Oireachtas Joint and Select Committees
Wednesday, 9 July 2014
Joint Oireachtas Committee on Finance, Public Expenditure and Reform
Collapse of Setanta Insurance: Central Bank and Department of Finance
4:20 pm
Richard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance) | Oireachtas source
I understand. First, that divergent treatment is completely unfair from the point of view of the policy holders. It would probably be the case that if we had the responsibility for trying to sort things out and keep things going, or selling off the policies to somebody else who would maintain them so there were no losses to premium holders, there would probably be far greater motivation to salvage things in the interests of the policy holders than there might be in Malta which, to be honest, does not have any great interest in solving it. I am not saying Malta did not make efforts - I have no idea what efforts it did or did not make - but it is fairly obvious that we would have made more efforts, because everything was based here and all the policy holders were here.
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