Updated, 14.10
THE JOBS OF 334 staff at Quinn Healthcare have been safeguarded with the sale of the insurer to a Swiss company.
Quinn Healthcare has this lunchtime confirmed the completion of talks with reinsurance company Swiss Re regarding a full takeover of the company.
In a statement, the insurer said the sale of the company secured the jobs of 334 team members in Little Island, Co Cork, and also reinforced competition in the health insurance market.
Quinn Healthcare managing director Dónal Clancy said the takeover was “great news for our members and the Quinn Healthcare team alike”.
Bruce Hodkinson of Swiss Re said the Quinn operation would be “an excellent fit with our business and we’re pleased to be able to support the management of Quinn Healthcare with a reinsurance solution that helps to provide long-term security to the policyholders and employees of the company”.
Quinn Healthcare customers have been assured that the terms and conditions of their cover will not change as a result of the purchase, although the company would be rebranded in the coming months.
Customers seeking information on the transition are advised to call 1890 700 890 or visit www.quinn-healthcare.com.
Health minister James Reilly said he welcomed the “certainty” which the takeover would bring to the insurance market and to Quinn Healthcare customers
“The Government’s clear objective is for the health insurance market to remain competitive and strong as we move towards a new system of Universal Health Insurance,” he said.
The insurer had been fully-owned by the Quinn Group, which has been in administration since 2009.
Last month the insurer announced that the average cost of health insurance policies would rise by 12 per cent next month, saying the increase was “unavoidable” and partly due to the Health Insurance Levy.
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