Quinn Life Bond freeway query

Self and spouse have our bank savings spread around a number of institutions in joint accounts less than €40k in each account. We also have an investment in Quinn Life Bond Freeway. In the light of upheavals in the financial world, how safe is our QL investment?

milic said:

In the light of upheavals in the financial world, how safe is our QL investment?

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I presume your question is what will happen if QL go bust, and not on the risk of investing in the bond market. Under the EU Investor Compensation Directive and the Investor Compensation Act 1998 you are entitled to 90% of the losses suffered up to max of 20,000 euro, through the default of an investment intermediary. Basically, it’s a similar but separate scheme to the compensation scheme for the deposit taking business of banks.

Thanks for reply, PMU. As our QL investment is in joint names, are we each entitled to 90% subject to maximum of €20k each? Thanks

You should be able to find out here:

http://www.investorcompensation.ie/index.php

Thought I would bump this up.

I asked question in 2008. The reply stated that if Quinn Life went bust I would be able to recoup 90% of my losses subject to a maximum of 20,000 euro.

Does anyone disagree?