Quinn to hike premiums amid €127m losses

QUINN INSURANCE made operating losses of €127 million last year and it is planning to hike premiums by double-digit figures in the next three months.

According to provisional figures, Quinn, which is currently in administration, made a loss of €41m in Ireland and €86m in Britain last year.

In Ireland, the company took a €15m hit on the health insurance levy and another €15m was lost on the floods and the big freeze. Figures also showed that Quinn recorded a writedown of certain assets of €677m last year.