Health insurer Dôvera paid €18m fines over its 2009 merger with Apollo

Health insurer Dôvera, owned by Penta, had to pay €18m following decisions by tax authority FR, including €3m as a 2022 fine and €15.4m in back taxes for 2016-20. The fine relates to a 2009 merger with rival Apollo, during which Dôvera valued its client portfolio at €485m and reported an accounting profit over €400m. Healthcare authority ÚDZS commissioned an expert opinion under the previous OĽaNO-led government that valued the portfolio at just €26m. Although ÚDZS withdrew its objections after the current cabinet took office, tax authority FR still maintains the valuation was unrealistic and refuses to recognize the portfolio's depreciation. Dôvera challenged FR decisions in court but had to pay the fines. It recently announced a merger with competitor Union, claiming the transaction will now be structured differently without fictitious profits.

(sme.sk)