Quinn model "deeply troubled" claims regulator
A senior official at the Irish Financial Regulator has described Quinn Insurance's business model as "deeply troubled", according to reports.
The Irish Independent said this confirmed that the watchdog's concerns about the insurer were not simply limited to intergroup loans and guarantees.
The newspaper reported that Jonathan McMahon, number two at the Financial Regulator's office, said the "worst cases" being dealt with by the regulator involved "underlying issues [that] emerged from deeply problematic business models".
"Quinn Insurance had a deeply troubled business model. Anglo Irish Bank, again, had a deeply troubled business
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