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Ireland's Financial Regulator has lifted restrictions placed on Quinn Insurance Ltd that prevented it from issuing new insurance cover in the UK.On Wednesday the regulator said it would allow the firm to write new insurance cover for provisional licence holders in the United Kingdom.
The office said it had taken the decision after careful consideration.
The company is in administration after the regulator raised concerns about its solvency.
The regulator said Wednesday's decision was based on information provided by the administrators and it had also consulted the UK's Financial Services Authority.
The statement from the regulator indicated that there had been improvements in the company's underwriting model and "significant" strengthening of its pricing structure.
The company was prevented from writing new business in the UK after the regulator expressed concerns about the financial position of the company, particularly in relation to its solvency, and had the business placed in administration to protect Quinn's customers.
Most of the UK business is processed in Quinn's Fermanagh operation and the ban had put hundreds of jobs at risk.
Workers across Ireland protested over the decision. The company said the insurance business was losing 1.5m euros a day as a result of the suspension.
The Quinn Group last week withdrew its opposition to the appointment of permanent administrators to the insurer.
The regulator and the insurer said the move was in the best interests of 1.3 million policyholders.This article is from the BBC News website. ? British Broadcasting Corporation, The BBC is not responsible for the content of external internet sites.