Fiona O'Loughlin (Kildare South, Fianna Fail)
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208. To ask the Minister for Finance the number of customers impacted by the failure of a company (details supplied); and if he will make a statement on the matter. [13397/19]

Paschal Donohoe (Dublin Central, Fine Gael)
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Qudos Insurance A/S (Qudos) was authorised and prudentially regulated by the Danish Financial Services Authority (DFSA). It sold non-life insurance policies (mainly motor and home policies) in Ireland through Patrona Underwriting Ltd. on a freedom of services basis.

On 20 December 2018, the DFSA notified the Central Bank that Qudos had been declared bankrupt. Existing policies continued to remain in force but will automatically be cancelled on 29 March 2019 i.e. three months after the date of the bankruptcy.

In response to the Deputy’s question as to the number of customers impacted by the failure of Qudos, my officials have sought the relevant information from the Central Bank. Figures provided last week indicate that, at end-November 2018, Qudos had 51,012 policyholders in Ireland. However this has now fallen substantially due to policies being transferred to new insurers. The latest policyholder figures in respect of Qudos Insurance as of 20 March 2019 are set out below: