asked the Minister for Industry and Commerce if he can state the number of non-national owned insurance companies operating in the Republic of Ireland; the total amount of money collected by them in each of the past five years, and what percentage of that sum leaves this country.
Ceisteanna—Questions. Oral Answers. - Non-National Insurance Companies.
The number of non-national owned insurance companies operating in the Republic of Ireland is 65. In addition, 51 syndicates of Lloyd's Underwriters transact insurance business in this country.
The total amount of money collected by non-national owned insurance companies and syndicates in each of the years 1944 to 1947 was as follows:—
|
1944 |
£4,132,344 |
|
1945 |
£4,488,543 |
|
1946 |
£5,119,627 |
|
1947 |
£5,567,087 |
I am not at present in a position to furnish the information sought for the year 1948 as the statutory returns will not be available until the end of the present year.
I am unable to state precisely what percentage of the total sums collected by foreign owned insurance concerns left the country each year, but it did not exceed 11.
Is any legislation contemplated to prevent this drain of money from this country every year?
And, if there is legislation, will the Fine Gael Party oppose it in the future as they did in the past?
I am not concerned with what the Fine Gael Party did in the past. I am concerned with the present.
The outgoings involve only 11 per cent. and legislation is not contemplated at the moment.