Oireachtas Joint and Select Committees
Wednesday, 9 July 2014
Joint Oireachtas Committee on Finance, Public Expenditure and Reform
Collapse of Setanta Insurance: Central Bank and Department of Finance
2:45 pm
Michael McGrath (Cork South Central, Fianna Fail)
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The indications are that the liabilities exceed the assets. This is why Setanta Insurance is insolvent and has had to be liquidated. There is a significant shortfall, which means there will be a call on the insurance compensation fund.