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Thread: Quinn Insurance

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    Politics.ie Member hammer's Avatar
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    Default Quinn Insurance

    Interesting interview with the 50p man.

    He said that the Government were wrong and that Quinn Insurance are "making" €1 MILLION PER DAY.

    Well if they are people should move their business immediately as they are being overcharged

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    assuming that is correct, how does making profit = overcharging?
    Happiness is a dry martini and a good woman … or a bad woman.
    –George Burns

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    Well, given that Sean Quinn was 25% owner of Anglo Irish bank during the period of its worst criminal activities, I think many people will want to know why that million a day is not going to pay off Anglos debts. Many will also ask why a 25% owner of a criminal conspiracy is not in a cell facing police questioning.

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    Politics.ie Member Nipper's Avatar
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    His take on the regulator is the perfect illumination on corporate culture in Ireland

    he admits that they breached the regulation but what harm?

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    Politics.ie Member Dreaded_Estate's Avatar
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    Quinn is not one bit happy about the actions of the new regulator.

    The bottom line is if an insurance company is below the minimum solvency margin then they are insolvent. Assets above liabilities isn't sufficient.

    p.s. I would be surprised if Quinn Insurance was making €1m per day on assets of €2bn.

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    Politics.ie Member hammer's Avatar
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    Profit good. Profit of €1 million a day bad. Redistributing ordinary peoples money to private family at that rate bad. They aren`t the quickest either in paying out claims. Didn`t the accuse some person of jumping from a balcony in Ballymun when no such thing happened.

    €1 million a day to cover his Anglo losses maybe.

    Move your business creates competition in the sector. Good for consumers.

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    Politics.ie Member hammer's Avatar
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    BTW how could 5,500 jobs be at risk. The administrator operates the business as a going concern. The administrator can sell the business to a 3rd party. Who gets the sales price. The shareholders.

    Interesting to hear that not one minister returned his calls

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    Quote Originally Posted by hammer View Post
    Profit good. Profit of €1 million a day bad. Redistributing ordinary peoples money to private family at that rate bad. They aren`t the quickest either in paying out claims. Didn`t the accuse some person of jumping from a balcony in Ballymun when no such thing happened.

    €1 million a day to cover his Anglo losses maybe.

    Move your business creates competition in the sector. Good for consumers.
    Insurance should be a state run activity. Allowing thieving spivs like Sean Quinn to get their filthy paws on it is just insanity.

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    Quote Originally Posted by Cael View Post
    Insurance should be a state run activity. Allowing thieving spivs like Sean Quinn to get their filthy paws on it is just insanity.
    the state would do fine in collecting the premiums ,but claim processing could leave a lot to be desired.

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    Politics.ie Member hammer's Avatar
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    Wasn`t it Quinners secret CFD position that helped bring Anglo down

    Then Anglo got its cronies together, gave them free money to buy the share overhang.

    Maybe for the regulator this is PAYBACK.

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