Results 11,641-11,660 of 26,198 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: Yes, it is about the margins the companies say they need to be able to operate in. The actual margins are well above those figures.

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

Kieran O'Donnell: The company is still making above the margin that it sought to make, which is 5%.

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

Kieran O'Donnell: I accept that point. However, the backdrop we see is premiums being quoted for older people and younger people at exorbitant rates of €1,000 or €2,000. We have to ask why.

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

Kieran O'Donnell: How much further does Mr. Bradley anticipate they will come down during the course of 2019?

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

Kieran O'Donnell: Does Mr. Bradley anticipate they will come down further in the coming weeks?

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?