Quinn-direct profits up 29%

Quinn-direct Insurance today announced that it made a pre-tax profit of €89m in the six-month period to the end of June 2005, an increase of 29% over the first half of 2004.

Written premium income increased by 30% to €316m over the same period. Quinn-direct's customer base crossed the 300,000 mark in the period.

The company says it will focus on broadening the commercial liability and property insurance business in the coming months.

It said investment has been made in leading-edge contact-centre technology infrastructure and staff development, with the company now employing over 1,200 personnel in its five offices in Ireland and the UK.

In the full year 2004 Quinn-direct’s share of the Irish insurance market increased steadily with its share of the motor market increasing from 10% to approximately 14%. In liability insurance, the increase was equally strong, growing from 11% to approximately 15% in the same period.

Kevin Lunney, general manager of Quinn-direct, said: “We are extremely pleased with the strong growth and profit being generated by each segment of our business."