Laya returns records €5m pre-tax profit

The country’s second largest health insurer, Laya Healthcare, last year returned to profit to record pre-tax profits of €4.99m.

Accounts lodged by Laya Healthcare Ltd — formerly Quinn Healthcare Ltd — show that the firm recorded a pre-tax profit of €4.99m last year, following a €2m loss in 2011, a positive swing of €6.9m.

The turnaround in the Cork-based firm’s fortunes was on the back of increased revenues with income up 44% from €23.4m to €33.75m as members increased by 5.5% from 450,000 to 475,000 since launch.