Assembly Committee Voices Grave Concerns About the Future of Quinn Insurance

Session: 2009/2010

Date: 22 April 2010

Reference: ETI 03/09/10

The Northern Ireland Assembly Committee for Enterprise, Trade & Investment today met with employee representatives from Quinn Insurance to hear evidence on the ongoing issues facing the company. Witnesses told the Committee Members how the restrictions imposed on the organisation were impacting on employees. They stressed that, if the situation is not urgently resolved, job losses at Quinn Insurance would have much greater consequences in terms of employment and the wider economy in Fermanagh.

The Committee agreed to request urgent meetings with the Irish Financial Regulator, the Financial Services Authority in London and the Administrator for Quinn Insurance to urge all parties to work to resolve the issues so as to retain jobs across Northern Ireland, Great Britain and The Republic of Ireland and to help preserve the local economy in Fermanagh and the West.

Chair of the Committee, Alban Maginness said, “Significant job losses in Quinn Insurance would have a devastating and long lasting affect on the small economy in Fermanagh. The county has great difficulty in attracting inward investment and the Quinn Group is to be commended for the work it has done in growing the local economy, providing jobs and preventing what would otherwise have been a mass exodus of skilled people from the Fermanagh region.”

Deputy Chair Paul Butler added: “It is essential that we do everything within our power to retain jobs in the west so that we can preserve the future economy of the region.”