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VHI dominates the Irish health insurance market. Alamy Stock Photo
Bill of Health
Health insurer VHI doubled its surplus in 2025 (when it hiked premiums twice)
The state-owned company said it will reinvest its surplus in services to its members.
IRELAND’S BIGGEST PROVIDER of private health insurance, VHI, almost doubled its surplus after tax to €71.2 million last year.
The increased profitability came at a time when the company hiked premiums twice – by 3% in October 2025 and by 3% in March 2025 – citing increases in both demand for healthcare and in the cost of delivering healthcare.
VHI increased its premiums again last month.
The company dominates the Irish private health insurance sector with 48% market share. It is a commercial state body under the aegis of the Department of Health so it reports a surplus rather than profits. Announcing its financial results today, it said all surplus generated will be reinvested in its services and in the delivery of healthcare.
VHI took in 7% more in premiums in 2025 compared with 2024, with gross earned premium rising to to €1.97 billion. It paid out more in claims too – a 6% increase to €1.83 billion.
The price of private health insurance is consistently rising in Ireland, with Laya, Irish Life and new entrant Level Health all raising premiums recently.
VHI chief executive Brian Walsh predicted today that demand for healthcare will continue to rise, driven by factors including demographic change and chronic disease.
An additional 12,000 people took out private health insurance with VHI last year, bringing the total to 1.23 million.
VHI’s income from international health, travel, dental and life insurance also increased.
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