Mr. Michael Horan:

A generalisation cannot be made for one year. The Deputy is taking one year, stating what some CEOs have said is the claims ratio and comparing it with the European average. I am saying the claims ratio for recent years has been in the mid to late 90s. It needed to come down to a lower level. If it had not, the market would have been completely unsustainable. Insurance companies need a return on their investment. The measure of success in terms of all the reforms we hope will be made will be whether we will see more insurance companies coming into the Irish market. Will we see more motor insurance companies coming into the Irish market?