Results 11,441-11,460 of 26,021 for speaker:Kieran O'Donnell

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Fraud: Discussion (9 Jul 2019)

Kieran O'Donnell: On insurance fraud, a figure was given of 1,500 to 2,000 over the past three years. What was the specific number? There have been 50 insurance fraud matters arising since last October. What percentage of all fraud does insurance fraud comprise?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Fraud: Discussion (9 Jul 2019)

Kieran O'Donnell: Mr. Twomey is saying that only 50 of the 1,500 cases relate specifically to insurance fraud.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Fraud: Discussion (9 Jul 2019)

Kieran O'Donnell: Demand led. Representatives of the insurance companies were before us last week. Some of them stated they reckoned up to 20% of claims were fraud related, yet we find that the fraud related complaints referred to An Garda Síochána account for only 3% of what happened since last October. There were 1,500 in total, and only 50 of those related to insurance fraud. There is...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Fraud: Discussion (9 Jul 2019)

Kieran O'Donnell: If the demands on An Garda Síochána from reported insurance fraud increased significantly, would the force then look at the need for a specific, dedicated insurance fraud unit within An Garda Síochána?

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

Kieran O'Donnell: When were these cases?

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

Kieran O'Donnell: When were they settled?

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

Kieran O'Donnell: How long ago did the claims happen?

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

Kieran O'Donnell: I read the conclusion of Ms Muldoon's statement. She referred to the enormous sums of money being made by the legal professions from injury awards and the vested interests. One thing comes to mind. We have deliberated on this a long time. It continues to amaze me that the insurance companies blame the legal profession and the legal profession blames the insurance companies. The only...

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

Kieran O'Donnell: What about Allianz?

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

Kieran O'Donnell: What is the figure for AXA?

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

Kieran O'Donnell: The companies are not too far off having 50% of the Irish market between them. Allianz and AXA representatives told us the companies are looking for a given margin. AXA is looking for a margin of 5% and Allianz is looking at 6% on the premiums. What does FBD look for as a margin on the premiums?

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

Kieran O'Donnell: The margin is low teens. What is the premiums figure FBD is looking at?

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

Kieran O'Donnell: Is that a margin of 10% or 11%?

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

Kieran O'Donnell: The FBD margin is slightly higher than the other two companies. What profit did FBD make in 2018?

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

Kieran O'Donnell: Was that in 2018?

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

Kieran O'Donnell: On average, what premiums did FBD charge between 2007 and 2018? Does FBD regard the premiums as coming down in all areas? Between general insurance and motor insurance, have the company's premiums fallen? Someone referred to a figure of 7% lower. Does Ms Muldoon believe, on average, the premiums the company is charging customers for motor and general insurance have fallen between 2017 and...

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

Kieran O'Donnell: Yes, and the current year as well.

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

Kieran O'Donnell: What about Allianz and AXA?

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 motor insurance premiums have come down and general insurance has more or less stayed stable? Would that be correct? At the same time the profits of the companies in 2018 were €37 million for Allianz, which was 7.4% of a margin and AXA had 11.56% or €89 million with €770 million of premiums. What premiums were written by FBD in 2018?

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

Kieran O'Donnell: FBD made a profit of €50 million. What was the margin on €50 million?