Pearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source

Deputy Higgins mentioned the following here. Was the Central Bank at any time concerned about a conflict of interest between the company and the manner in which it was established, and the fact that brokers were selling their insurance products? A number of shareholders in the company are either directors or senior employees and a number of directors are in brokers and groups that provide services for numerous brokers in the State. Laura Noonan wrote as far back as 2008 of a potential conflict of interest given the fact that so many of the owners of Setanta Insurance were involved in the broker industry in Ireland. There was a legitimate question about how a punter seeking the best deal on his or her motor insurance could obtain that from a broker company a director of which was also an owner of Setanta Insurance. Were they peddling their company to maximise their profits? Is this something the Central Bank looked at or was concerned at all about?