Quinn investigation focusing on loans

The Irish Financial Regulator’s Quinn investigation is focussed on who signed off the guarantees to other parts of the Quinn Group and what authorisation they had, the Irish Independent reports.

These last two areas remain from the 11 areas of concern in the initial investigation. The gardai and the corporate enforcement watchdog Paul Appleby are being kept informed, the paper says.

Quinn expects to be back on UK aggregators sites soon after it was allowed back in to the UK market to write insurance for learner drivers. "We are currently working with all of the well-known UK price comparison sites to return to their panel of insurers," a spokeswoman said, adding that the insurer expected the process to be "completed over the coming days".

Quinn's administrators still hope the regulator will give it permission to re-open more UK and Northern Ireland business lines, including the general private motor.

They are hoping to announce details before they outline plans for job cuts to staff on Friday.