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Solvency and Financial Condition Report (SFCR) & Archive

Annual Reports

Vhi paid a record €1.68bn meeting the healthcare needs of its members in 2023 - claims up by 18% on previous year

Unprecedented levels of claims volumes and continued cost pressures contribute to a financial deficit in 2023

PMI membership grew for the ninth consecutive year in 2023

April 5th, 2024: Vhi Group today announced its annual results for the financial year 2023. The Company recorded €1.68bn premium for its private health insurance business, reflective of strong growth in membership which increased by over 37,000. This is the ninth consecutive year of growth in private medical insurance (PMI) membership.

Vhi recorded €29.9m in income on Vhi’s other insurance products (2022: €27.5m), including travel, dental, life and international health insurance. In total, Vhi supported close to 1.7 million insurance members, comprising of over 1.2 million for private medical insurance and just under 480,000 for other insurance services.

In 2023, Ireland experienced a faster than anticipated recovery in demand for healthcare following years of restrictions in access and capacity associated with the pandemic. There was an unprecedented increase in the volume and cost of claims, and Vhi paid out over €1.68bn to meet the healthcare needs of its members, up 18% on 2022. The increase in demand together with high levels of medical inflation and higher labour and energy costs was not matched by a corresponding increase in premium income, resulting in a Net Deficit of €43.4m (2022: Net Surplus €34.3m).

Vhi is committed to delivering the very best in healthcare for members. It was necessary however to increase premiums in order to continue to meet the healthcare needs of members, as claims volumes and the cost of delivering healthcare increase. This premium increase followed net price reductions from 2020 to 2022 as well as return of value to members exceeding €450 million during the pandemic. Vhi is strongly capitalised with group capital reserves of €903m (2022: €949m) and a solvency capital ratio of 175% for its insurance business.  (Read More) 

See full press release dated 5th of April 2024 here



Vhi's 2023 annual report (English)


Vhi's 2023 annual report (Irish)

Gender Pay Gap Report

Protected Disclosures Report








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