Dara Murphy (Cork North Central, Fine Gael) | Oireachtas source

I will be as discreet as I can. I acknowledge the good work that has been done in maintaining so many jobs in the current climate.

In regard to the industry’s processes, as a layperson it is extraordinary that an insurance company would not employ actuaries. The actuarial process seems to be at the core of the insurance business. Did the auditors have actuarial experience? The reserve account was underestimated by €250 million over a four year period. How could an auditor allow that to happen?