Press
QUINN HEALTHCARE ENTERS IRISH MARKET
- 500 additional jobs planned in Fermoy expansion
- Price freeze for 2007
- VHI customers urged to switch
The Quinn Group today entered the Irish health insurance market with the completion of its takeover of BUPA Ireland Limited's business. The new company will be known as Quinn Healthcare and will continue to be based in Fermoy Co. Cork. In order to meet the anticipated growth in Quinn Healthcare's business the company intends to develop a new office facility in Fermoy that will hold up to 800 staff.
Quinn Healthcare has taken over all the existing operations of BUPA Ireland Limited from where it will service its membership base of 440,000. This customer base, combined with our 500,000 customers, will create one of the leading financial services organisations in Ireland. Quinn-direct has transformed the general insurance market in recent years and the entry of Quinn Healthcare to the health insurance market will increase competition and innovation in the market.
Quinn Healthcare is committed to providing market leading benefits at competitive prices. To illustrate this, prices for 2007 have been frozen, providing a significant differential between Quinn Healthcare and the other insurers. This price gap will become even greater later in the year when VHI has its annual price increase. Currently an average family of two adults and two children on Quinn Healthcare's mainstream comparable plan will save €391 per year by switching from VHI to Quinn Healthcare.
Quinn Healthcare is also committed to introducing new products and to ensuring its members have access to the best possible care and hospitals at the most competitive prices. The company calls on existing members of VHI to switch to Quinn Healthcare as they will be able to avail of:
- The highest levels of quality and customer service
- Our Commitment to provide Customer Choice for treatment
- Competitive Prices on a range of healthcare products to suit you and your family
- Switching is easy and we'll take over exactly where your old insurer leaves off
- Support an open and competitive health insurance market by switching from an inefficient government backed organisation
Commenting on the launch of Quinn Healthcare, the Chairman of QUINN Group, Sean Quinn said:
"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 Limited'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.
While we support the concept of community rating we believe that the health insurance market is best served by having transparent and open competition and to this end we believe the government must act to put an end to the anti-competitive and dominant position of the VHI. Indeed, their position is being reinforced by the government's insistence on continuing to implement the current unfair risk equalisation scheme. We are determined to create a competitive health insurance market and will take whatever action is required to achieve this.
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."
- Ends -
17 April 2007
For further information, please contact:
Quinn Group
Brian Bell, WHPR
Tel: +353 1 669 0030
Mobile: +353 87 2436 130
