QUINN INSURANCE (QIL) made a total loss of €706 million in 2009 and is likely to report further losses of €160m for last year.

US insurer, Liberty Mutual has agreed to pump €102 million into Quinn Insurance (QIL), upon taking control of the bulk of the loss-making company.

Quinn Insurance, the leading insurance firm founded by tycoon Sean Quinn, had losses of €706m in 2009.