Oireachtas Joint and Select Committees
Wednesday, 1 April 2015
Joint Oireachtas Committee on Finance, Public Expenditure and Reform
Setanta Insurance Liquidation: Discussion
2:00 pm
Pearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source
Setanta continued to sell after January 2014. I wrote to the financial regulator in Malta last year and I am thankful that I received a response. It stated very clearly that the Maltese financial regulator at the time directed Setanta to cease with immediate effect in carrying out any new or renewal of contracts of insurance, as of close of business of 24 January 2014. Following inquiry with the company as to the number of live policies in its book and expiry dates of these policies, it transpired that a number of live policies from Setanta extended to March 2014. This, in effect, means the company continued to renew insurance policies after 24 January 2014. Is there any possibility that those policyholders will be able to claim under the liquidation process?
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