State-owned health insurer VHI slipped into the red last year as the cost of claims jumped by 18 per cent and and it experienced higher labour and energy costs and a strong increase in demand for healthcare services.
It took in €1.68 billion in premiums for its private health insurance business with its customer base increasing for the ninth year in a row. Almost 1.7 million people have cover with the company across its range of products. The insurer has announced a series of price increases in recent months and it said they were necessary and came in the wake of net price reductions from 2020 to 2022.
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