Michael D'Arcy (Wexford, Fine Gael) | Oireachtas source

In the case of motor insurance, there has been a reduction of 25.5% from the peak of three years ago in July 2016. They are the figures. In 2016 there was a loss year on year of €75 million. In 2017 there was a profit of €59.7 million. I know that the figures quoted are correct on the basis of how they are presented, but the fact that the sector was losing €75 million a year was the reason insurance companies were exiting the Irish market. I remind the Deputy that, year on year, between 70% and 80% of personal injury claims involve whiplash. As I said, there was a loss of €75 million in 2016. Make no mistake - I am not here to defend the insurance companies. They are clever enough and well able to defend themselves, but in the scheme of things, a loss of €75 million in 2016 was converted into a profit of almost €60 million. That gives a different complexion than what was presented.