Quinn Life Freeway - Product Safety

C

candyman

Registered User
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I am interested to hear people's thoughts on the safety of their investments in the Quinn Life Freeway products.
Given the current level of media coverage and the pending sale of Quinn Group companies/assets/products should people, including those with single and regular savings premium policies, be worried about continuing to invest in these freeway products?

Kind regards.
 
From the lack of replies, does this imply that nobody sees any danger in investing in the Quinn Life products?
 
Assets held by a life company are "ring fenced" from the other parts of the group. After the breach of regulations by Quinn Health Insurance the Financial Regulator's office conducted a full review of Quinn Life and found that the company was fully compliant.
 
I have contacted quinn life on several occasions in the last few months, most recently last week. Here's what I know.
1. They are currently beneficially owned by anglo irish bank
2. They are not being taken over by liberty mutual
3. Report in SB Post about 2 weeks ago saying they may be taken over by ILP (as part of the healthcare business)
4. Euro Bond Fund, enquired a few months ago about this, and they told me that it is composed of irish/ finnish / german bonds in equal measure, so I don't think this is a "fund" at all with three holdings, promptly reallocated my money out of it ! Don't know what the current allocation is in this.
5. The only reason I am sticking with my quinn freeway fund is I am down 35% on what I put in, so if I move elsewhere I will be paying tax on any gains from day one.

Hope this helps
 
Baracuda said:
Assets held by a life company are "ring fenced" from the other parts of the group. After the breach of regulations by Quinn Health Insurance the Financial Regulator's office conducted a full review of Quinn Life and found that the company was fully compliant.
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I got the "we are ring fenced from the rest of the Quinn group" line when I rang them last week asking about this topic. Obviously they assured me that my money is 100% safe and sound, but just wanted to gauge people's own view of whether they would continue to trust Quinn Life with their investment money and if not, why.
 
You would have got that line because its the truth! To be honest I would no nothing at all about their funds or any part of their life business.
 
Baracuda said:
You would have got that line because its the truth! To be honest I would no nothing at all about their funds or any part of their life business.
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If you know nothing about their products or business? how can you even comment on this topic?

How do you know its the truth, do you work for them>?
 
candyman said:
I'm not interested in whether it is or isn't up for sale like in your linked threads Complainer, I'm interested in whether people feel it is still a stable vehicle for your investments.
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I guess you were in too much of a hurry to read the points about counterparty risk and reported losses in the company. Next time I won't bother pointing out relevant details.
 
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