 2012. In the interest of transparency Achmea decided to disclose the award. (See downloads at the right.) 

Award May 2014
In 2012 The Slovak Republic decided to introduce a ‘unitary system’ featuring a single state-owned health insurance company. The existing private health insurance companies were to be taken over or, when their owners proved unwilling to sell, expropriated. The Slovak parliament approved a ‘roadmap’ with a timetable in November 2012. According to this timetable the ‘unitary’ state-owned health insurance company was to become operational on 1 January 2014 or, in case expropriation were required to get control over the private health insurance companies, 1 July 2014. Relevant legislation was to be enacted as of 1 May 2013. Faced with the imminent threat of expropriation, Achmea sought to protect its legitimate ownership rights by initiating an international arbitration procedure on the basis of the Dutch-Slovak Bilateral Investment Treaty. The (ad hoc) International Arbitration Tribunal presented its award on jurisdiction and admissibility on 20 May 2014. By that time the Slovak plans to take over or expropriate private health insurance companies had been shelved. In the absence of any expropriation act or any form of expropriation the Tribunal could take no other decision than to close the case and to declare that it had no jurisdiction. In the interest of transparency Achmea decided to disclose the award. (See downloads at the right.)