Oireachtas Joint and Select Committees
Wednesday, 1 April 2015
Joint Oireachtas Committee on Finance, Public Expenditure and Reform
Setanta Insurance Liquidation: Discussion
2:00 pm
Mr. Paul Mercieca:
As I said in the report, the estimates outcome statement predicts a 30% maximum repayment to insurance creditors. That is based on the actuarial report from Towers Watson which took the claims reserve up to the figures I mentioned earlier. In terms of the actual claims we have today, I also mention the projection of a €25 million increase in claims estimate, based on the latest information available to me.