Results 11,501-11,520 of 26,053 for speaker:Kieran O'Donnell

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (4 Jul 2019)

Kieran O'Donnell: I am not denying they are coming down but they should have come down at a higher rate. That is an observation. It is AXA's business but I have to ask the question. I will move on to Mr. McGrath.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (4 Jul 2019)

Kieran O'Donnell: The book of quantum.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (4 Jul 2019)

Kieran O'Donnell: Allianz was close to it and above the line rather than below the line.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (4 Jul 2019)

Kieran O'Donnell: Yes.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (4 Jul 2019)

Kieran O'Donnell: Would it be fair to say that operating in the insurance market in Ireland at the moment is a profitable business?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (4 Jul 2019)

Kieran O'Donnell: I am asking about as of now.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (4 Jul 2019)

Kieran O'Donnell: Does Allianz consider it has any role to play with respect to the fact that premiums are very high even at this time?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (4 Jul 2019)

Kieran O'Donnell: I will move on to Ms Muldoon.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (4 Jul 2019)

Kieran O'Donnell: Define inflation. What does Ms Tobin mean by it?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (4 Jul 2019)

Kieran O'Donnell: I have two further questions. To take the example of €100 of a premium that comes in, which is one Mr. McGrath used, roughly 94% of that is paid out.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (4 Jul 2019)

Kieran O'Donnell: Will Mr. McGrath break that down in terms of claims, injury costs and awards together with the breakdown of legal fees? We speak about it in the abstract. I would like to know the make-up of it. Of €100 of a premium taken in, 94% is paid out, but of what is that 94% made up?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (4 Jul 2019)

Kieran O'Donnell: How much of it is that?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (4 Jul 2019)

Kieran O'Donnell: Overheads.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (4 Jul 2019)

Kieran O'Donnell: A reinsurance cost. Two thirds of the cost is make up by claims.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (4 Jul 2019)

Kieran O'Donnell: What is the breakdown between the awards and legal fees?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (4 Jul 2019)

Kieran O'Donnell: Some 37% is the awards and 30% is the legal fees.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (4 Jul 2019)

Kieran O'Donnell: Some 42%.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (4 Jul 2019)

Kieran O'Donnell: Then there is the 58% figure.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (4 Jul 2019)

Kieran O'Donnell: Am I correct in saying that of the 67%, 37% is in terms of awards and 30% goes on legal costs? I want to compare that with the figures Mr. McMahon has given us. Of the awards that are paid out in personal injury cases, I want to establish the breakdown between the awards and legal fees.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (4 Jul 2019)

Kieran O'Donnell: Some 80% goes on legal costs and is it only 20% that is the award?