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.