Michael McAteer and Paul McCann: 900 to Lose Jobs Quinn Insurance Ltd administrators are anticipated to spend this week working on a complete actuarial assessment of its commercial lines of business in the UK before presenting proposals to the Financial Regulator about re-entering parts of this market.Paul McCann and Michael McAteer have confirmed that 900 employees at Quinn Insurance are on the verge of losing their jobs. Around 200 jobs will go in Enniskillen and Derrylin, sending-off a labor force of 450 people. The insurance company is now officially up for sale. Employees at the different centers were clued-up of the movements on Friday afternoon.
It is understood this work possibly will take up to 10 days to complete. A business arrangement for the commercial lines in the UK is likely to be offered to the regulator some time next week.http://www.hovied.com/business/michael-mcateer-and-paul-mccann-900-to-lose-jobs-from-quinn-insurance-0205460.html
Joint Administrators, Paul McCann and Michael McAteer of Grant Thornton said, “This is a difficult announcement to make and a considerably more difficult announcement for the workers of Quinn Insurance to hear”. Michael McAteer finds challenge in announcing the sad story to the workers of Quinn Insurance.
In a statement, Mr. Quinn said that he hopes to state his gratitude for the “huge effort” of workforce.
