Results 11,341-11,360 of 26,032 for speaker:Kieran O'Donnell

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (Resumed) (3 Oct 2019)

Kieran O'Donnell: Is the target margin 5%?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (Resumed) (3 Oct 2019)

Kieran O'Donnell: What was 2017 like for AIG?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (Resumed) (3 Oct 2019)

Kieran O'Donnell: What were the AIG figures for 2017?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (Resumed) (3 Oct 2019)

Kieran O'Donnell: What was the turnover for Zurich in 2018?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (Resumed) (3 Oct 2019)

Kieran O'Donnell: What was the target profit margin?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (Resumed) (3 Oct 2019)

Kieran O'Donnell: So all three insurers aim for a 5%.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (Resumed) (3 Oct 2019)

Kieran O'Donnell: What was Zurich's profit?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (Resumed) (3 Oct 2019)

Kieran O'Donnell: Did Zurich have €10 million in investment income?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (Resumed) (3 Oct 2019)

Kieran O'Donnell: Was the actual profitability overall €28 million?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (Resumed) (3 Oct 2019)

Kieran O'Donnell: I am sure Mr. Brennan will appreciate that, to the ordinary person viewing this meeting, it would be higher than 5%.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (Resumed) (3 Oct 2019)

Kieran O'Donnell: If there was a reduction in claims and awards how much of it would be passed on to customers in reduced premiums?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (Resumed) (3 Oct 2019)

Kieran O'Donnell: Is it fair to say that Aviva will always seek to retain the 5%?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (Resumed) (3 Oct 2019)

Kieran O'Donnell: If claims are reduced will the profit margin for Aviva be reduced to 5%?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (Resumed) (3 Oct 2019)

Kieran O'Donnell: Will Zurich pass on a reduction in its entirety?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (Resumed) (3 Oct 2019)

Kieran O'Donnell: Will AIG pass on a reduction?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (Resumed) (3 Oct 2019)

Kieran O'Donnell: To date, the committee has met six insurance companies and AIG is the only one to make a loss. Why? AIG broke even in 2017 yet it showed a loss of €30 million on a turnover of €280 million in premiums in 2018. Have there been major write-offs? Was the loss of €30 million made after exceptional provisions were made? A loss by AIG is out of kilter with what happened in...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (Resumed) (3 Oct 2019)

Kieran O'Donnell: I am reading from the Insurance Ireland fact file of 2017, which shows that the company was consistently among the highest. It had the second highest market share in the motor sector, the sixth highest in property, and the highest market share in terms of liability insurance.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (Resumed) (3 Oct 2019)

Kieran O'Donnell: In that loss of €30 million, how did the company do in the areas of motor, property and liability insurance, respectively?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (Resumed) (3 Oct 2019)

Kieran O'Donnell: Is the latter the property line?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (Resumed) (3 Oct 2019)

Kieran O'Donnell: Mr. O'Rourke referred to losses coming forward from previous years. Did the company make money in 2018 in financial lines?