Liberty Mutual the preferred bidder for Quinn
Liberty Mutual working with Anglo Irish Bank has been revealed as the preferred bidder for Quinn Insurance, the Irish insurer that went into administration in March 2010.
Liberty Mutual, the fifth largest insurance company in the US, will provide the firm with "management and insurance expertise" according to an announcement by the Central Bank of Ireland.
The transaction will involve creating a new insurance company, subject to central bank approval.
Meanwhile, Anglo will remain a minority shareholder in the new...
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