quinn insurance (8)
jimbo79carlow, Carlow Ireland85 Threads 8 Polls 4,259 Postsadministrators have been appointed to quinn insurance today, after the financial regulator took action over concerns at how they were running there business, any thoughts on this ??
jimbo79: administrators have been appointed to quinn insurance today, after the financial regulator took action over concerns at how they were running there business, any thoughts on this ??
The assests they claimed to have were used as security on loans that the mother company received. Insurance companies are very strictly regulated. Their assests MUST be outweigh their liabilities at all times. When the regulator audited Quinn he found that major assests could not be counted as assests as they were technically owned by their creditors. They were trying to pull a fast one and were caught bang to rights. I am glad this new financial regulator is getting tough with all the financial institutions. They have got away with murder for years!
oxfordenglish: The assests they claimed to have were used as security on loans that the mother company received. Insurance companies are very strictly regulated. Their assests MUST be outweigh their liabilities at all times. When the regulator audited Quinn he found that major assests could not be counted as assests as they were technically owned by their creditors. They were trying to pull a fast one and were caught bang to rights. I am glad this new financial regulator is getting tough with all the financial institutions. They have got away with murder for years!
totally agree with you there it's nice to see the rules been properly implemented, if we had been doing this for the past ten year the country might not be in the mess it's in, quinn has now put the jobs of his work force at serious risk which is a shame thoughjimbo79: totally agree with you there it's nice to see the rules been properly implemented, if we had been doing this for the past ten year the country might not be in the mess it's in, quinn has now put the jobs of his work force at serious risk which is a shame though
Well they claim they are making 20 million euro profit a month so I think the jobs are safe. I think something will be worked out with the administrators and the regulator. The new regulator is flexing his muscles and sending out a message I think.
oxfordenglish: Well they claim they are making 20 million euro profit a month so I think the jobs are safe. I think something will be worked out with the administrators and the regulator. The new regulator is flexing his muscles and sending out a message I think.
i wonder how viable quinn health is though the lost alot of business last year with the likes of dell closing, and risk equalisation must be having an effect tojimbo79: i wonder how viable quinn health is though the lost alot of business last year with the likes of dell closing, and risk equalisation must be having an effect to
Yes I think he may have picked the wrong time to get into medical insurance.
oxfordenglish: Yes I think he may have picked the wrong time to get into medical insurance.
think so especially now with so many young people out of work
jimbo79: administrators have been appointed to quinn insurance today, after the financial regulator took action over concerns at how they were running there business, any thoughts on this ??
no,,,,
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Created: Mar 2010
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