Mr. Paul Carty:

I cannot comment on what Insurance Ireland does or does not make available. All I can do is give the facts as I have them from my perspective. We must understand the macro-level context in which Solvency II is being introduced. I understand and have a great deal of sympathy for the Deputy's comment about the impact on the individual insurer. The flip side of that coin is that the rationale for Solvency II is to prevent collapses in the first place, so that we do not have to end up discussing cases like that of Setanta Insurance. There is clearly an upside to what Solvency II is seeking to achieve. That has to be taken into account as well. I ask the Deputy to bear in mind that many of these decisions are not being taken domestically here. We have a very small domestic insurance base. Most of the head offices where these decisions are being taken are external.