Quindell share price edges up as it warns: "We definitely haven't appointed a chairman yet"

Emma Haslett
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Shares in the insurance claims processor have more than doubled since the beginning of the year (Source: Getty)

Shares in troubled insurance outsourcer Quindell edge 3.5 per cent higher in late morning trading after it issued a statement denying press speculation that it had appointed a chairman.

However, the company added that "discussions are taking place with individuals", although "there can be no certainty that any appointment will be made imminently".

Shares in the company lost more than 90 per cent of their value last year after a fiercely critical note from US-based analyst Gotham City Research kicked off a series of catastrophes.

The year culminated in the resignation of chairman and founder Rob Terry, as well as two more members of the company's senior management team. Its broker, Canaccord Genuity, also resigned, while investor Fidelity halved its stake in mid-November.

However, shares in the company have rallied in recent days. Having ended last year at 39.5p, they've since more than doubled to 83p.

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