State will not claw back Quinn bill until 2030

The Department of Finance now estimates that it will take until 2030 for the Insurance Compensation Fund to repay the state for bailing out Quinn Insurance.

Ian Kehoe - avatar

Ian Kehoe

24th February, 2013

The full legacy of Sean Quinn's foray into the insurance market is becoming clear, with the Department of Finance now estimating that it will take until 2030 for the Insurance Compensation Fund (ICF) to repay the state for bailing out Quinn Insurance.

New figures show that the state has advanced €455 million to the fund last year to help plug the gap at Quinn Insurance, with a further €154 million advanced to the fund so far...

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