The Quinn Group lost a total of €852 million in 2009, the company has revealed.
The losses mainly relate to the group’s insurance operation, Quinn Insurance, which is under administration, and which incurred operating losses of €644 million during 2009.
Chief Executive of Quinn Group, Paul O’Brien, described the numbers as “hugely disappointing”. “The future of our group now lies in our manufacturing businesses, which are involved in container glass, construction products, plastics and packaging and radiators across a number of jurisdictions,” he said.