Page last updated at 13:35 GMT, Thursday, 22 April 2010 14:35 UK

Enterprise Committee

Quinn Insurance representatives told the Enterprise Committee on 22 April 2010 that even if the company gets fully up and running again there will still be significant job losses at the firm.

The company's David O'Donnell said: "The business is resourced for 100% optimum operation capacity. If we get back up tomorrow, that operational capacity has been reduced, and it is an inevitability that there will be job losses."

His colleague Colum Courtney said: "There will still be substantial job losses. At this time, we are trying to minimise the impact, and get us back, but there will still be job losses."

Quinn Insurance has gone into administration following concerns raised by the Irish Financial Regulator about its solvency levels.

Quinn Insurance has more than 8,000 employees, around 600 of whom are based in Enniskillen.

The committee heard that the decision by the Irish Financial Regulator to freeze Quinn trading in UK markets could lead directly to job losses in Enniskillen.

Quinn employee Mona Bermingham said that business from UK provisional licence holders, which the regulator recently decided to allow, accounted for only 10% of Quinn's UK business base.

The committee agreed to seek face-to-face meetings with the administrator for the company, and to ask the UK Financial Services Authority (FSA) for a meeting with the Quinn employee representatives.

Enterprise committee membership


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