Quinn Insurance, which is in administration, has been allowed by the Irish Financial Regulator to re-enter the UK private motor insurance market for full licence drivers, after initially being allowed to underwrite provisional license holders.
However, the insurer warns that re-entry into full licence drivers incorporates significant pricing changes which it believes will lead to significantly lower volumes than were previously written by Quinn in the UK private motor market.
A leading motor broker in Northern Ireland yesterday [29 April 2010] told www.broking.co.uk that he hadn't understood Quinn's previous pricing policies.
In a statement Quinn Insurance noted: "This is an important step in the process of ensuring the return of Quinn to a sound financial and commercial footing. We continue to work with the Financial Regulator in relation to the potential of reopening other business lines."
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