Thursday 27 April 2017

Deeply painful losses may be just tip of the iceberg

Insurance is a tough business at present with tight margins and rising claims

FINANCIAL fortunes are painstakingly built up over decades, but often destroyed in a matter of months. A year ago, Sean Quinn and family were reported to be worth €2.5bn, employing 6,121 people at sites all over Ireland and the UK.

Yesterday the net worth of Quinn and family had a minus in front of it and the company was employing just over 5,000 people, with the danger lurking that more staff may yet have to go.

Please sign in or register with Independent.ie for free access to Opinions.

Sign In

Don't Miss