Eoghan Murphy (Dublin Bay South, Fine Gael) | Oireachtas source

Yes, I am disappointed with that decision, but I must be careful about what I say about individual companies. AIG announced a decision and informed me of it early yesterday after making it. I have had a number of meetings with AIG and the people making the decision, as has the Minister, Deputy Noonan. I have not yet had a chance to speak with him about the decision and what we might do now. My feeling is that the reason AIG is not coming to Ireland has nothing to do with any shortcoming on our part. A great deal of work has been done in terms of financial services and their potential, particularly insurance. AIG has a strong business in Ireland, does good work and has invested in our economy and jobs.

The Acting Chairman will undoubtedly have seen today's statement from the Central Bank about the number of applications from insurance entities that it has received and is progressing. Some companies will come to Ireland, but not all. It remains to be seen whether particular ecosystems will develop in certain sectors, be that payments, insurance and reinsurance or the like, but we are doing everything we can. For example, IDA Ireland ensures that questions from its client companies on the IFS2020 strategy and how that might work are answered. The Central Bank has been acquiring new resources and reallocating others to deal with the levels of interest it has seen. I must be careful in what I say about why I believe AIG did not come to Ireland.