Mr. John O'Dwyer:

I wanted to correct any misunderstanding here. Further to what Mr. Dowdall said, after 17 years of competition in the marketplace there is little or no competition for groups with the old and the sick. We all know with multinationals it is a very competitive market every year among all insurers. I could outline 30 or 40 group schemes where they are all older. We do not have one ounce of competition in any of these particular group schemes.

I am really encouraged that everybody here seems to be willing to say they would like a fair share of the older customers. I ask for the regulators to think of ways for that to be done.

I want to correct the point about money and solvency. VHI in the solvency calculations is far in excess of the minimum solvency requirements. It is our intention not to ask the taxpayer for any money. It is our intention over the next year for us to fund and find our own capital.