Mr. Michael Lyons:

Profitability is a major factor in this area. I refer to the experience in the UK regarding difficulties for professionals. Many of our colleagues in the UK are probably having the same difficulties when it comes to fire safety PI insurance. Several major events in the UK, such as the collapse of the Carillion construction company in 2018 and the Grenfell Tower fire in 2017, have had knock-on effects on the confidence of underwriters to support various policies. Regarding Irish underwriters, I learned a great deal about the insurance industry in 2021 as a result of all the complaints from my colleagues. Our colleagues here from the insurance industry would be far better able to answer this question about Irish underwriters in the market, but my impression so far is that the majority of underwriters of such insurance policies were based in the UK.