Insurer sees profits fall as Harney joins

Pre-tax profits at the insurance firm that former tánaiste Mary Harney has joined as a director fell by 15.5% last year, from €39.6m to €33.5m.

Ms Harney was appointed to the board of Euro Insurances Ltd in February of this year. New accounts show the firm’s revenues declined in the 12 months to the end of December last by 29%, from €208.8m to €146.7m.

The former health minister is one of five board members on the Dutch-owned firm, which paid €34.6m in dividends to shareholders last year.