Central Bank deems Quinn Insurance sale a "reasonable prospect"
The head of financial regulation at the Irish Central Bank has said there is a “reasonable prospect that the administrator will look to put it [Quinn Insurance] up for sale” after the Financial Regulator instructed Quinn Insurance to stop writing new business in the UK.
“It was a loss-making business and unprofitable, and we didn’t want to cause any further haemorrhage or losses into Quinn Insurance,” Mr Elderfield said, according to a report in the Irish Times.
The
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