Oireachtas Joint and Select Committees
Wednesday, 14 September 2016
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Rising Cost of Motor Insurance: Discussion (Resumed)
11:00 am
Mr. Ronan Mulligan:
The Deputy is right in the way he characterised it. During the period, they were underwriting losses but were able to subsidise those with returns on investment. We are now in a place where yields have fallen to very low levels and there is no possibility of subsidising underwriting losses to the same extent because yields are so low now. They are returning to underwriting as a source for profit.
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