Insurer expected to be sold intact

The number of bidders for Quinn Insurance has fallen to two or three from an original shortlist of five, reports the Irish Independent.

The remaining bidders are thought to include a joint proposal from Anglo Irish Bank and US insurer Liberty Global, the paper reported.

However, the paper, citing sources familiar with the matter, said there was a good chance that the business would be sold intact.

The news follows reports over the weekend that Quinn's bidders wanted to buy the companies policies but did not wish to assume liability for paying future claims from the policyholders.

The Irish Independent said sources suggest at least one of the remaining bidders was stil interested acquiring Quinn in its entirety, including future policyholder claims.