Liberty given 12 months to decide whether to snap up Quinn’s UK motor book
Liberty Mutual Group finally completed the deal to buy Quinn, and have been given 12 months to decide whether to buy its UK motor business from administrator Grant Thornton.
Buying the Quinn UK motor book would give Liberty a significant presence in the young driver market and an option to pursue telematics.
Quinn UK lost premium last year when it was forced to hike prices by the Irish regulator, however, there is still a rump of business left with UK motor. Details of its gross written premium have not been released.
After a more than a year in protracted negotiations, Liberty and Irish bank Anglo Irish bought Quinn Insurance.
All existing Quinn Insurance employees and its insurance policies in the Republic will transfer to a new Irish firm, which will trade under the name Liberty Insurance.
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