The senior management team at struggling loss adjuster Miller Fisher was this week said to be looking at plans to buy the firm and take it private.

Miller Fisher has seen its share price tumble by around 80% in the last year and at the time of going to press was valued at 22p per share.

The loss adjuster has grown by acquisition but the share-price slump has effectively scuppered any further deals.

Some newspaper reports suggested senior management, led by chief executive Kevin Kenny, were contemplating a 40p per share bid which would be followed by a de-listing.

But a statement from Miller Fisher said the speculation was premature.

It said: "Further to recent press speculation, the company reiterates the statement it made at the interim results that the board regards the need to maximise shareholder value as a key priority and that it is currently examining a number of ways by which this may be achieved.

"HSBC Investment Bank has been appointed to carry out this review. A number of options are under consideration including, but not limited to, the possibility of a potential public to private transaction."

Miller Fisher said the process was only at a "preliminary stage" and that no announcement was imminent.

The firm was hit by two profits warnings earlier in the year as insurers rationalised their panels and handled more claims in-house.

But the freak storms that ravaged the UK recently are expected to produce profits of £1.5m for October alone.

Analysts claim the bad weather will push Miller Fisher into profit when previously a loss had been forecasted.