Kieran O'Donnell (Fine Gael) | Oireachtas source

My next questions are for Aviva and Zurich. In 2018 the normal target margin was 5% but Aviva made 11.4% and Zurich 8.98%. Aviva made superprofits of €33 million and Zurich €12 million, which are 6% and 4%, respectively. Axa was before us, as were FPD and Allianz. In total, the five companies other than AIG made superprofits of over €122 million in 2018. We have spoken about claims and legal fees but, given that the companies are making margins way in excess of their target margins, why are they not reducing fees? They are saying they will only reduce premiums when they keep the 5% margin. Why are Aviva and Zurich not passing back these superprofits, of €33 million and €12 million, respectively, to customers in the form of reduced premiums? Why do many customers feel they are being ripped off by insurance companies?