Tuesday January 28, 2020

ICF deficit fell €50m after Quinn Insurance payment

The payment, which was made in January, resulted in the fund’s overall deficit dropping to €811 million

Ian Guider

Markets Editor

@ianguider
2nd July, 2017

The deficit in the state’s Insurance Compensation Fund (ICF) fell by almost €50 million last year as a result of a €106 million repayment from the administrators of Quinn Insurance. The payment, which was made in January, resulted in the fund’s overall deficit dropping to €811 million, according to figures published by the Department of Finance last week.

However, the outstanding balance owed by failed insurers still stood at more than...

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