Mr. Domhnall Cullinan:

In this regard, I note that about eight insurance undertakings occupy between 70% and 80% of the motor and household insurance markets. Of those, six are authorised by the Central Bank. Two are not authorised by the Central Bank but operate on the basis of freedom of services into Ireland. One of those is Liberty Insurance, a Spanish firm whose ultimate ownership is in the USA. The other is AIG, a Luxembourg firm ultimately owned by an American firm. None of the big players passports into Ireland from the UK. The UK demands a completely different pricing model than Ireland, as it is a completely different jurisdiction.