Software firm Misys is planning to reduce its stake in insurance software portal, i2i-link.
The launch of i2i-link, an industry-wide portal linking general insurers, brokers and software houses, has been planned for several months but has yet to materialise.
Currently, Misys holds a 50% stake in i2i-link and six insurers, including Axa, Norwich Union, Allianz Cornhill, Groupama, Zurich and Royal & SunAlliance, own the remainder.
A Misys spokesman said: "The ownership structure may change and other software houses could come on board. Our share is based on a verbal agreement and this was not formalised.
"It could be that we take a step back and just act as the software provider instead of a shareholder."
It is understood that a meeting will be held next week to work out the details of the shareholdings.
An industry insider said: "There will be a reshuffle of responsibilties and the nature of the relationship between Misys and insurers will be finalised."
There has been no announcement on when the product, which has cost several million pounds to develop, is expected to be launched.
Shares in Misys jumped by nearly 40% when it announced its financial services division was performing in line with expectations predating the September 11 attacks.
Its shares rose in value by 38.3% on October 3 after declining, in line with other technology stocks, from a previous 52-week high of 804p to a low of 144p.
Founder and chairman Kevin Lomax said: "We continue to make steady progress in our financial services business, and current trading remains in line with expectations. The financial services division now has a strong position in its chosen markets and the execution of the technology plan is on schedule with significant interest being shown from insurers and IFAs."
The events of September 11 damaged two of the group's buildings and caused disruption to the company's Manhattan operations and some of its customers, but the loss of profits was not likely to exceed £3m.
But Misys came under fire at the meeting, with shareholders criticising falling revenues and rising executive bonuses - five of the company's top executives received performance-related bonuses of £1.3m this year, despite the falling value of Misys stock.
Misys has suffered several blows recently, including the poor performance of its business-to-consumer insurance portals, Screentrade and theformula, which were sold off after disappointing product sales.