Vhi surplus drops to €34.3m as the cost of covering claims increases by 10%

Vhi added that a reduction in the value of its investment portfolio, as well as increased operating costs from investments in healthcare and technology, also impacted their yearly surplus. 

The company said the amount paid out in claims rose by 10% to €1.425bn compared to €1.295bn in 2021. 

Vhi’s surplus for last year were cut nearly in half as demand for healthcare services returned to pre-pandemic levels and the cost of covering claims increased, the company’s annual results show.

During the year, Vhi’s private health insurance business added 23,400 customers bringing their total to 1,177,600 which drove the increase in its gross income from premiums to €1.6bn from €1.59bn in 2021.