They have said this is down to the sustained increase in both the volume and costs of healthcare claims.

Just over half (51 per cent) of the population said they currently have health insurance, down 4 per cent since 2021

Subject to regulatory approvals, the new business plans to begin offering private health insurance in the second half of 2024

VHI has confirmed it will axe four of its popular policies from May 1st

Around one in 10 of all VHI customers will be affected by the move, according to estimates

The move by the State’s largest health insurance provider is set to leave some families worse off by around €300 a year

The consistent high level of profits at the insurance provider persuaded French insurance giant, AXA Insurance to pay out €650 million to AIG subsidiary, Corebridge Financial for Laya Healthcare in August of the year