Taoiseach welcomes Quinn group takeover of BUPA Ireland

The Taoiseach, Bertie Ahern has welcomed the Quinn groups' decision to remain a player in the health insurance market.

Yesterday evening Sean Quinn issued a statement confirming he is to go ahead with the takeover of BUPA Ireland.

The comments were made despite emergency legislation by the Government to close a loophole on risk equalisation.

The Taoiseach said the loophole had to be closed despite the fact that new entrants into the insurance market are normally entitled to three year's exemption from risk equalisation payments.

The Government said the legislation does not cover an existing operator has been taken over by a different company.