Quinn Insurance in Administration

Started by An Gaeilgoir, March 30, 2010, 12:15:49 PM

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Itchy

Quote from: Itchy on December 22, 2021, 10:10:50 PM
Quote from: rodney trotter on December 22, 2021, 08:44:02 PM
Quote from: Itchy on December 22, 2021, 08:04:27 PM
Quote from: rodney trotter on December 22, 2021, 07:19:27 PM
They do know, that will be revealed in the new year.

We will see then so in the new year

Not sure why you're being smart. It's been said there will be arrests in the new year, which will likely lead to the paymaster,

I'm not being smart. The paymaster bogeyman has been mentioned here for years and his arrest has always been imminent. Its insinuated its Sean quinn or one if his family. I'm still waiting for the big announcement on who it is. Maybe it will come out in the new year but I won't be holding my breath.

Maybe the imminent paymaster announcement that was going to made last year (with arrests) will be announced in this program?

trailer

Quote from: Itchy on November 29, 2022, 09:07:48 AM
Quote from: Itchy on December 22, 2021, 10:10:50 PM
Quote from: rodney trotter on December 22, 2021, 08:44:02 PM
Quote from: Itchy on December 22, 2021, 08:04:27 PM
Quote from: rodney trotter on December 22, 2021, 07:19:27 PM
They do know, that will be revealed in the new year.

We will see then so in the new year

Not sure why you're being smart. It's been said there will be arrests in the new year, which will likely lead to the paymaster,

I'm not being smart. The paymaster bogeyman has been mentioned here for years and his arrest has always been imminent. Its insinuated its Sean quinn or one if his family. I'm still waiting for the big announcement on who it is. Maybe it will come out in the new year but I won't be holding my breath.

Maybe the imminent paymaster announcement that was going to made last year (with arrests) will be announced in this program?

People will look at the evidence and draw their own conclusions. Rightly or wrongly.

smelmoth

Quote from: trailer on November 29, 2022, 08:58:13 AM
Good show on RTE 1 last night. Continues tonight and tomorrow.

His portfolio of businesses was something to admire. Not just manufacturing, but hospitality and Quinn Insurance. He didn't see anything as a problem.
In the insurance game an attitude like that would lead to a financial disaster that people would be paying for, for years.

Rossfan

We are paying a levy on all Insurance premiums because of Quin  Conboy Insurances.
Davy's given us a dream to cling to
We're going to bring home the SAM

thewobbler

Quote from: Rossfan on November 29, 2022, 04:55:07 PM
We are paying a levy on all Insurance premiums because of Quin  Conboy Insurances.

Could you explain why? And if it's still the case, why for so long?

Rossfan

Davy's given us a dream to cling to
We're going to bring home the SAM

manfromdelmonte

Quinn was basically the biggest gambler in Irish history

And hadn't a clue what he was gambling on

LeoMc

#3307
If he had never heard of CFDs and stuck with that investment policy of a third on property, a third on shares and a third into the Companies it would have been a very different story.

Even if he hadn't dipped into the Insurance reserves to cover the margins, he would have held onto the group and worked his way out of the debt.

trueblue1234

Or even if he hadn't touched Anglo. It was the perfect storm. Few other investment options could have went as bad.
Grammar: the difference between knowing your shit

thewobbler

All I keep thinking about when watching this series:

Homer "You know, Mr. Burns, you're the richest guy I know. Way richer than Lenny."

Monty: "Oh, yes. But I'd trade it all for a little more."

armaghniac

Quote from: trueblue1234 on November 29, 2022, 10:52:11 PM
Or even if he hadn't touched Anglo. It was the perfect storm. Few other investment options could have went as bad.

Exactly, not many businesses would have disappeared and borrowing to bet on a business that can disappear was very very unwise.
He divested from the likes of Ryanair shares to do this, he should have held on.
If at first you don't succeed, then goto Plan B

haranguerer

Quote from: Rossfan on November 29, 2022, 05:33:15 PM
https://www.google.com/amp/s/www.bbc.com/news/uk-northern-ireland-19165286.amp

Do you have the numbers? 2% on all insurance premiums over 10 years seems a lot. From what I can make out with a quick search the govt have allowed the Insurance industry to lobby to continue this, and I can't see any verification of the figures they've provided (even in article you provide the scale of the escalating losses looks sketchy). Looks to me like the intent is a permanent measure with quinn blamed as the bogeyman for as long as posible.


https://www.independent.ie/business/anger-at-sneaky-new-insurance-levy-that-could-place-a-further-toll-on-policy-holders-40875485.html

trailer

Quote from: haranguerer on November 30, 2022, 08:33:28 AM
Quote from: Rossfan on November 29, 2022, 05:33:15 PM
https://www.google.com/amp/s/www.bbc.com/news/uk-northern-ireland-19165286.amp

Do you have the numbers? 2% on all insurance premiums over 10 years seems a lot. From what I can make out with a quick search the govt have allowed the Insurance industry to lobby to continue this, and I can't see any verification of the figures they've provided (even in article you provide the scale of the escalating losses looks sketchy). Looks to me like the intent is a permanent measure with quinn blamed as the bogeyman for as long as posible.


https://www.independent.ie/business/anger-at-sneaky-new-insurance-levy-that-could-place-a-further-toll-on-policy-holders-40875485.html

1.65b it says in that article. Didn't the government put 2b aside this year for a rainy day? There is an element of Quinn taking on the establishment and they want him to get his comeuppance. Alan Duke oozes a "serves him right" attitude.
David Drumm, Sean Fitzpatrick, Lenehan (completely out of his depth by the way) Cowan and Patrick Neary all needed someone to blame. Quinn didn't burst the country. But he's getting the blame.

haranguerer

The 1.65bn is what they are saying it 'could' rise to - which Noonan himself thought that was dodgy going by that article - I meant though what 2% on each insurance premium comes to over 10 years. I would have thought even those estimates would be rightly covered by now

trailer

Quote from: haranguerer on November 30, 2022, 09:24:34 AM
The 1.65bn is what they are saying it 'could' rise to - which Noonan himself thought that was dodgy going by that article - I meant though what 2% on each insurance premium comes to over 10 years. I would have thought even those estimates would be rightly covered by now

Yeah I agree with you. The 2% levy is bound to have covered the loss at this point.