Oireachtas Joint and Select Committees
Thursday, 20 April 2023
Public Accounts Committee
2020 Report of the Comptroller and Auditor General: Chapter 14 - Assessment and Collection of Insurance Compensation Fund Levies (Resumed)
Report on Administration and Movement of the Insurance Compensation Fund for the year ended 31 December 2021 (Resumed)
Comptroller and Auditor General Section 2 Report on Unauthorised release of funds from the Central Fund of the Exchequer (Resumed)
9:30 am
Ms Sharon Donnery:
The assets and liabilities of Quinn Insurance at the end of 2008 were €1.46 billion and €1 billion, respectively. Subsequent to the appointment of the administrator who verified the figures in 2012, it was confirmed that the liabilities had been underestimated by €936 million and the assets overvalued by €450 million. We can send these figures to the committee in writing, if that would be helpful.
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