Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

We had representatives of a number of insurance companies, including AXA and Aviva, before us and I asked them all the questions about the claims ratio. They are saying the claims ratio is now 65%, which means that for every euro taken in, 65 cent is paid out in claims. It is a good indicator in respect of claims. The other part will be made up of either the industry's profits, which have increased significantly, or the operational cost. How is it that the claims ratio in Ireland is significantly lower than what the European average is reported to be? In some cases, as with the companies before us, it is 10% lower. In other words, it is 65% rather than 75%, yet Insurance Ireland continues to peddle the suggestion that there is a massive compensation culture here.