Michael McGrath
Question:430. Deputy Michael McGrath asked the Minister for Health if he is satisfied that no further capital injections will be required for the VHI; and if he will make a statement on the matter. [49301/14]
View answerThursday, 18 December 2014
Questions (430)
Written answers
VHI submitted its application to the Central Bank of Ireland (CBI) on 16 May 2014 and it is at the latter stages of assessment by the CBI. VHI continues to engage closely with the Bank, and my Department has also provided a number of clarifications to the Bank to assist them in their understanding of the private health insurance market.
Consideration of the VHI's application for authorisation, including any capital requirement, is a matter for the CBI in its role as independent financial regulator and as Minister I cannot anticipate how long that process will take, or its outcome. VHI has indicated that it expects to be in a position to self-fund any capital requirements without recourse to Exchequer funds. It is my intention that VHI will be authorised at the earliest opportunity, upon approval by the CBI.