UK insurance giants RSA and Aviva out of the running for Quinn
- Jonathan Swift
- 12 Oct 2010
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Five groups, including Anglo Irish Bank, Travelers Insurance and Liberty International, have been short listed as the preferred bidders for Quinn Insurance, according to reports.
However, the Irish Independent has revealed the administrators of Quinn Insurance have no plans to publish a shortlist of bidders insisting such disclosure could "adversely affect the progress of the sale".
It claims the chosen five are still awaiting confirmation of management meetings and further documentation on Quinn Insurance.
The Irish Independent added it is unclear at what stage the unsuccessful bidders, including Aviva and RSA, were told that they had fallen out of the process, while the identity of the other two shortlisted bidders is unknown. It suggsted Zurich and Allianz may be two of the other firms in the running.
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