30/11/2011

Quinn Insurance Jobs 'Secure'

Quinn Insurance has said the future of the 1,500 jobs at the company will be secure.

Liberty Mutual Group and the Anglo Irish Bank only recently completed the acquisition of Quinn Insurance, the company formerly owned by former billionaire, the - bankrupt Fermanagh businessman, Sean Quinn.

The new owners said that all existing Quinn Insurance employees and its insurance policies in the Irish Republic will transfer to a new Irish firm, which will trade under the name Liberty Insurance. Liberty and the state-owned lender Anglo Irish also have an option to acquire Quinn's UK business from administrator Grant Thornton over the next 12 months.

The company plans to rebrand under the Liberty name in the first three months of next year.

That's good news for the staff, as during the last 18 months, when the company was under administration, its business shrank by up to 40% and it was forced to make 900 staff redundant.

(BMcC)

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