asked the Minister for Industry and Commerce if he will state in respect of the year 1954 the amount of premiums collected by non-Irish owned insurance companies in the Republic of Ireland.
Ceisteanna—Questions. Oral Answers. - Insurance Premiums.
The total amount of premiums collected here in 1954 by non-Irish owned insurance companies and by syndicates of Lloyd's underwriters was £10,033,703. This figure relates only to insurance business particulars of which are required to be furnished under the Insurance Acts of 1909 and 1936 and does not, therefore, include marine, aviation and transit business to which the Acts do not refer and for which returns are not required to be made by the companies.
It should not be assumed that the premium income collected is the amount of the drain on the national income as the amounts paid by way of claims to policy holders and the expenses of management incurred within the State have to be deducted.