Minister Reilly welcomes certainty for Quinn Healthcare customers
Dr James Reilly T.D., Minister for Health today (Friday 23rd December 2011) noted the announcement by Quinn Healthcare Ltd. that its health insurance business is being bought out by the company’s senior management team and will be underwritten by Swiss RE, a major international reinsurer.
The Minister said “I welcome the certainty this announcement will bring to customers of Quinn Healthcare and to the private health insurance market as a whole.”
“The Government’s clear objective is for the health insurance market to remain competitive and strong as we move towards a new system of Universal Health Insurance. It is my hope that this development will lead to innovation and improvements in private health insurance in Ireland and that competition will increase, bringing greater benefits to private health insurance customers.
It is my intention to ensure that the private health insurance market is reformed to ensure that costs are reduced and that there is a more even balance in the market.”
The Minister also noted that this announcement by Quinn Healthcare will have no effect on existing and renewing customers of Quinn Healthcare, who can renew their health insurance cover with the confidence that policies will be underwritten by a significant global reinsurer.