Aviva Health sees full-year pretax profits jump 44%

Aviva Health, which was recently acquired by Irish Life, reported a 44 per cent rise in pre-tax profits last year. Newly-filed accounts show Aviva Health Insurance Ireland Limited recorded a profit of €16.4 million versus €11.4 million in 2014.

Aviva Health had gross premiums of €331 million for the year, up slightly on the €330 million in the preceding year. Net premiums rose from €115.7 million to €116.3 million.

Net claims totalled €84.4 million, down 9.5 per cent from €86 million a year earlier.

The insurer, which has about 300,000 customers in Ireland, was previously owned by Aviva and AIB via a joint venture.

The company paid an interim dividend of €12.5 million to shareholders last year, as against €11 million in 2014. The board also decided to pay a final dividend of €77,900 to Aviva Health in 2015, the accounts show.

The company employed 119 people in 2015 with staff costs, including wages and salaries, totalling €11.1 million.

Aviva Health was put up for sale by its owners last year. Irish Life acquired the insurer and had bought out the 51 per cent of rival GloHealth that it didn’t already own, in March.