Quinn Insurance under the spotlight
Where other insurance companies keep their reserves in government bonds, Quinn held its in cash, writes Richard Curran
With a sale of Quinn Insurance the most likely outcome from the appointment of administrators to the firm, insurance industry experts say a quick sale of the business might not yield an enormous sum for the company’s founder, Sean Quinn.
Quinn’s insurance empire looks incredibly valuable on paper. In 2008, the last year for which accounts are available, it wrote gross insurance premiums of €1.1 billion.
The company accounts show that at...
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