Oireachtas Joint and Select Committees

Thursday, 3 October 2019

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

Insurance Sector: Discussion (Resumed)

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

To date, the committee has met six insurance companies and AIG is the only one to make a loss. Why? AIG broke even in 2017 yet it showed a loss of €30 million on a turnover of €280 million in premiums in 2018. Have there been major write-offs? Was the loss of €30 million made after exceptional provisions were made? A loss by AIG is out of kilter with what happened in the rest of the insurance industry.

Why is that?

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