BUPA to create 40 jobs in €1m investment

HEALTH insurer BUPA, which is currently resisting attempts to force it to subsidise rivals VHI, has announced a €1 million investment and the creation of 40 jobs at its Irish headquarters in Fermoy, Co Cork.

The announcement made yesterday came as a welcome shock to the people of the north Cork town, especially as only days ago the company threatened it might pull the plug on its Irish operations because of the Government’s plans to implement risk equalisation in the industry.

Risk equalisation would mean health insurers with predominantly younger clients, like BUPA, would have to subsidise VHI, whose client-base would be older and therefore a greater risk.

On February 7, BUPA will go to court to challenge the risk equalisation concept. Until the outcome of that case is decided, BUPA will not have to compensate VHI.

The 40 jobs to be created in Fermoy come through the arrival of a new subsidiary company, BUPA Member Services.

This will provide pre-authorisation and transaction services for BUPA’s corporate group scheme members in Britain.

BUPA Ireland managing director Martin O’Rourke said: “We are delighted to have secured the location of such high calibre posts here in Ireland. We have consistently grown our businesses over the last 10 years and it is quite a coup to have won these jobs for Fermoy.”

The new jobs will bring the total workforce at BUPA’s Mill Island offices in Fermoy to nearly 300.