Mr. Florian Wimber:

I thank the Deputy for the question about the size of the market. Ireland not only has a domestic market, where there are challenges in assuming insurance, and Mr. Boland has referred to that. We also have a strong exporting market.

Under the European Single Market insurance services are provided from Ireland under the freedom of establishment and the freedom to provide services to other EU countries and to approximately 110 countries globally. This market is consequently bigger due to the number of potential customers in it and that places Ireland as an international hub for insurance.

With specific reference to the second point on making Ireland the biggest exporter of insurance, according to data from the European Insurance and Occupational Pensions Authority, the head organisation of all supervisors in Europe, Ireland exports approximately €30 billion in premiums and is, by that, the biggest provider outside its own jurisdiction compared to the other markets, if that answers the question. The data only cover life and non-life insurance, not reinsurance.