Mr. Brendan Burgess:

When Genworth issued its policies in Ireland it was a subsidiary of GE Capital which is a huge international organisation that has plenty of capital. I would have been far more comfortable with it than with a stand-alone group.

I am against mortgage indemnity insurance but if we do have it, I liked the Jardine suggestion this morning that it would be provided by a pool of insurers all A rated rather than relying on one A rated insurance company.

In Canada, if one takes out a 90% mortgage, one pays a premium of 2.4% of the entire mortgage. If one takes out a mortgage of €200,000, one will pay a premium of €5,000. That goes to a state company. Was Deputy Doherty implying that there will be problems with mortgages in Canada?