Ms Patricia Callan:

I certainly agree that it is multifaceted. I have bilaterally met all the insurance companies, trying to work through these issues for members.

The Solvency II directive, the reserves, the state of the investment market and other such financial issues which we do not consider when we think about claims and accidents are factors in the background. As has been said, there really are only five companies, which are all multinationals that operate elsewhere. They wonder why they are in this market. As an association, our real worry is that if one of them pulls out, we would be in serious difficulties.