HIH shares were suspended on Friday as the insurer prepares to announce its results for the December 31 half. Although the company isn’t bound to announce its interim result until March 16, Stock Exchange insiders suggest it is likely very soon – certainly before the end of this week.

No one in HIH was prepared to speculate yesterday on when an statement might be issued, but new CEO Randolph Wein is expected to be continue with his campaign of timely candour to investors and the industry.

There have been suggestions that Mr Wein may bite the bullet and clean up HIH’s books in one big move. This would inevitably involve write-downs on its remaining assets.