Immediate solvency ‘will force VHI to lose not-for-profit status’

VHI has warned that if the EU forces it to abide by the same rules as other health insurers it will have to cease to be a not-for-profit company.

Internal Market Commissioner, Charlie McCreevy, has written to the Irish Government saying the VHI should adopt solvency rules immediately.

The VHI, which provides over 80% of Ireland’s health insurance cover, has five years to build up reserves of about €370 million.