In addition, insurance companies derive enormous and, in some cases, unacceptable profits from their businesses in Ireland. Ms Dowling's committee found that British based insurance companies derive a much higher rate of profit from their Irish operations than they do from their domestic operations and that is unacceptable. While the Irish Insurance Federation produces reports, which state companies make losses on parts of their business, it has accepted this year that the profits of its members were almost €200 million, which is not a piddling sum. Insurance is a profitable business and companies are taking significant profits out of a small market. They are, therefore, partly responsible for the level of premia that apply.