# Irish Life Assurance acquires Quinn Life Direct’s life assurance and pension book



## Brendan Burgess (21 Feb 2012)

*[FONT=&quot][size: circa €100m][/FONT]*
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*[FONT=&quot]Tuesday 21st February 2012.[/FONT]*[FONT=&quot]   Irish Life Assurance plc (“Irish Life”) announces that it has concluded  an agreement with Quinn-Life Direct Limited (“QLD”) for the sale to  Irish Life of the majority of QLD’s portfolio of life assurance and  pension business. The sale, covering 5,000 policies, is expected to be  completed by the end of 2012, subject to receipt of all necessary  regulatory and court approvals. [/FONT]
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  [FONT=&quot]QLD  will be writing to its policyholders, in due course, to explain in  greater detail the proposed transfer, the key dates and the time frame  for implementation of the transfer. QLD will also inform policyholders  in due course where additional information on the proposed transfer may  be obtained.[/FONT]
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  [FONT=&quot]Irish  Life looks forward to welcoming the QLD policyholders following the  proposed transfer and will write to the policyholders at that time.[/FONT]


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## kfpg (25 Feb 2012)

Does this mean peope with Freeway fund policies will get moved over to Irish Life?

Should the move be viewed as positive or negative?


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## buster mammy (1 Mar 2012)

i would also like to know what the general view is on this move, is it better to cash in policy now or wait for the move to irish life, any views as i dont want to lose even more of my hard earned cash thanks in advance


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## rangerscym (1 Mar 2012)

I'm personally taking this announcement as the nudge I needed.

I'll be redirecting regular premiums to a new provider as soon as possible and will closely monitor how existing funds are to be managed  

I have found the staff at Quinn Life excellent to deal with in relation to the day to day servicing of policies but quite the opposite when it comes to dealing with their management team.  In my own experience, Irish Life are even worse when it comes to managing issues when things invetivably go wrong.


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## LDFerguson (1 Mar 2012)

buster mammy said:


> i would also like to know what the general view is on this move, is it better to cash in policy now or wait for the move to irish life, any views as i dont want to lose even more of my hard earned cash thanks in advance


 
I don't think all of the practicalities of the move have been announced yet.  But I would expect that Irish Life will continue to offer the same index-tracking funds as Quinn Life.  As QL only offered index-tracking funds and Irish Life also have a range of index-tracking funds, I can't see Irish Life moving away from this.  

So I would doubt that the move to Irish Life would result in any money being lost.


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## buster mammy (2 Mar 2012)

thanks for feedback will wait and see


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