New health insurer to shake up the market

With an estimated 6,000 people quitting private health insurance every month as they struggle to keep up payments, the timing of a new arrival in the Irish market is questionable.

Yet GloHealth, which becomes the fourth player in a shrinking market, hopes to capitalise on a growing need among a large number of people who want private health cover but feel they can’t afford it.

In that sense, yesterday’s launch of the company threatens to provide a welcome shake-up of a market that has seen annual premium increases (regularly in double digits) become the norm in recent times.