Seán Sherlock (Cork East, Labour)

I thank the Deputy for raising this matter. As I reported to the House on the 22 September, Aviva is undertaking a review of its operations in response to a significant reduction in demand for insurance and pensions products. Aviva has found it necessary to review its operations here to ensure its cost base is in line with domestic demand to ensure sustainability. The CEO of Aviva Ireland has assured the Minister for Jobs, Enterprise and Innovation that no decisions have been taken on the final structures or potential job losses. He has also confirmed that Aviva is committed to remaining a significant player in the Irish insurance and assurance market.

As the CEO of Aviva has confirmed that the company is in ongoing contact with employee representatives, it would be premature to speculate about the outcome. To be fair, it is pertinent that the Government allow the unions to engage with Aviva to see where that process might lead. The company has given a commitment to communicate the results of the review to my Department and IDA Ireland when completed. We anticipate that the review will be completed by the end of October. In the interim, IDA Ireland is in contact with the company at both corporate and local level, with the intention of mitigating the impact of potential negative outcomes following the review. IDA Ireland is also in dialogue with the company on potential future opportunities in respect of the company's significant international business. In this context, recent media coverage does not reflect a formal announcement by the company. The review of its operations is ongoing and the company has not officially confirmed the scale of potential job losses. My Department, through IDA Ireland, is monitoring the situation closely and will engage further with the company at any stage.

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