Quinn Insurance Limited (QIL) made an operating loss of €644m loss for the full year of 2009, forcing its former parent to make a €852m pre-tax loss.
“The Group’s 2009 results show the full effects of the losses incurred by QIL during the period, which are hugely disappointing,” said Quinn Group Limited chief executive Paul O’Brien said in a statement.
QIL was placed into administration in March 2010, after which its results were no longer included as part of Quinn Group Limited’s continuing operations. In April a joint venture between US insurer Liberty Mutual and Anglo Irish Bank agreed to buy the troubled insurer.
“I would like to wish the new owners of QIL every success in their efforts to restore the business to full strength and thereby protect the jobs in that business,” O’Brien said.
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