Tuesday 21st February 2012. 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.
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.
Irish Life looks forward to welcoming the QLD policyholders following the proposed transfer and will write to the policyholders at that time.