Deficit in state’s insurance back-up fund reaches €862m
Collapse of the Quinn Insurance in 2010 has left the state still on the hook for €1.1 billion
The deficit in the state’s Insurance Compensation Fund (ICF) rose last year, despite a €100 million repayment from the administrators of the failed Quinn Insurance.
The deficit in the ICF hit €862 million at the end of last year, up from €831 million, according to figures published by the Department of Finance.
Last December, the High Court approved the €100 million payment from the Quinn administrators Grant Thornton.
However, that did not offset ...
