Gerry Horkan (Fianna Fail) | Oireachtas source

It would be of benefit to bring Insurance Ireland back at some point. At the end of this session, which is the star session of this whole thing, because everybody else was building up to what Insurance Ireland would have to say, we still do not have any clear answer as to why we have had a 70% increase in premiums over two years. We saw how much extra we are getting. There is about a 25% increase in claims payouts. Mr. Thompson said they are already prepared for Solvency II and investment income is relatively small in the context of the premiums being charged. We still do not have an answer. The public, who are watching, must share my frustration. It is grand to say that we do not have the data and the figures but it is very hard to believe that a 70% increase is justified.