The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Financial Services Financial And Insurance Activities Insurance, Reinsurance And Pension Funding, Except Compulsory Social Security 65 - Insurance, reinsurance and pension funding, except compulsory social security
500 jobs Number of planned job creations
Announcement Date
17 April 2007
Employment effect (start)
Foreseen end date
30 April 2012
Description
Irish insurance operator, the Quinn Group, has confirmed that it would create some 500 new jobs in addition to securing 300 existing jobs with its takeover of Bupa Ireland's business and entry into the health insurance market. Quinn Group chairman Seán Quinn said the acquisition of Bupa Ireland Ltd had given the company the platform to become the leading health insurer in Ireland through offering competitive prices as it had already done in the motor insurance market through Quinn Direct. Mr Quinn said the new company, Quinn Healthcare, would take over Bupa Ireland's operation at Fermoy in Cork which currently employs 300 people and would increase staff numbers to 800 on a phased basis over the next four to five years as it expanded business.
Speaking at the launch of Quinn Healthcare, Quinn Group general manager Colin Morgan said the company was confident that reform of the private health insurance market, pledged by Minister of Health Mary Harney, would enable the company to flourish.
Sources
18 April 2007: The Irish Times
Citation
Eurofound (2007), Quinn Group, Business expansion in Ireland, factsheet number 65247, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/65247.
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