Vivas reports loss of €3.6 million

HEALTH insurer Vivas made a loss of €3.6 million in 2005, its first full year of trading.

The company, which is backed by AIB and financier Dermot Desmond, generated premium income of almost €9.3 million, up on the €537,701 of business it wrote in 2004. The company began trading in October 2004.

A spokesperson for the company said the losses were associated with the heavy investment in its product and that it was on track to have 100,000 customers signed up by the end of this year.