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
4:10 pm
Mr. Bernard Sheridan:
Based on our own experience and approach to supervision, when firms fall below the additional buffer we have in place, similarly to Malta, we engage in a robust challenge back to them. We have taken enforcement action against firms which have fallen below that buffer. We see the buffer as critical to protecting policy holders.