Speculation over six figure redundancy payment
Colin Morgan, chief executive of Quinn Insurance has quit “to pursue other opportunities,” as revealed exclusively by Insurance Times this week.
In an official statement Colin Morgan said: "After almost 7 years here I have decided to leave Quinn Insurance. This has been a very difficult decision to make but given the changes that have occurred in recent months I feel it is an opportune time for me to pursue other opportunities in my career.
I have enjoyed the successes and challenges at Quinn Insurance and firmly believe that this business will recover from its current difficulties and, in some form or other, go on to achieve long term success given the strength of the business model and the quality of the people."
Administrator’s statement
Michael McAteer, joint administrator of Quinn Insurance said: "Colin Morgan has decided to leave QIL to pursue other opportunities. We would like to acknowledge Colin's contribution to QIL over the past 7 years including the period since the company entered administration and wish him all the best in the future."
The Irish Independent suggest he is taking redundancy of at least €135,000. It reports that his house in Kells, Co Meath is up for sale on property website Daft.ie with an asking price of €395,000.
