Insight and Intelligence on the London & International Insurance Markets

17 May 2012

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International digest

6 May 2011

Liberty Mutual rescues Quinn Insurance

Liberty Mutual has completed a deal to rescue parts of Irish insurer Quinn Insurance Company Ltd (QIL), which was put into administration in March 2010.

The deal, which was announced last month, will see certain assets and liabilities from QIL transferred into a new joint venture called Liberty Mutual Direct Insurance Company (LMDI). It involves the transfer of EUR711mn of QIL's assets and a EUR200mn capital injection by its new shareholders.

Against this LMDI will...

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