VHI pays €100k to firm for ex-chief’s advice

The VHI struck a six-figure deal with a private consultancy firm so it could benefit from the advice of its former chief executive who resigned from his post last year.

It is understood that the arrangement allowed for the former VHI chief executive, Jim Tolan, to be available to the company for one day a week in a deal worth an estimated €100,000 plus Vat.

Mr Tolan decided to leave the VHI in May 2011 after working there for more than three years on a remuneration package of €525,000 a year.