The High Court has this afternoon appointed permanent administrators to take over the running of Quinn Insurance.

EMBATTLED Quinn Insurance is losing up to €1.5 million a day over the ban on writing new business in Britain, workers claim.

Ireland's Financial Regulator tonight defended placing beleaguered Quinn Insurance into administration insisting there had been a serious and persistent breach of regulations.

Workers at the beleaguered Quinn Group said today that they were confident the multinational's UK insurance wing would reopen for business this Friday.

The employees of Quinn Insurance have organised a "mass congregation" at the office of the Financial Regulator on Friday.