Quindell in talks over possible sale of division

Quindell is exploring the sale of parts of its business, as the UK insurance claim processor attempts to focus on generating cash.

The company has been a target for short sellers that have raised doubts about its business model and have pointed specifically to cash flow as an issue. Quindell said on Friday it had “entered into exclusivity arrangements with a third party in respect of the possible disposal of an operating division of the group”.

Quindell logo

It declined to give details on what part of the company was up for sale, but its main operating divisions include professional services, which contains the main insurance claims business, and digital solutions, which develops products such as telematics for cars that report on vehicle performance.

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