VHI reports healthy profits after twice hiking premiums

State-owned health insurer VHI has reported a healthy profit after hiking its premiums twice in the last six months.

The company reported a net surplus of €56.4 million for 2016, compared with €45.5m the previous year and its improved reserves position of €558.2m is a 7% increase on 2015.

Total claims paid out last year totalled €1.34 billion, down slightly compared with €1.38 billion in 2015.