Black Friday Looms For Quinn Insurance

The axe is looming for hundreds of staff at a border insurance business.

Workers at all the beleaguered Quinn call centres will be briefed on the plans tomorrow afternoon, after which the administrators will enter into a period of consultation with staff.

The restructuring relates primarily to Quinn Insurance Ltd's businesses in the UK, many of which have been unprofitable where the insurer is currently being allowed to only partially re-enter the insurance market there.

However, while most of the job losses will be in the Irish Republic, the centres at Enniskillen and in Manchester will also be seriously affected, even though much of the UK business is handled by staff at Quinn's offices in Dublin, Cavan and Navan.
News Image
The redundancies will be voluntary and will take place over a period of time.

While the details of the package to be offered to employees have not been revealed, it is understood workers will be offered more than the statutory redundancy.

Today it emerged that the administrators have drawn up plans to make about 800 staff redundant.

RTE is reporting their plans to downsize, and will reduce numbers makes to about a third of the staff employed by the company.

Currently, about 600 people are employed by Quinn Insurance in County Fermanagh.

In April, it was placed into administration after the Irish financial regulator said he believed its assets had been overstated by about €450m.

The company was ordered not to write any new UK business. Those restrictions were later partially eased.


Related Northern Ireland News Stories
Click here for the latest headlines.

15 April 2011
Quinn Barred From Own Insurance Firm
A leading Irish entrepreneur is to loose control of the insurance business he personally founded after it ran into financial problems. Sean Quinn and his family will no longer have any role in the management of the Quinn Group following a restructure.
29 April 2011
Quinn 'Jobs Safe' As Company Name Dropped
Co Fermanagh and Co Cavan-based Quinn Insurance is soon to be no more after it was confirmed yesterday that Liberty Mutual Direct Insurance Company Ltd, a joint venture between US giant Liberty Mutual and new entity JVNewco, will take over of assets and liabilities with a €200m (£177m) investment.
30 March 2010
Quinn Insurance Taken Into Receivership
There is widespread shock and concern at news that Co Fermanagh's Quinn Insurance Group has been put into administration by the High Court in Dublin.
06 September 2019
Other News In Brief
Ulster Carpets Delivers £28k Boost To NI Hospice Portadown-based firm Ulster Carpets has presented NI Children's Hospice with a cheque for an amazing £28,246 following a three year partnership with the charity. Employees at Ulster Carpets raised the funds by taking part in marathons and hosting various bacon butty, stew and dessert mornings.
23 April 2010
Quinn Staff Criticise Regulator Restrictions
Workers at the beleaguered Quinn Insurance in Co Fermanagh and Co Cavan have said some 1,000 jobs are now at risk after the financial regulator's decision to deny the company the ability to fully re-enter the UK market. Administrators in charge of the business warned employees yesterday some of the 2,400-strong workforce were likely to be let go.