Quinn Direct is rebranded
Name change as new owners begin shake-up of company
The Quinn Direct name is being consigned to history and will be replaced by the new owners' Liberty Insurance identity.
Staff at the Cavan insurer were briefed on the impending name change earlier this week, in advance of the announcement.
First details of the rebrand were revealed yesterday and a major advertising campaign will now follow.
Quinn Direct was taken over by the US insurance giant Liberty Mutual and the Irish Bank Resolution Corporation (formerly known as Anglo Irish Bank) in November.
Since then, the Quinn name has come down from the insurer's landmark offices in Cavan and Blanchardstown, Dublin, but details of a rebrand have been kept under wraps.
Management is now moving forward to the transition to a new Liberty Insurance brand to play on the strength that the insurer has as part of massive international group.
Although Anglo and Liberty are joint owners of the new venture, Liberty is spearheading its management and has installed its executive Pat O'Brien to head up the operation.
Soon after he was appointed, Mr O'Brien predicted that the insurer would make a profit in 2012 and vowed to get back some of the comm- ercial accounts that left Quinn during its period of administration.
The insurer's figures for 2011 have not yet been released, but the Irish Independent reported yesterday that interim data obtained by the newspaper shows a significant deterioration in premium income in the first seven months of the year.
Mr O'Brien has spoken of plans to broaden the company's breadth of products by targeting a wider range of customers than those of Quinn Direct.
Liberty Mutual was established in 1912 and is the third-largest property and casualty insurer in the US.
In November 2011, Liberty Mutual Group formally took control of the Irish business of Quinn Insurance Ltd, the company founded and formerly led by Northern Ireland businessman Sean Quinn.
At that time, ownership of the insurer passed to a joint venture comprising Liberty, with a 51% stake, and State-owned Irish Bank Resolution Corporation (formerly Anglo Irish Bank), owning 49%.
The company will continue to operate from offices in Cavan, Dublin and Enniskillen. It will be headquartered in Cavan.
Customers were told that their policies are unaffected by the transfer of ownership.