Oireachtas Joint and Select Committees
Thursday, 8 March 2018
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
General Scheme of the Insurance (Amendment) Bill 2017: Discussion (Resumed)
9:30 am
Mr. Kevin Thompson:
It is in deficit at the moment. I understand approximately €800 million remains to be paid out arising from the liquidation of Quinn Insurance. As I noted, the ICF currently collects approximately €74 million per annum. Under the proposed legislation, an additional amount of between €34 million and €40 million will be collected, giving a total annual figure of slightly more than €100 million.
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