IL&P sets sights on Quinn Health

IRISH Life & Permanent (IL&P) is set to become the new owner of Quinn Healthcare — the latest element of the Quinn Group of businesses set for sale — before the end of the year.

IL&P, which is facing its own restructuring process in the coming months, has been mooted as a possible buyer for the health and life insurer for some time.

Over the weekend, a report suggested that IL&P was “poised” to buy the company. However, industry sources suggested yesterday that while nothing is thought to be imminent, IL&P is in “a good position” to conclude a deal and that such an outcome could be expected by August or September.