Misys GI arm name change to follow £182m Montagu deal

Software house Misys has sold its general insurance business to private equity firm Montagu Private Equity for £182m. Montagu is an independent mid-market European private equity investor, backing management buyouts and other private equity deals. A spokesperson said an average time scale for sale after acquisition was three years.

Phillip Bell, chief executive of Misys General Insurance, said: "Montagu knows all about investments; they have bought into our strategy and will support the