Quinn liabilities acquired by Catalina

A deal has been agreed for the transfer of Quinn Insurance’s portfolio of UK and European legacy liabilities to a subsidiary of Bermuda-based Catalina Holdings.

Catalina, through its Irish subsidiary Catalina Insurance Ireland, has signed a definitive agreement with Quinn Insurance for the transfer of liabilities from the company established by former billionaire Sean Quinn, which is currently in administration.

The joint administrators of Quinn Insurance, Michael McAteer and Paul McCann of Grant Thornton, said they were pleased to confirm the deal, subject to High Court approval.