‘No proposal by Quinn family for insurance arm’

THE administrators in charge of Quinn Insurance (QIL) have said that there is no takeover proposal by the Quinn family on the table for the business, despite a Quinn Group statement to the contrary.

Earlier this week, QIL’s administrators told staff that there was no Quinn Group involvement with any Anglo Irish Bank interest in the insurance company.

The sale of QIL is expected to be concluded — pending regulatory approval — by the end of this month. It is currently believed that two bidders are in the frame; in the form of Zurich Insurance and a consortium featuring Anglo and US insurer, Liberty Mutual.