Mr. Bernard Sheridan:

The Deputy is right. The Maltese authorities directed the firm to cease writing new business and renewing policies. They are investigating the fact that policies were sold post 24 January. We have been in contact with them and they are looking into the matter. They have committed to sharing the results of their investigation with us. At this stage we cannot say what happened, how it happened or whether it was at the level of the insurance company. Obviously, the latter was certainly the case because the company continued to underwrite some business that was going through the pipeline. The suspension was issued by the Maltese authorities to the company. The company wrote to all its brokers confirming the suspension and they were all obliged to write to the policyholders to make them aware of it.