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Misys plc completes sale of Misys General Insurance to Montagu Private Equity

Misys plc announces today (5 May 2006) the completion of the sale of its general insurance broking systems business, Misys General Insurance, to Montagu Private Equity Limited, in line with the company's announcement on 29 March 2006.

 

(ENDS)

ANALYST/INVESTOR ENQUIRIES

Alex Dee

Tel: +44 (0) 20 7368 2336

Mob: +44 (0) 7989 017 979

Email: alex.dee@misys.co.uk

MEDIA ENQUIRIES                                                                                                                                 

Susan Cottam                                                                                                                 

Tel: +44 (0) 20 7368 2305                                   

Mob: +44 (0) 7957 807 721                                 

Email: susan.cottam@misys.co.uk             

 

About Misys General Insurance

Misys General Insurance was founded in 1979 by Kevin Lomax, Misys Chief Executive.  It is the leading supplier of IT solutions to general insurance intermediaries in the UK and Republic of Ireland. It has over 1,800 customers and partners with the UK ’s leading insurance companies. It comprises Misys Financial Systems Limited, Misys Insurance Services (Ireland ) Limited, Misys Insurance Management Limited (MIM) and ACT Insurance Systems Limited. Through MIM it owns Countrywide, the largest intermediary network in the UK with 800 members.  Misys General Insurance pioneered the development of electronic transaction processing in the UK general insurance market, and is today the leader in full cycle EDI (electronic data interchange) delivery. It is based in Worcester, England, and has over 300 employees.

 

About Misys plc

Misys plc (FTSE: MSY), the global software company, is one of the world’s largest and longest-established providers of industry-specific software. Founded in 1979, Misys serves the international banking and healthcare industries, combining technological expertise with in-depth understanding of customers’ markets and operational needs. In banking Misys is a market leader with over 1,200 customers, including 49 of the world’s top 50 banks. In healthcare Misys is also a market leader, serving more than 110,000 physicians in 18,000 practice locations, 1,200 hospitals and 600 home care providers. Through Sesame, a wholly-owned subsidiary, the company is also a leading provider of support services to about 7,800 financial advisers in the UK. Misys employs around 6,000 people who serve customers in more than 120 countries. For more information, visit www.misys.com

Misys. Making things that really matter, work better.