Health Insurance Premiums Jump 11% as Ulster Bank Repays One-Third of Bailout

Private health insurance premiums increased by almost 11% last year, while providers simultaneously reduced cover levels, particularly for orthopaedic procedures like joint replacement surgery, seemingly targeting older customers, according to the Health Insurance Authority.

Ulster Bank is projected to repay only one-third of the UK's €17.3 billion bailout from the financial crisis. The company now holding the bank's remnants reported a net loss of €53 million last year and spent €56 million on customer remediation, mainly for mortgage overcharging. Goodbody Stockbrokers analysis suggests fears about Minister Simon Harris’s tax-efficient savings accounts denting bank profitability are overblown.

BWG O’Brien’s, operator of Spar, Mace, and Londis, acquired O’Briens Cafe, Abrakebabra, and Bagel Factory. Grocery costs are over 5% higher than last year, the slowest inflation rate since last summer, with increased sales of sun creams, ice creams, antipasti, and sparkling wines. Central bankers are preparing for an interest rate hike next week in Frankfurt, which would increase mortgage costs in Ireland.

Activist short seller Andrew Left of Citron Research was convicted of fraud in the US for a market manipulation scheme that generated at least $16 million in profits. Electric vehicles now comprise almost two-thirds of new car sales in Ireland, with pure EV registrations doubling in May. A 24-apartment scheme above Lidl Rathmines, generating €436,000 annually until 2033, is on the market for €8.5 million. BCF Lending is providing a €9.25 million loan for The Quays shopping centre expansion in Newry. Kilshane Energy plans a 680MW gas-fired power plant near the M50 in north Dublin for backup generation. Greenvolt Next plans to nearly double its staff, hiring 90 people in Ireland and Britain.