Norwich Union and the four other product providers, comprising AEGON UK, Clerical Medical, Friends Provident and Scottish Widows who previously owned 40% of the Assureweb portal have agreed terms with Misys to take overall control of the business.

The deal involved a share buy back by Assureweb, leaving NU and the four other providers owning 100% of the business.

The move is intended to create an online portal owned by the financial services industry, working for the financial services industry.

Assureweb will remain the portal of choice for the financial advisers Sesame supports.

Assureweb's Managing Director Nigel Hopwood said: "The solid infrastructure and governance that Sesame (part of the Misys Group) put in place has been instrumental in developing the business to this point but we believe that it is now appropriate that Assureweb should be owned entirely by the provider community rather than a single distributor. With Sesame also continuing to support the Assureweb proposition through its ongoing commitment to our business model, we believe the deal works for all parties."

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