Vol. 396 No. 6
139 Mr. S. Barrett asked the Minister for Industry and Commerce the conditions under which the Insurance Corporation of Ireland is being sold to a French group; and whether the sale will mean the abolition of the special levy on all insurance premia.
With regard to the conditions under which the Insurance Corporation of Ireland (ICI) is being sold, I would refer the Deputy to my reply to Parliamentary Question No. 27 of 15 February 1990. The specific details of the sale are a matter for the administrator of ICI.
So far as the insurance compensation fund levy is concerned, it is used exclusively to finance the administration of Primor plc (formerly known as PMPA Insurance plc). It is expected that the levy will cease during 1993 when it is no longer required for Primor plc.
