Irish Life Health profit surges 84% to €31.1m as premium increases drive sixth straight year of growth

Irish Life Health has reported an 84% jump in net profit to €31.1 million for 2025, joining fellow health insurer Vhi in near-doubling its earnings as a series of premium increases across the Irish private health insurance market drove revenues sharply higher amid rising claims costs.

According to The Irish Times, the result marks the company's sixth consecutive year of profitability. Insurance revenues, comprising mainly premiums, rose 10.3% to €655.2 million, with premium income up 7% driven by customer growth and higher average premiums. The company raised coverage plan costs three times during the year.

Irish Life Health paid out €590 million in hospital and day-to-day claims and benefits in 2025, an increase of 11.3% on the previous year. Customer numbers grew by almost 200 to 515,328, giving the company a 20.2% share of the Irish health insurance market according to the Health Insurance Authority.

The company said its profits reflect broader market conditions. "Operating profits were also positively impacted by a number of one-off items, including legislative changes relating to the risk equalisation scheme" the State's longstanding subsidy mechanism for older and higher-risk policyholders.

Investment returns from government and corporate bonds and money market funds contributed a further €4.2 million profit.

The result sits within a wider picture of strong profitability across the Irish private health insurance sector. State-owned Vhi, which holds a 48.3% market share, reported a 96% jump in net profit to €71.2 million last year. Axa Ireland, which underwrote Laya Healthcare's policies for the first time in 2025, recorded gross written health premiums of €672 million. Laya holds a 27.9% market share.

Read the full breakdown of Irish Life Health's 2025 financial results.