Quinn firm seeks health policies move

The joint administrators of Quinn Insurance Limited (QIL) want the High Court to approve the transfer of 5,000 health policies to a subsidiary of one of the world’s biggest insurance providers Swiss Re.

The polices, which provide payments to holders in the event they become sick, are all held by people living in Ireland. The proposed transfer is part of the orderly unwind of QIL’s business.

The company, established by former billionaire businessman Sean Quinn, was put into administration following an application by the Financial Regulator more than four years ago over serious concerns how the group was being run.