Daily briefing: Monday - Quinn, the sequel

Sean Quinn is not a man to stay down for long – so, with hindsight, it should be little surprise that he has decided to return to the insurance market with a new insurer, Q2, according to reports in the Irish press today.

But there's no doubt it’s an audacious move. Sean Quinn was ousted from the company he founded, the Quinn Group, in April following a dramatic series of events that saw the group’s insurance arm nearly collapse before being sold to Liberty Mutual and Anglo Irish Bank.

Consumers and brokers have long memories, and with the proposed name 'Q2', Quinn makes open reference to the heritage of his new company.

To win business, whether in Ireland or the UK market, the insurer will have to offer something truly compelling against this backdrop – as well as solid and transparent reassurances about the its solvency.

In the past, Quinn differentiated on price, vastly undercutting rivals in the UK construction and PI markets. It will be very interesting to see whether he has a new strategy up his sleeve, or is coming back for more of the same. Either way, he is bound to encounter huge suspicion, particularly from the broker market.

No apologies from Admiral

No apologies for accepting referral fees from Admiral founder Henry Engelhardt this weekend.

This listed insurer has seen its share price affected by the likely referral fee ban because its gravity-defying financial results are believed to be heavily dependent on such fees. The debate will go quiet over the summer weeks, but will be back with some force in September, when Parliament convenes and the transport select committee re-opens its inquiry into the cost of motor insurance.

Admiral amazed the markets with its robust performance in the face of the rise in bodily injury claims but as a referral fee ban becomes ever more likely, its lucky streak could be coming to an end.