James Reilly (Dublin North, Fine Gael)

I ask the Minister to indicate to the House the solvency target for the VHI in monetary and percentage terms and the level of solvency achieved by the company by the end of March 2010. Does she see any inconsistency between the State's treatment of the VHI, in respect of which it once again extended the deadline for solvency, and of Quinn Insurance? An article in The Irish Times cites Seán Murphy, the deputy chief executive of Chambers Ireland, as agreeing that the situation "clearly isn't fair" and Tom Carney, a partner with Dillon Eustace, as stating:

It emphasises the stark contrast between the State's regulatory approach towards Quinn and that of the VHI. One company is completely and utterly exempted from solvency arrangements, while, on the other hand, another company is in permanent administration – and both companies are pursuing the same market.

Perhaps the Minister can inform the House how many times she has extended the deadline.

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