Quinn departure may boost insurance firm's chances

The departure of Sean Quinn from the Board of the Quinn Group last night could boost the chances of survival for the insurer, which plans to lay off 900 staff.

The Cavan businessman and his wife announced they will step down from their positions last night.

The Quinn Group has said it will "reluctantly" explore the possibility of selling the insurer in an attempt to protect Quinn Insurance's remaining 1,600 workers.

Sunday Business Post Chief News Correspondent Ian Keogh has said Mr Quinn's position presented "a conflict of interest".