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

3:30 pm

Mr. Bernard Sheridan:

I agree that the brokers continued to do it. What is at issue is the basis on which they were doing so. The Maltese authorities are investigating the role the company played in terms of underwriting the relevant policies. None of those policies would have been renewed unless the firm facilitated the underwriting of the business. That is what is being investigated by the authorities.