Xchanging issues profit warning amid £100m writedown
Shares in Xchanging nosedived this morning on the back of a profit warning and the resignation of its chief executive.
Founder David Andrews steps down today, but stays on as senior adviser to the chairman.
The back office and IT support firm said today its results for 2010 would include a £12m impairment charge, and a £100m goodwill writedown in connection with the Cambridge Solutions business.
Xchanging bought the business for £145m in 2008.
Shares halved to 60p today as investors took fright.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
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