Tuesday 12 December 2017

Quinn Jnr remains on insurer's payroll despite quitting boards

Laura Noonan

SEAN Quinn Jnr remains on the payroll of Quinn Insurance despite stepping down from two of the insurer's shareholder boards, a spokeswoman confirmed last night.

Documents just published by the Companies' Office show Mr Quinn Jnr stepped down from the boards of Quinn Financial Services Holdings (QFSH) and Quinn Investments on August 31 .

QFSH is the immediate parent company of Quinn Insurance Limited (QIL), while QFSH itself is owned by Quinn Investments. All are ultimately owned by the Quinn Group, though QIL has been run by court-appointed administrators since April and is now on the market.

Mr Quinn Jnr was listed as QIL's operations director after a boardroom re-shuffle in early 2009. More recently, he was charged with developing QIL's growing UK business and based out of London.

The insurer's ability to write business in the UK has been substantially curbed by the administration process, with QIL confined to the personal motor market after being banned from commercial business.

Despite this scaling back in the UK and his recent resignation from the two QIL shareholder boards, a spokeswoman for the insurer said Mr Quinn Jnr continues to work for QIL.

"QIL confirms that Sean Quinn Jnr is a QIL employee working within the commercial division focusing on broker relationships and larger commercial customers in the manufacturing and construction segments," she said.

The insurer's administrators declined to comment beyond the QIL statement.

Mr Quinn Jnr's resignations are included among a raft of directorship changes submitted by Quinn-related companies in recent days.

Quinn Group executive Kevin Lunney has also resigned from the boards of QFSH and Quinn Investments, while Quinn Group chief executive Liam McCaffrey and Quinn Group financial controller Sinead Geoghan have joined both boards.

Ms Geoghan has also joined the board of Quinn Group, Quinn Radiators and Quinn Barlo.

Meanwhile, Dara O'Reilly has stepped down as director of Quinn Radiators and Quinn Barlo, and as secretary of Quinn Investments, Quinn Group and QFSH.

Irish Independent

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