Mr. Paul Carty:

I agree with Mr. Phelan and what Ms Dowling said at the outset. I am in the business of trying to introduce new carriers into Ireland. That is what I do. We need certainty in the Irish market. This is very bad publicity for us in the round. We need to be able to resolve many of the problems that have been highlighted today if we are to be able to introduce new players into the market. We also have to realise the scale of operations in this country. Ireland is a small country. The major players are not focusing on this market. It is simply not big enough to attract them. That will only be possible if we can show them that they have a reasonable prospect of making an underwriting profit.