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22/07/2010
Fermanagh Quinn Jobs Saved
Workers in troubled Quinn Insurance got some good news this week with the withdrawal of redundancies at the firm's Enniskillen office.
Seventy-five planned redundancies in the Lakeland town will not now be implemented.
The firm's administrator has confirmed that the redundancies from its consumer sales business will not proceed.
However, this decision does not affect the voluntary-led redundancies planned in other functional areas of Quinn Insurance.
Stormont Enterprise Minister Arlene Foster welcomed the announcement and said: "Since the ban on trading in the UK private motor insurance business was lifted in April, staff at Quinn Enniskillen have worked hard to maintain and grow levels of business.
"As a result, the administrator has taken the decision not to seek any redundancies in the private lines business in Enniskillen, a decision which I am sure will be met with relief by the 75 employees affected.
"My department and Invest NI remain committed to safeguarding the employment and investment by Quinn Insurance in Northern Ireland in the longer term," she added.
In a statement the company said the jobs had been retained as a "result of strong customer retention, the acquisition of new business above previous projections, and an increase in natural attrition in the private lines division".
The statement continued: "The improvement in Quinn Insurance's business performance since the announcement of its redundancy programme on 30 April has led to this position."
See: Quinn Formally 'In Administration'
(BMcC/KMcA)
Seventy-five planned redundancies in the Lakeland town will not now be implemented.
The firm's administrator has confirmed that the redundancies from its consumer sales business will not proceed.
However, this decision does not affect the voluntary-led redundancies planned in other functional areas of Quinn Insurance.
Stormont Enterprise Minister Arlene Foster welcomed the announcement and said: "Since the ban on trading in the UK private motor insurance business was lifted in April, staff at Quinn Enniskillen have worked hard to maintain and grow levels of business.
"As a result, the administrator has taken the decision not to seek any redundancies in the private lines business in Enniskillen, a decision which I am sure will be met with relief by the 75 employees affected.
"My department and Invest NI remain committed to safeguarding the employment and investment by Quinn Insurance in Northern Ireland in the longer term," she added.
In a statement the company said the jobs had been retained as a "result of strong customer retention, the acquisition of new business above previous projections, and an increase in natural attrition in the private lines division".
The statement continued: "The improvement in Quinn Insurance's business performance since the announcement of its redundancy programme on 30 April has led to this position."
See: Quinn Formally 'In Administration'
(BMcC/KMcA)
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Irish Jobs' Response 'Could Be Better': SF
Enhanced co-operation between the Belfast and Dublin administrations could greatly assist existing workers and in helping the unemployed get jobs. Foyle Sinn Féin MLA Martina Anderson has said that the Stormont Executive's response to recent redundancies at Quinn Insurance was not as effective as the measures taken by the Dublin government.
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Garda May Be Called As Quinn Group 'Short'
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Quinn Customers 'Pay For Losses'
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Quinn Customers 'Pay For Losses'
There is to be a 10% increase in motor and home insurance for Quinn Insurance customers in the coming months after news today that the struggling cross-border business reported operating losses of €127m for last year. County Fermanagh-based owner Sean Quinn owes Anglo Irish Bank €2.
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Laing O'Rourke Chase Quinn Deal
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Laing O'Rourke Chase Quinn Deal
A Kent-based multi-national construction business is eyeing-up the troubled Quinn Group. Laing O'Rourke is understood to have held talks over a potential takeover of parts of its business. Delegates from the construction giant spent two days last month at the Quinn headquarters, in Co Cavan, it is reported.
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