Mattie McGrath (Tipperary, Independent) | Oireachtas source

Listening to the contribution of the Minister of State, one would think that we were in tír eile or in Disneyland or somewhere. He stated that insurance premiums were too low. They have never been too low. I have been in business since 1982 and have never known a time when they were too low. I have been on the road since I do not know when. God almighty, it feels like it was 1916 but it was 1976 or 1977.

Through this motion we wish to initiate a comprehensive debate on the entire insurance sector. Deputy Grealish wished to initiate it on business insurance. We could cover the whole sector but we would be here for two weeks.

I am astounded that no member of the Labour Party sat in the Chamber for one minute of this debate. Cad a dhéanfaimid feasta gan Páirtí an Lucht Oibre? The former Minister, Deputy Kelly, is trying to reincarnate himself around the country as the saviour of rural Ireland but he is not interested in this debate nor in many others. The attendance in the Chamber is pitiful. It may be snowing outside but myself and Deputies Michael and Danny Healy-Rae could make hay or turf because the heat in the Chamber is unbearable. It has nearly sent me to sleep. I will barely be able to keep going for another ten minutes. I will be i mo choladh.

Members are regularly in clinics of the completely unjustifiable levels of increase in the cost of premiums. Those increases come in spite of the fact that an insurance company, Aviva, saw its profits surge in this country last year, as noted in March 2017 by Charlie Weston, a fine and honourable journalist with the Irish Independent, and in spite of what was said by the Minister of State, Deputy D'Arcy, and the Minister, Deputy Donohoe. Mr. Weston noted that, "The company said that its operating profits jumped by 20pc in 2016 to €82m. This was up from €68m in the previous year." That is a nice jump. It would be great if any of our businesses were up by over €20 million. He went on to report that at the time that all insurers had pushed up premiums, with the average policy becoming around 60% more expensive in the previous three years. That is 20% per year. One can name and shame it. These are naked facts stated by the head of Aviva. Mr. Weston continued:

Aviva said its general insurance business recorded a 19pc increase in net written premium to €461m. A key measure of profitability in general insurance, the combined operating ratio, was 91.1pc. Any figure below 100pc means a general insurer is making profits. Operating profit in the general insurance division rose by 25pc at the Irish unit of the giant insurer to €50m, with the company helped by benign weather last year.

There was a benign winter that year but it is not so benign this year with the approach of the so-called beast from the east. However, the beasts are here already in the form of insurance companies. They are the real beasts and they are toasting the people and the Government does not want to do anything about it.

It has been 19 months since the report was issued. Much good work was put into it by the staff, whom I am not criticising, nor the Minister of State in that regard. However, when I saw that it contained 75 recommendations, I knew it was a waste of time. Like the snow that is falling tonight, it will be gone in the morning or the day after.

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