Quinn Insurance Limited has been placed into provisional administration, the Financial Regulator in Ireland has disclosed.
An application was made to the High Court and joint provisional administrators have been appointed.
Quinn is based in Ireland and the lead regulator is the Irish Financial Regulator, with whom the FSA in the UK is working closely with.
Quinn’s UK branch, Quinn Insurance Limited (UK) or Quinn Direct, specialises in motor and professional indemnity insurance and has now closed to new business.
The Irish regulator has confirmed that existing policyholders in the UK will continue to be covered. Customers of the firm can continue to make claims and should continue to pay direct debits and premiums in the normal way.