BUPA threatens to leave Irish market

BUPA yesterday dramatically warned that it will take an “unequivocal decision” to immediately withdraw from the Irish market if risk equalisation goes ahead.

The private health insurance company told the High Court that if risk equalisation was triggered on January 1, it would mean that the company would have to pay about €161 million to the VHI during the two to three years it would take for its legal challenge to run its course.

BUPA claimed that this figure would be almost €100m more than its estimated profits of €64m during the same period. The company warned it would have no option but to pull out of the Irish market with immediate effect.