Quinn Insurance reassures brokers

QUINN INSURANCE, from which founder Sean Quinn was forced to step down as chairman due to regulatory breaches, has written to brokers to reassure them the firm has adequate reserve to meet future claims.

The brokers were written to assuage fears that the general assurance group might struggle to meet future claims on its car and other insurance policies.

The group was fined a total of €3.4 million after it emerged it made undisclosed loans of €288m to the broader Quinn Group.