Mr. Kevin Thompson:

I can only come back to my earlier comments. We have always said premiums are a function of claims.

That is where the bulk of the costs arise for all types of insurance. I highlighted the numerous factors responsible for claims inflation in the marketplace, the liquidation of Setanta Insurance being one. Previous figures from the Central Statistics Office reflected increases in premiums and Insurance Ireland was challenged in this regard. More recent CSO figures reflect a reduction in premiums, which we view as a positive development.

I return to my earlier comments. The market dynamics will take effect in that companies will compete for customers. We encourage people, in trying to obtain the best premium, to ensure they shop around because there is value to be obtained in the market.