3. Cumulative amounts transferred and reclaimed in respect of dormant accounts and unclaimed assurance policies
Financial Institutions – Dormant Accounts
| Institution | Opening Balance 01/01/2017 € |
Transferred € |
Reclaimed € |
Closing Balance 31/12/2017 € |
Interest paid € |
|---|---|---|---|---|---|
| ACC Loan Management DAC | 6,032,054 | - | (588,315) | 5,443,739 | (13,744) |
| Allied Irish Banks plc | 83,137,727 | 5,887,743 | (2,240,947) | 86,784,523 | (24,177) |
| Bank of America Merrill Lynch Intl Ltd | 154,778 | - | - | 154,778 | - |
| Bank of Ireland | 84,423,125 | 8,527,474 | (3,118,815) | 89,831,784 | (27,384) |
| Barclays Bank Ireland plc | 344,025 | - | - | 344,025 | - |
| BNP Paribas SA | 86,171 | - | - | 86,171 | - |
| Citibank Europe plc | 28,700 | - | - | 28,700 | - |
| Danske Bank Plc | 6,419,678 | 963,662 | (213,677) | 7,169,663 | (113) |
| EAA Covered Bond Bank | 122,119 | - | - | 122,119 | - |
| EBS DAC | 24,823,080 | 5,443,876 | (2,493,632) | 27,773,324 | (109,575) |
| Investec Bank plc | 1,693,712 | 9,103 | - | 1,702,815 | - |
| Irish Bank Resolution Corporation Ltd (in special liquidation) |
617,375 |
- |
- |
617,375 |
- |
| JP Morgan Bank (Ireland) plc | 48,897 | - | - | 48,897 | - |
| KBC Bank Ireland plc | 786,155 | - | - | 786,155 | - |
| Lloyds Bank | 567,088 | - | (113,605) | 453,483 | - |
| Permanent tsb plc | 49,048,928 | 6,416,356 | (1,974,501) | 53,490,783 | (4,617) |
| Pfizer International Bank | 30,310 | 508 | - | 30,818 | - |
| An Post – State Savings Products | 86,501,882 | 3,876,892 | (4,124,497) | 86,254,277 | (15,698) |
| An Post – Post Office Savings Bank | 42,685,724 | 3,278,146 | (567,845) | 45,396,025 | (37,157) |
| RBS NV (formerly ABN AMRO) | 35,455 | - | - | 35,455 | - |
| The Royal Bank of Scotland plc | 420,038 | - | - | 420,038 | - |
| Scotiabank (Ireland) DAC | 92,953 | - | - | 92,953 | - |
| Ulster Bank Ireland DAC | 31,262,237 | 3,038,273 | (478,835) | 33,821,675 | (382) |
| TOTAL | 419,362,211 | 37,442,033 | (15,914,669) | 440,889,575 | (232,847) |
Assurance Companies – Unclaimed Assurance Policies
| Institution | Opening Balance 01/01/2017 € |
Transferred € |
Reclaimed € |
Closing Balance 31/12/2017 € |
Interest paid € |
|---|---|---|---|---|---|
| Specified Term Accounts: | - | ||||
| Ark Life Assurance Co. DAC | 913,369 | 116,145 | - | 1,029,514 | - |
| Aviva Life & Pensions UK Ltd | 3,755,591 | 85,720 | (60,644) | 3,780,667 | - |
| Equitable Life Assurance Society | 53,078 | - | - | 53,078 | - |
| Friends First Life Assurance Co. DAC | 2,570,273 | 398,487 | (82,824) | 2,885,936 | - |
| Irish Life Assurance plc | 9,883,888 | 991,060 | (228,573) | 10,646,375 | - |
| New Ireland Assurance Co. DAC | 756,933 | 62,188 | (74,229) | 744,892 | - |
| Phoenix Life Ltd 2 | 6,060,378 | 781,238 | (60,939) | 6,780,677 | - |
| The Royal London Mutual Insurance Society Ltd |
9,396,505 | 682,379 | (623,972) | 9,454,912 | - |
| St. James Place International plc | 10,649 | - | - | 10,649 | - |
| Scottish Friendly | 602,366 | - | - | 602,366 | - |
| Standard Life International DAC | 1,773,304 | 191,903 | (21,599) | 1,943,608 | - |
| Sun Life Assurance Society plc | 347,039 | - | - | 347,039 | - |
| Zurich Life Assurance plc | 2,438,813 | 787,984 | (213,416) | 3,013,381 | - |
No Specified Term Accounts: |
|||||
| Acorn Life DAC | 149,434 | 36,637 | (39,452) | 146,619 | |
| Ark Life Assurance Co. DAC | 1,345,090 | 955,716 | (437,004) | 1,863,802 | - |
| Augura Life Ireland DAC | 143,640 | 4,648 | (154) | 148,134 | - |
| Aviva Life & Pensions UK Ltd | 3,891,761 | 326,288 | (339,010) | 3,879,039 | - |
| Equitable Life Assurance Society | 21,485 | 1,883 | (1,269) | 22,099 | - |
| Friends First Life Assurance Co. DAC | 1,573,178 | 118,117 | (121,420) | 1,569,875 | - |
| Irish Life Assurance plc | 9,453,611 | 748,676 | (605,540) | 9,596,747 | - |
| New Ireland Assurance Co. DAC | 13,262,223 | 521,048 | (777,205) | 13,006,066 | - |
| Phoenix Life Ltd 2 | 465,607 | - | - | 465,607 | - |
| The Royal London Mutual Insurance Society Ltd |
11,504,315 |
1,307,716 |
(432,143) |
12,379,888 |
- |
| St. James Place International plc | 7,290 | - | - | 7,290 | - |
| Scottish Friendly | 538,684 | - | - | 538,684 | - |
| Standard Life International DAC | 1,558,819 | 6,850,704 | (3,792,043) | 4,617,480 | - |
| Sun Life Assurance Society plc | 59,597 | - | - | 59,597 | - |
| Zurich Life Assurance plc | 3,219,687 | 509,967 | (90,458) | 3,639,196 | - |
| TOTAL (UNCLAIMED POLICIES) | 85,756,607 | 15,478,504 | (8,001,894) | 93,233,217 | - |
| The Escheated Estate Fund | 4,400,000 | - | - | 4,400,000 | - |
| Accrued Reclaims | (99,605) | 99,605 | (454,590) | (454,590) | (2,593) |
| GRAND TOTAL | 509,419,213 | 53,020,142 | (24,371,153) | 538,068,202 | (235,440) |
The amounts transferred to the Fund included accounts denominated in currencies other than euro. The effect of revaluing these accounts at the year end exchange rates would be to decrease the total amount transferred to the Fund and not yet reclaimed by €1,313,103 from €538,068,202 to €536,755,099.
- 2Opening balances changed to reflect reallocation between specified and no specified term accounts, upon Institution instruction. Total combined opening balances remain unchanged.