Two premium price hikes help to nearly double VHI's annual surplus

In total, VHI generated €1.972bn in gross earned premiums during 2025, and paid out just under €1.84bn in healthcare claims

VHI increased its prices by an average of 3% in March and October last year with a further increase of 3% announced for March this year. File picture

Health insurance firm VHI saw its annual surplus in 2025 nearly double after twice increasing prices during the course of the year which helped to drive up its premium income by €136m, its latest financial results show.

The company raised its prices in March last year by an average of 3% and followed up with a subsequent increase in October which added another 3% on average to customers' premiums. The company also announced a further increase in premiums of 3% in March of this year but that is not included in these latest set of results.

In total, VHI generated €1.972bn in gross earned premiums during 2025 — an increase of €135m compared to 2024. Of that, it paid out just under €1.84bn in healthcare claims during the year — up by €100m from €1.74bn the year prior. 

The company recorded 1.23 million healthcare customers in 2025 — a marginal increase of around 12,000 compared to 2024.

All this means, the company recorded an after-tax surplus of €71.2m last year, almost double the €36.3m recorded in 2024.

In 2025, VHI paid claims totalling €366m in relation to cancer care, €315m relating to orthopaedic care, and €292m relating to cardiac care. It claimed to have delivered more than 603,000 healthcare interactions over the course of the year.

Income from VHI’s multiline portfolio, which includes International Health, Travel, Dental and Life insurance, increased to €33m, from €31m in 2024. The company also has capital and reserves of over €1bn as of the end of 2025.

Chief executive of VHI, Brian Walsh, said healthcare demand in Ireland will “continue to rise, driven by demographic change, chronic disease and healthcare innovation”.

“VHI exists solely for the benefit of members, and our capital position enables us to plan for member needs and deliver access and better healthcare for our members. We are focusing on prevention, early intervention, digital access and community-based services so we can continue to meet our members’ healthcare needs for generations to come,” he said.