Ted Kelly could chair Irish insurer if his firm’s bid succeeds
US insurance group Liberty Mutual is planning to make chief executive Ted Kelly non-executive chairman of Irish insurer Quinn, the Irish Times reports.
Kelly would chair the company if Liberty’s joint bid with Anglo Irish Bank (AIB) for Quinn were successful. The paper quoted sources close to the plans as saying that Kelly was keen to take an active role in running Quinn.
David Long, president of Liberty’s international business division, will also play a key role in running Quinn if the bid succeeds, the Irish Times said.
Under the joint Liberty/AIB proposal, Liberty would take operational control of Quinn but AIB and Liberty would take joint responsibility for recovering the loans due to the company from the Quinn family.
There are thought to be three bidders for the Irish insurer.
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