Administrators demand UK commercial lines green light
Administrators for Quinn Insurance are applying to the Irish Financial Regulator to re-open some commercial lines of business in the UK, Ireland’s Sunday Tribune reports.
Regulatory sources said officials would work with the administrators to re-open parts of the business if possible, but there were still major solvency issues threatening the company.
The sources were sceptical that restoring UK lines of business on a limited basis would do much to solve Quinn Insurance's profitability, solvency and employment problems. Quinn was making losses in the UK.