Quindell denies contract loss

Controversial insurance outsourcer Quindell has denied rumours that a large contract with one of the North West’s biggest claims management companies has been lost.

"There is no truth at all to these rumours," a company spokesperson said in an email to Interactive Investor. The response came over three hours after the company was given the chance to refute the claims, but decided instead not to comment.  Quindell shares had already tumbled by 15% amid speculation about another serious slip-up.  A source claiming to be close to senior management told Interactive Investor that Quindell had lost the contract, signed on 2 May 2013, with one of the UK's largest accident management companies.