Administrators urged to protect jobs as a priority

POLITICAL REACTION:THE PROVISIONAL administrators appointed to Quinn Insurance must prioritise the protection of jobs following the Financial Regulator's launch of an investigation into the largest Irish-owned insurer, politicians in the Border region have said.

One of Fianna Fáil’s three TD for Cavan-Monaghan, Margaret Conlon, said the Quinn group was one of the biggest employers in the region, and she hoped this would continue. “It’s a worrying time for everyone concerned,” she said.

Fine Gael deputy Seymour Crawford said the Government needed to do everything possible to ensure the jobs were retained. “Obviously there’s a lot of anxiety. People are just genuinely terrified.”

Mr Crawford said Mr Quinn was “tremendously respected” for his efforts in bringing jobs to the Border region. The group’s current problems should be “dealt with in a rational and reasonable way”, he said.

Former Fine Gael leader Michael Noonan said the priority for the administrators must be “the preservation of as many jobs as possible and the protection of policy holders”.

He added: “It is also important that the administrators move quickly because until the full facts are known, the Quinn Insurance Group will lose business.”

Sinn Féin Dáil leader Caoimhghín Ó Caoláin, TD for Cavan-Monaghan, also described Quinn as a major employer in the region and said jobs must be protected.

“Quinn Insurance and the Quinn group in general, are major employers in the Border region and across Ireland and there is real concern for the future of thousands of jobs as Quinn Insurance goes into administration,” he said.

“There are 2,800 employees of Quinn Insurance in Cavan, Enniskillen, Navan, Dublin, Cork and also in Manchester.

“There is huge dependence on this employment, especially in the Border region where other opportunities are so limited.”

Labour Party finance spokeswoman Joan Burton told the Dáil she was concerned for policyholders and the many thousands of people employed by the Quinn Group.

“Everybody here is conscious that we are dealing with a huge employer in this country. Yesterday we heard appalling news on our banking system but given Quinn’s repeated mention over the past three years and more in connection with investments in Anglo Irish Bank, I ask the Minister to indicate whether it has a bearing on these developments,” she said.