The Quinn Group has officially entered the Irish health insurance market with the completion of its takeover of Bupa Ireland's business.
The new company will be known as Quinn Healthcare and will continue to be based in Fermoy, Co Cork.
Quinn Healthcare has taken over all the existing operations of Bupa Ireland Ltd from where it will service its membership base of 440,000.
“We are very excited about entering the health insurance market and believe the acquisition of Bupa Ireland Limited gives us a fantastic platform to become the leading health insurer in Ireland. We are in the health insurance market for the long-term and will build on all of the elements of Bupa Ireland Ltd's success, particularly the extensive range of benefits and high standards of customer care. I would like to thank all our members for the loyalty they have shown in recent times and we will repay this loyalty by providing them in the years ahead with the best possible cover at the most competitive prices as Quinn-direct has done in motor insurance.” says Quinn Healthcare chairman Sean Quinn.
He added, “I would call on existing VHI members to switch to Quinn Healthcare to avail of our lower prices, excellent customer service and commitment to an open and competitive market.”
There are only three insurers in Ireland; Quinn Healthcare, VIVAS and the state owned VHI healthcare.
Many insurers who offer international/ expatriate insurance will not cover UK nationals who are expatriates in Ireland. Much of this is due to a belief that the legal status of covering expatriates in Ireland is very unclear, and insurers wish to stay out of a politically sensitive and highly charged situation in which the three insurers openly attack each other.