Policyholders paid almost €66m in levy after Quinn Insurance collapse

Insurance policyholders last year paid out almost €66m arising from the special 2% levy imposed by Government to deal with the collapse of Quinn Insurance.

Figures provided by Finance Minister Michael Noonan show the amount paid by policy holders of home, motor and commercial insurance to the Insurance Compensation Fund increased last year by 44%, from €45.56m in 2012 to €65.69m.

In a written Dáil reply to Fianna Fáil TD Michael McGrath, Mr Noonan confirmed that a further €15m has been collected this year to the end of March 27, resulting in a total of €126.33m paid out under the levy.