Quinn transfer deal
INSURANCE business Quinn-Life Direct Limited has concluded an agreement with Irish Life Assurance Plc to transfer the majority of its life assurance and pension business to the firm.
The transfer to Irish Life is expected to be completed by the end of 2012, subject to the receipt of all necessary regulatory and court approvals.
QLD will close to new business across all of its product lines with immediate effect.
QLD said that it considers that the transfer will be in the best interests of policyholders, both those whose policies will be transferred to Irish Life and those who will remain with QLD.