Vhi reports 96% surge in net surplus as Irish health insurance membership hits 11-year growth streak

Ireland's largest health insurer Vhi has posted a near-doubling of its net surplus for 2025, reflecting sustained membership growth and a strengthened capital position, even as healthcare costs and policy pricing continued to rise across the private health insurance market.

According to RTÉ, Vhi recorded a surplus after tax of €71.2 million for the year ended December 2025, up from €36.3 million the previous year. Total healthcare costs paid out by the insurer rose to €1.838 billion from €1.738 billion in 2024, underscoring the scale of demand being absorbed across its member base.

Membership climbed by more than 12,000 to exceed 1.23 million, marking the eleventh consecutive year of growth. The insurer also raised the price of its health insurance policies by an average of 3% from March, its third price increase within twelve months, following equivalent hikes in October 2024 and March 2025.

Capital and reserves increased to €1.040 billion at year end, up from €953 million in 2024, while the solvency capital ratio for the insurance business stood at 182%.

Group CEO Brian Walsh said demand for healthcare in Ireland will continue to intensify. "Vhi is shaping how these challenges are met, changing how and where care is delivered. Vhi exists solely for the benefit of members, and our capital position enables us to plan for member needs and deliver access and better healthcare for our members."

Walsh added that the organisation's strategic focus spans prevention, early intervention and digital access. "We are focusing on prevention, early intervention, digital access and community based services so we can continue to meet our members' healthcare needs for generations to come."

Read the full report for a detailed breakdown of Vhi's 2025 financial results.