Failure to sell insurer would trigger a new crisis

THE state could find itself in even more financial turmoil if it is unable to sell VHI in the already volatile insurance market.

Speaking after the shock announcement that Ireland’s largest health insurer is up for sale, Permanent Health Insurance (PHI) Consulting managing director Dermot Goode warned that the Government move could potentially result in a serious financial hazards.

Mr Goode, an insurance analyst for over two decades, said the decision to put VHI on the market made sense in principle.