Quinn Insurance administration expected to end in 2016

The administration of the Quinn Insurance company is expected to end in 2016, the High Court has been told by the joint administrators.

No further money will be required this year from the State-backed Insurance Compensation Fund to meet claims of Quinn policyholders, Bernard Dunleavy, for the administrators, told the President of the High Court, Mr Justice Nicholas Kearns yesterday.

There had been no further claims on the fund since the last report on the company was presented to court in June, counsel said.

The administrators say they are ahead in dealing with the number of claims by some 500 cases and others have been settled for €9m less than had been expected, counsel added.

Mr Dunleavy was presenting the 14th report of joint administrators, Michael McAteer and Paul McCann of Grant Thornton who were appointed to Quinn in March 2010.

Mr Justice Kearns said he would read the report and if there were any queries he would ask counsel for the administrators to return to court on a later date.