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10/09/2010
Quinn Customers 'Pay For Losses'
There is to be a 10% increase in motor and home insurance for Quinn Insurance customers in the coming months after news today that the struggling cross-border business reported operating losses of €127m for last year.
County Fermanagh-based owner Sean Quinn owes Anglo Irish Bank €2.8bn after Quinn Insurance was put into administration by the High Court in Dublin in March after the Financial Regulator for Ireland raised concerns about its solvency.
Hit by both the health insurance levy and the cost of covering claims to do with last winter's bad weather, Quinn Insurance, which provides cover for one in five motorists in Ireland, says home and motor premiums are likely to increase by double digit figures in the next couple of months.
Administrators say the firm is performing robustly, but figures out this morning show a loss for 2009 of over €750m.
The bulk of the loss, at €677m, stems from a charge to do with Quinn's controversial inter-group guarantees that pushed Quinn Insurance into administration last spring.
(BMcC/KMcA)
County Fermanagh-based owner Sean Quinn owes Anglo Irish Bank €2.8bn after Quinn Insurance was put into administration by the High Court in Dublin in March after the Financial Regulator for Ireland raised concerns about its solvency.
Hit by both the health insurance levy and the cost of covering claims to do with last winter's bad weather, Quinn Insurance, which provides cover for one in five motorists in Ireland, says home and motor premiums are likely to increase by double digit figures in the next couple of months.
Administrators say the firm is performing robustly, but figures out this morning show a loss for 2009 of over €750m.
The bulk of the loss, at €677m, stems from a charge to do with Quinn's controversial inter-group guarantees that pushed Quinn Insurance into administration last spring.
(BMcC/KMcA)
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06 May 2010
Quinn Steps Back As Stormont Steps In
Just hours after news that Sean Quinn is to stand down from the board of the troubled Quinn Group, a Stormont nominee is to step in to co-ordinate the NI Government's response to the situation at Quinn Insurance.
Quinn Steps Back As Stormont Steps In
Just hours after news that Sean Quinn is to stand down from the board of the troubled Quinn Group, a Stormont nominee is to step in to co-ordinate the NI Government's response to the situation at Quinn Insurance.
09 April 2010
Garda May Be Called As Quinn Group 'Short'
The Quinn Insurance saga has taken another twist with a possibility the case may be referred to the Irish police, An Garda Siochana. There have been allegations that the company is some €100 million 'short' to cover its insurance policies.
Garda May Be Called As Quinn Group 'Short'
The Quinn Insurance saga has taken another twist with a possibility the case may be referred to the Irish police, An Garda Siochana. There have been allegations that the company is some €100 million 'short' to cover its insurance policies.
14 April 2010
Committee Should Grill Lenihan Over Quinn
The Irish Opposition party has called for the minister to face questions before the Oireachtas Finance Committee after Quinn insurance was taken into administration yesterday.
Committee Should Grill Lenihan Over Quinn
The Irish Opposition party has called for the minister to face questions before the Oireachtas Finance Committee after Quinn insurance was taken into administration yesterday.
16 April 2014
Local Insurance Company Removes Common Van Insurance Obstacles
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Local Insurance Company Removes Common Van Insurance Obstacles
Local company, Find Insurance NI, is going that bit further to make life easier for their van insurance customers. Whether you use your van for business or pleasure, making sure your insurance policy is up to date is one of those necessary evils that you just can’t avoid. The team at Find Insurance NI understand that your time is precious.
10 May 2010
Laing O'Rourke Chase Quinn Deal
A Kent-based multi-national construction business is eyeing-up the troubled Quinn Group. Laing O'Rourke is understood to have held talks over a potential takeover of parts of its business. Delegates from the construction giant spent two days last month at the Quinn headquarters, in Co Cavan, it is reported.
Laing O'Rourke Chase Quinn Deal
A Kent-based multi-national construction business is eyeing-up the troubled Quinn Group. Laing O'Rourke is understood to have held talks over a potential takeover of parts of its business. Delegates from the construction giant spent two days last month at the Quinn headquarters, in Co Cavan, it is reported.
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Northern Ireland WeatherToday:A showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
