Quinn Group suffers losses of €888m

THE Quinn Group made an operating loss of €888.5 million in 2009, according to its latest set of available accounts.

The loss was mainly due to previously published heavy losses at the Quinn Insurance (QIL) division, and compare to operating profits of €239m in 2008.

Similarly, the group’s pre-tax figures lurched from a profit of €83m in 2008, to a loss of €852m in 2009.