asked the Minister for Industry and Commerce if he will give details of the total profits for all insurance companies based in Ireland for each of the last three years.
Ceisteanna—Questions. Oral Answers. - Insurance Company Profits.
63.
The total figures of the underwriting profit or loss on their Irish business of all the non-life insurance companies operating in this country are as follows:—
|
£ |
|
|
1965— |
Loss 73,122 |
|
1966— |
Profit 622,869 |
Exact details of 1967 operations will be available shortly and it is expected that they will show a loss of about £800,000.
It is not possible to give similar figures of the profits of life assurance companies since profitability is determined on the basis of valuations made at intervals which may be as much as five years.