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    Quinn Healthcare sold

    Quinn Healthcare sold

    Health insurer Quinn Healthcare has been sold following a bid by senior management with Swiss Re as underwriter, it was announced today.

    "Quinn Healthcare has confirmed today that talks have been successfully completed which has led to the sale of the company," a statement issued today on behalf of management confirmed.

    "A bid by senior management, enabled by Swiss Re as the reinsurer, has been successful."

    The terms of the sale were not disclosed.

    Quinn Healthcare, formerly BUPA Ireland, is the second largest health insurer in Ireland with nearly 500,000 members.

    The company said it will be 'business as usual' for members following the sale, adding that the move "secures the jobs of 334 team members in Cork".

    “This is great news for our members and the Quinn Healthcare team alike," said Managing Director Dónal Clancy.

    "Since the company was acquired from BUPA in 2007, it has operated as a largely independent entity.

    "This independence will be further confirmed by the sale to members of the management team, which will also be accompanied by the appointment of Elips Life (a wholly owned subsidiary of Swiss Re) as the underwriter.”

    Swiss Re's Bruce Hodkinson said: "With our global stature and experience in life and health insurance we see this as an excellent fit with our business."

    The company had along with other elements of the wider Quinn Group been placed into administration last year by the Financial Regulator.

    Quinn Healthcare also announced last month that it is to raise its prices by an average of 12%.

    The company said the price hike, which comes into effect from January 1, was in response to continued pressure, including ongoing increases to the Health Insurance Levy.


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    "Everything good about Ireland can be found in County Cork"....Lonely Planet Guide 2012


      This is spam I suspect, this happened in 2011


        Thanks for the reported post. I don't see any links in this post, which might make it spam, so I'll leave it for now, but I'll lock the thread.
        The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man - George Bernard Shaw