Anyone insured (anything) with Quinn???

[S1MMA]

Looks like we may see them going down today........ only what I've heard.........

[Steve H]

Where did you hear this???

[S1MMA]

From a London market broker, could be someone having a laugh on a Friday afternoon, but apparantly there will be an announcement later today.....

Lets see.........

[mr_krissy_kris]

Im with Quinn, id also like to know where you heard this?! Be a nightmare for me if they are, cheapest re-quote by £300

[patmahe]

Just, left them last week to sign up with a different crowd. I know that the owner made some poor investments (banks just before things crumbled) but I didn't think it'd be enough to sink the company.

[S1MMA]

It's not the personal lines side that concerns me if they go down - more the 3000+ naieve Solicitors currently insured with them!

Edited by S1MMA on Friday 28th November 21:18

[Heskey]

My brother is with Quinn I think

[RsSpyder]

I'm with Quinn, much cheaper than anywhere else so this will be a right pain in the arse..

[S1MMA]

in the press earlier this week:

"QUINN INSURANCE REASSURES BROKERS - Quinn Insurance, from which founder Sean Quinn was forced to step down as chairman due to regulatory breaches, has written to brokers to reassure them the firm has adequate reserve to meet future claims. The Irish Examiner says that the brokers were written to to assuage fears that the general assurance group might struggle to meet future claims on its car and other insurance policies. The group was fined a total of €3.4 million after it emerged it made undisclosed loans of €288m to the broader Quinn Group. In a letter to the brokers Richard Stafford, commercial director, said the company has no issues regarding its ability to meet future liabilities. He also denied there would be any impact on the business this year as a result of the fine."

[Steve H]

That tells me all is well.........

[S1MMA]

I wouldn't say all is well, although yes - the public message was not to worry.

My source said there will be an announcement at 3pm, so at 3.01pm everyone can either panic or relax.

[insurance_jon]

I wouldn't surprise me they have been writing things too cheap for too long.

[Steve H]

I agree with you jon, we lost a very large fleet risk to them early in the year which they wrote at a suicidal rate!.... if they do go pop I wont gloat or anything!!!!

[insurance_jon]

I will, they are our biggest competitor in the fleet market.

[Steve H]

I had my tongue firmly in my cheek!!!...I am with you all the way Jon

[CR0X]

Sean Quinn is worth a fair bit of two ... we deal with Quinn Glass, and generally whatever they do, they do it flipping well.

Typical Irishman to bend the rules slightly in places but Quinn Insurance is pretty big in Ireland IIRC, and certainly growing in the UK.

Sean would not like a black mark against his name ...

[mr_krissy_kris]

RsSpyder said:

I'm with Quinn, much cheaper than anywhere else so this will be a right pain in the arse..

+1
Minus 15 minutes till someone can enlighten us.

[insurance_jon]

any news from anywhere?

[Steve H]

Cant see anything

[Steve H]

any news yet S1MMA?