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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