Agenda: Travelling on a dodgy passport
The Quinn saga came as no surprise to most of us in the industry. The position at the time of writing is that the UK business of Quinn is in run-off and the Irish parent company is in administration.
However, Quinn has been permitted to once again write motor business in the UK. In additon, it is not expected to fail and, in fact, in a worse case scenario, it is likely that the Irish government will have to bail them out. They are too important to go bust as the implications for the fragile Irish economy would be too great.
Quinn passported into the UK under the Freedom of Services Directive, didn't set up a separate company and avoided regulation by the Financial Services Authority (FSA)
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