VHI posts after-tax loss of €41.7m
VHI made a post-tax loss of €41.7m euro in 2009.
The voluntary health insurer also had almost 120,000 fewer customers at the end of the year than it had at the beginning.
It spent €1.3bn in funding the needs of its customers last year - with over half spent on its older client base.
However the company said it "remains financially strong" with liquid financial assets of €705m and retained reserves of €306m which its said "makes its balance sheet significantly stronger and more liquid than those of its competitors."
The health insurer is predicting its customers' demand for services will increase by between 6% and 7% annually over the next decade.
VHI CEO Jimmy Tolan however said that won't necessarily translate to increased premiums.
"Not necessarily in the short term, because we are very cognisant that our customer base is under significant financial stress at the moment," Mr Tolan said.
