asked the Minister for Industry and Commerce if he will state in respect of a recent year the amount of premiums paid to non-Irish insurance companies, and the sums spent by these companies in the State in settlement of claims and in administration expenses.
Ceisteanna—Questions. Oral Answers. - Non-Irish Insurance Companies.
The premiums paid to non-Irish Insurance Companies and to syndicates of Lloyds Underwriters in the year 1955 amounted to £10,831,300. The sums paid by these companies and syndicates in settlement of claims in that year amounted to £6,662,396 and administration expenses, including commission, spent in the State totalled £2,540,766. These figures relate only to insurance business particulars of which are required to be furnished under the Insurance Acts of 1909 and 1936 and do not, therefore, include the 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.
Has the Minister any estimate of the amounts annually invested by these companies in industry and in public loan issues in the Republic?
No.
But there is a substantial sum so invested annually?
I have no information.
We hope there is.
There should be.
I suggest the Minister discreetly inquire to ensure that there is.