Quinn Direct drives half-year profits up by 8% to €133m

HALF-YEAR profits at insurer Quinn Direct rose by just over 8% to €133 million.

Quinn Direct drives half-year profits up by 8% to €133m
Thu, 09 Aug, 2007 - 01:00
Ian Guider

The company, owned by Cavan-based billionaire Sean Quinn, benefited from strong gains on its investment portfolio for the rise in profits.

Although premium income was ahead by 25%, or €98m, the continued high cost of settling claims meant profits from underwriting fell by €4m to €84m.

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