Auditors, administrators, accountants, and a €1bn case

Auditors, administrators, accountants, and a €1bn case View Gallery
The PwC offices at Spencer Dock, Dublin

The London office of Mazars claims that Quinn Insurance was under-provisioned by €600 million

A new investigation into Quinn Insurance’s finances has revealed that the bust insurer should have set aside an additional €600 million to cover future claims over a four-year period between 2005 and 2008.

The London office of Mazars examined the provisioning policy of Quinn Insurance prior to its collapse into administration in 2010. Based on the Mazars analysis, Quinn Insurance had under-provisioned by over €600 million during that four-year period alone.

The new analysis emerged last week as part...

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