quinn group buys out BUPA!

constitutionus · 31-01-2007 4:39pm #1

just heard it on 4:30 news on newstalk. a good news story for a change considering the doom and gloom of the last few days involving motorola and the two other companies in limerick that are laying off staff. according to newstalk quinn will retain all of bupas clients still on the book and the 350 staff jobs are secure again so a few relieved home owners there then. it is interesting to note that its an irish company thats buying it out though so maybe the trend of foreign companies pulling out wont abate. plus it does give a nice segue into wheather they'll follow VIVAS to europe on the competition issue with the VHI .

still good news for once and ya cant slag that

, anyone got any therories

aidan_walsh · 31-01-2007 4:51pm

Quinn are buying BUPA Ireland from BUPA, or offering to buy their clients?

constitutionus · 31-01-2007 4:56pm

from what i gathered from the report its BUPA ireland. if it was just the clients the jobs would still be gone so i reckon its lock stock and barrel. will hear more in 5 mins at the 5oclock news

flogen · 31-01-2007 5:01pm

From the RTE.ie report it seems to be that Quinn are buying the entire Irish subsidary - including the name I guess.

Makes sense - huge brand awareness, huge customer base and a 3 year exeption from risk equalisation.

DMC · 31-01-2007 5:20pm

In branding terms, I would guess that the Bupa name will be dropped, as its been tarnished over the last few months. Quinn Direct is a strong Irish brand in insurance, and Quinn Healthcare would be a good name.

/me runs off to trademark it

constitutionus · 31-01-2007 5:31pm

listening to the right hook as i write. its getting interesting, theyre introducing a "price freeze" for all of 2007 in order to attract customers back but the thing is it looks like they dont have to pay risk equalisation for 3 years just like BUPA did in the beginning meaning they can roe in with VIVAs to go to europe on competition.

be interesting to see how this affects VHI , seeing as they probably were relying on the money they'd get off BUPA . looks like the worst of both worlds to them, they still have the competition and no extra money. (plus if memory serves they upped their premiums recently too.)

flogen · 31-01-2007 10:20pm

constitutionus wrote:

listening to the right hook as i write. its getting interesting, theyre introducing a "price freeze" for all of 2007 in order to attract customers back but the thing is it looks like they dont have to pay risk equalisation for 3 years just like BUPA did in the beginning meaning they can roe in with VIVAs to go to europe on competition.

be interesting to see how this affects VHI , seeing as they probably were relying on the money they'd get off BUPA . looks like the worst of both worlds to them, they still have the competition and no extra money. (plus if memory serves they upped their premiums recently too.)

To the best of my knowledge BUPA have to pay their "community rating" fee to VHI irregardless of them staying, going or being sold up... so VHI aren't going to be hit at all, certainly no different than BUPA quitting as promised (only this time they won't have a chance to grab their customers).

I think VIVAS only has a few months left on it's three year exemption too.

constitutionus · 31-01-2007 10:33pm

i wouldnt be sure about that, from what ive heard it only comes into effect if they want to stay in the market from now on (admitedly this is from businness programs on today fm and newstalk at the weekends ). the only debts i think they have is for the court case they took against the VHI. the guy from quin seems to think the same as he was pressed on the six one news to say would they feck off in three years time when their exemption was up and was even questioned on wheather they'd pull out if the exemption wasnt granted now. unsurprisingly he was very circumspect on the whole issue but i cant see em risking that kinda debt

quinn group buys out BUPA!

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