Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

I will ask Mr. Thompson about a related issue, the passporting into Ireland of insurance services. Ireland is part of the EU Single Market and it is allowed that firms such as Setanta can have their prudential regulation in another EU member state and be regulated here only for conduct of business purposes.

Does Insurance Ireland have any concerns about the nature of the EU-wide regulation? Has it improved and can we have reassurance that we are not likely to see a Setanta-type collapse over the period ahead?