Results 1,361-1,380 of 1,974 for speaker:Arthur Spring
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Collapse of Setanta Insurance: Central Bank and Department of Finance (9 Jul 2014)
Arthur Spring: Given there are 75,000 policies overall, what quantum of money would Mr. Casey expect to see as a reserve? An awful lot of the policies that were bought were cash injections which did not run the full course of the policy and were not put into the overall exposure. Therefore, a large percentage of these would be in an asset form. Of the 70,000 to 75,000 policies, what kind of assets would...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Collapse of Setanta Insurance: Central Bank and Department of Finance (9 Jul 2014)
Arthur Spring: That is what I am asking. Has the Central Bank got access to that information?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Collapse of Setanta Insurance: Central Bank and Department of Finance (9 Jul 2014)
Arthur Spring: I understand. The alarm bell that went off in Mr. Kincaid's office was due to the fact some of the files picked up that the amount allocated for dealing with those cases was low. That does not talk about the provisions, it talks about the execution, and that could bleed into the overall profitability of the company being higher. That would not suggest to me there is a problem with the...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Collapse of Setanta Insurance: Central Bank and Department of Finance (9 Jul 2014)
Arthur Spring: There are two issues. First, are the people who took out insurance with Setanta going to get their money back and are people going to be looked after in accordance with what one would expect in a developed democracy? Second, what are we doing to prevent this from happening again in the insurance industry in Ireland? I do not believe anybody who hears about this meeting will get a sense of...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Collapse of Setanta Insurance: Central Bank and Department of Finance (9 Jul 2014)
Arthur Spring: Are they the directors of that company?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Collapse of Setanta Insurance: Central Bank and Department of Finance (9 Jul 2014)
Arthur Spring: Two are Maltese and one is Irish?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Collapse of Setanta Insurance: Central Bank and Department of Finance (9 Jul 2014)
Arthur Spring: This is a catastrophe for the policyholders. Has the Central Bank done anything to pursue these directors either in Ireland or in Malta for breach of their fiduciary duties and possible reckless trading?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Collapse of Setanta Insurance: Central Bank and Department of Finance (9 Jul 2014)
Arthur Spring: Given the fact it was trading here, if it was found to have been engaging in reckless trading, I would urge the Central Bank to do something to ensure there are implications and not to let people off. Everybody who takes out insurance looks for the best deal. As the Chairman said earlier, we do not go through the specifics; we look at the bottom line price and make sure the basics are...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Collapse of Setanta Insurance: Central Bank and Department of Finance (9 Jul 2014)
Arthur Spring: Yes. I do not blame the Central Bank for this and it is working within the parameters it has. However, someone is to blame for it and the policyholders want to know who that is. The most urgent point is to ensure they get as much money back as possible. What needs to be done to stop this happening again and what is being done?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Collapse of Setanta Insurance: Central Bank and Department of Finance (9 Jul 2014)
Arthur Spring: That is not very comforting.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Collapse of Setanta Insurance: Central Bank and Department of Finance (9 Jul 2014)
Arthur Spring: Deputy Pearse Doherty alluded to the fact that the commercial sector would not see all of its money, but will individuals see all of their money and will the exposure lean heavily towards the commercial companies?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Collapse of Setanta Insurance: Central Bank and Department of Finance (9 Jul 2014)
Arthur Spring: I understand that.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Collapse of Setanta Insurance: Central Bank and Department of Finance (9 Jul 2014)
Arthur Spring: It seems to be unregulated.
- Nomination of Members of the Government: Motion (11 Jul 2014)
Arthur Spring: The Deputy's party abandoned the country.
- Nomination of Members of the Government: Motion (11 Jul 2014)
Arthur Spring: Look at the facts. That is rubbish.
- Nomination of Members of the Government: Motion (11 Jul 2014)
Arthur Spring: What was the rate when the Deputy left office?
- Nomination of Members of the Government: Motion (11 Jul 2014)
Arthur Spring: Says the guy who wanted more cuts in social protection, did he tell the people that?
- Nomination of Members of the Government: Motion (11 Jul 2014)
Arthur Spring: They were factual.
- Nomination of Members of the Government: Motion (11 Jul 2014)
Arthur Spring: Say that again.
- Nomination of Members of the Government: Motion (11 Jul 2014)
Arthur Spring: The late Brian Lenihan signed off on that.