Quinn Insurance collapse to cost another €912m

Consumers will be on the hook for the collapse of Quinn Insurance for close to another decade-and-a-half, despite already paying out more than €236m for its failure.

Customers have been forking out to cover the cost of Quinn’s demise since 2012 when a 2% levy on all non-life insurance premiums was introduced.

A total of €236.46m has been collected by the levy since its introduction almost four years ago.