Oireachtas Joint and Select Committees

Wednesday, 19 May 2021

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Developments in the Insurance Industry: Discussion

Photo of Pearse DohertyPearse Doherty (Donegal, Sinn Fein)
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I am not expecting that. However, when Mr. Brennan said they are not worked out, my point is that the regulations are here, they are worked out and they are quite detailed. What I am asking is whether the companies would be satisfied to provide the same information to the Central Bank here? I have no faith that the insurance companies are going to pass this on, euro for euro. That is my position, and I hope I am wrong. What I am not going to do is allow for legislation to be passed, for the Judiciary to do its part and for the insurance companies to pocket much of the benefit from it. I want to hear from Mr. O’Rourke whether his company would be open to having the same level of oversight and requirement that has been legislated for in Britain in regard to providing the information I have just outlined.