The new private health insurance company that entered the market today promised to challenge the lack of competition in the industry.

The VHI has questioned the motives of a new health insurance firm that entered the Irish market today.

Ireland's newest private health insurance company has vowed to offer policies to customers at significantly lower prices than those offered by the VHI and BUPA.

AIB today announced that it is taking a 30% stake in Vivas Health, a new privately-owned health insurance company, which plans to launch immediately.

A new entrant into the Irish health insurance market is due to be launched later today.