As the world teeters on the edge of recession, listed insurers are still licking the wounds caused by initial losses.

Listed insurers have yet to scramble out of the hole dug by the stock market slide, even after the US Federal Reserve cut interest rates by 75 points.

In an effort to halt a wave of sell-offs and allow the market to regain traction, it slashed interest rates from 4.25% to 3.5%. It was the largest points cut since 1982, and has so far helped put the brakes on further falls in most sectors.

Nevertheless, of the LSE listed insurers, there have been a few recoveries. At the time of writing, Catlin had benefited from the greatest price rise, with a 5.7% gain to 345p – although the stock remains down 3.3% over seven days.

Hiscox has fared the best over the week, with shares trading up at 280p at the time of writing – 6.8% rise, with a 2.9% rise today. JLT stock was also up at 331.25p, a 1.2% rise on the day with a corresponding 3.3% rise on seven days.

But Hardy remains the worst hit, with a marginal fall today to 260p but still down 14.4% over seven days.

Meanwhile, Lloyd’s said its immediate exposure worries were directors’ and officers’ (D&O), errors and omissions (E&O) and professional indemnity (PI) claims that may arise from future litigation.

A spokesman played down the potential hit to the market, saying: “Based on preliminary investigations, Lloyd’s exposure will be manageable. However, insurers could still be subjected to slumps in their investment portfolios, although Lloyd’s says its businesses have limited credit exposure. Nevertheless, the spokesman continued: “Some indirect investment returns are likely to be impacted.”