Michael McGrath (Cork South Central, Fianna Fail)
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194. To ask the Minister for Finance the amount reported by insurance companies to the Central Bank as having been paid out on motor insurance claims for each of the years 2011 to 2016, inclusive; if the Central Bank has data on the number of claims the total payouts relate to; the value of premium receipts for the years in question; and if he will make a statement on the matter. [34282/17]

Paschal Donohoe (Dublin Central, Fine Gael)
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The Central Bank has advised me that under Solvency I it publishes Insurance Statistics annually and the latest data available is for 2015. 

The Bank has provided me with the following information on Gross Written Premiums and Claims paid for total motor vehicle business for financial years 2011-2015 inclusive, which is detailed in Table 22 of the Insurance Statistics annual publication. This data covers all insurers established in Ireland and those writing business on a freedom of establishment basis i.e. branches. 

It should be noted that Solvency II came into force from 1 January 2016 with the first annual reporting under Solvency II received on 20 May 2017. This data is currently being analysed and verified by the Central Bank.

You should also be aware that insurance undertakings have other sources of income and expenditure including investment income, operating expenses, commission payments etc. Further information on the other components of an insurance undertakings underwriting account is available in the Insurance Statistics annual publication (available at ). 

The Cost of Motor Insurance Working Group recommended that the Department of Finance publish key aggregated metrics on claims costs and trends within the market on a quarterly basis. The First Motor Insurance Key Information Report will be published in the coming days.  This report will include aggregated metrics on the private motor insurance sector which may be of interest to the Deputy.

Finally, the Central Bank has indicated that they do not record information regarding the number of claims the total payouts referred to above relate to.