James Reilly (Dublin North, Fine Gael)

We are all concerned for policy holders and employees. I welcome the statement that the levy will not affect health insurance policy holders. Can we be sure that the morass that surrounds many of these issues does not confuse the possibility that they lead back to Anglo Irish Bank? I hope the Minister will be able to revert and give us an assurance on this matter.

I welcome that the regulator is being proactive but has it considered the situation in respect of the VHI, which is not solvent by the 40% figure currently demanded by the regulator currently and which has diversified into other areas? Are the Minister and the regulator satisfied no cross-subsidisation is taking place in that company? Will the Minister comment on the need for a 40% solvency fund for insurers in this country when a 25% fund is the norm elsewhere in the EU?

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