Vhi responds to Quinn comments

Vhi Healthcare has today responded to accusations by Sean Quinn of Quinn Healthcare that Vhi enjoys an “anti-competitive and dominant position” which is “being reinforced by the Government”.

The state insurer said that it welcomed Quinn Healthcare's announcement that it had completed the takeover of BUPA Ireland's business and looked forward to competing with the firm.

“We are disappointed however,” the company said in a statement, “that they are repeating the tired and discredited BUPA mantra on risk equalisation.”

“This is a community-rated market and there is no place for those that are not prepared to contribute to the community risk. Healthcare is more important than profit.”

“Vhi Healthcare remains far and away the most efficient health insurer in the market and continues to offer the widest range of health insurance products - providing better benefits and covering 15 more hospitals than Quinn Healthcare.”

“Vhi Healthcare provide a wider choice of cover and better value for money than Quinn Healthcare.

“Health insurance is about providing cover for your members when they get ill, promptly. Vhi Healthcare members know that when they need us we are there.

“Vhi Healthcare is a not-for-profit, membership-based organisation and continues to grow year on year.

“We have no shareholders to answer to and premiums are quite simply set to cover the cost of our members' healthcare needs.”