Monday October 26, 2020

ICI bailout company has claims of €76million

The administration company set up by the state after its bailout of the Insurance Corporation of Ireland (ICI) in 1985 had net claims of €76 million outstanding at the end of last year.

17th June, 2006

Icarom plc, which was formed to handle the liabilities of the former AIB-owned insurance group, had a deficit of €218 million at year-end, down from €220 million in 2004, according to accounts just filed.

The company was set up after ICI collapsed with debts of €400million.The state intervened, to prevent ICI bankrupting the rest of the AIB group, by nationalising the insurer and placing it in administration.

Under a deal struck between AIB and...

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader



Unlimited Access for 1 Month

Then €19.99 a month after the offer period.

Get basic
*New subscribers only
You can cancel any time.



€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.




90 Day Pass

You can cancel any time.

2 Yearly



Unlimited Access for 2 Years

This product does not auto-renew

Team Pass

Get a Business Account for you and your team

Share this post

Related Stories

The best writing and and the biggest stories of 2019 from the Business Post

Richie Oakley | 9 months ago

Denis O’Brien is back in court, residents continue to fight the Council on halting site and a row surfaces in government over rent control proposals

Leanna Byrne | 5 years ago