Oireachtas Joint and Select Committees

Thursday, 4 July 2019

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Insurance Sector: Discussion

Photo of Kieran O'DonnellKieran O'Donnell (Fine Gael) | Oireachtas source

I read the conclusion of Ms Muldoon's statement. She referred to the enormous sums of money being made by the legal professions from injury awards and the vested interests. One thing comes to mind. We have deliberated on this a long time. It continues to amaze me that the insurance companies blame the legal profession and the legal profession blames the insurance companies. The only person losing out is the consumer.

We have been given myriad figures. The insurance industry is part of the vested interests. The figures do not add up. The companies here are Allianz, AXA, and FBD. What percentage of the Irish market do they each have? I want to get some idea of that. Will the company representatives give me the figure? The question is for Mr. McGrath, Mr. Bradley and Ms Muldoon. What percentage of the Irish market do the companies have?

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