Vol. 426 No. 3
84 Mr. Callely asked the Minister for Health if he has satisfied himself that the Voluntary Health Insurance Board has the required reserves under EC regulations for renewal of its licence; and if he will make a statement on the matter.
Under the terms of the Third EC Directive on Non-Life Insurance it will be mandatory from July 1994 for the Voluntary Health Insurance Board and other insurers to maintain reserves in line with EC solvency margin requirements. My Department will be closely monitoring the financial performance of the board to ensure that the EC solvency margin requirements are met.
