The insurance group recorded pre-tax profits of £85.15m
Quinn Insurance last year returned to profit, recording pre-tax profits of €99.8m (£85.15m).
The results come despite the group’s revenue dropping from €639m to €223m, following the sale of its Irish general insurance business and healthcare business.
Accounts filed by Quinn show that its profit improved by €217.7m, following a pre-tax loss of €117.9m in 2011.
The positive results were mainly because of the €107m profit generated by the insurance business from foreign exchange-related reserve releases and investment income, the company said.
Claims also decreased during the year to to €82m from €700m in 2011, because of the sale of the Republic of Ireland business to Liberty Insurance.
The profit last year reduced the group’s accumulated losses from €1.74bn to €1.63bn.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
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