John McGuinness (Carlow-Kilkenny, Fianna Fail) | Oireachtas source

In the committee's report we talk about the period between 2007 and 2012 when insurance companies generally broke even, according to the figures that are available, with profits in some years and losses in others. Between 2012 and 2014, however, insurance companies incurred significant losses, which bears out the Minister's thinking. Taken as a whole, however, insurance companies amassed profits totalling €2.86 billion from 2002 to the date of the report in 2016. The data from the Central Bank's blue book show that motor insurance companies made €3.1 billion in profits from 2001 to 2012.