Zurich, Anglo eye Quinn Insurance

ZURICH Insurance and a joint approach by Anglo Irish Bank and US insurer, Liberty Global, are understood to be the two bidders left in the frame to acquire Quinn Insurance (QIL).

While Anglo has been linked for some time with some kind of approach for the entire Quinn Group — due to the nationalised bank being owed €2.8bn by the Quinn family — it only formally joined the race to take control of QIL hours before the final deadline for expressions of interest last September.

At that stage, it was thought that between 20 and 30 Irish and international insurance companies were interested; but a shortlist of around four players (including the aforementioned names and Allianz and Travelers Insurance) was speculated upon.