VHI Healthcare reports €65m after-tax loss

VHI Healthcare has reported an after-tax loss of €65m for the 10 months up to the end of December last year.

The figure marks a complete turnaround from the almost €63m worth of profit reported by the company at the end of February 2008.

VHI says last year's deficit was caused largely by investment losses totalling €43m.

Announcing the results today, chief executive Jimmy Tolan said the company would need more equity if the Financial Regulator continued to insist on a 40% solvency rate.