Oireachtas Joint and Select Committees
Thursday, 6 October 2016
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Rising Costs of Motor Insurance: Discussion (Resumed)
10:00 am
Dr. Cyril Roux:
Of course we were always aware of that. As the Deputy said, this is a truism and is the insurance or underwriting cycle. Looking at the history of insurance here or in the UK over decades, one sees multi-year insurance cycles where for a time insurance is profitable and capital is built through profit. Through the build-up of profit, excess capacity or capital-----
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