(OTC: AGHI) has finalised the acquisition of Canadian telecommunications contractor RiNet Telecom to accelerate growth in the technology sector, the company said.
RiNet. RiNet, a telecommunications contractor, delivers telecom and security solutions from the design to engineering phase, including cable and fiber optic installations, structural wiring and security surveillance.
The Continental European market is experimenting with its own Reinsurance and Insurance Network (RINET
One of the attendees was a board member from a major reinsurer who has been a supporter of an EDI initiative called RINET
(Reinsurance and Insurance Network), an effort among major international insurers, reinsurers and affiliate organizations that has attempted to establish and implement EDI standards for various business transactions.
* WISe-Worldwide Insurance E-Commerce Group, formed through the merger of LIMNET, RINET
and WIN in 1999.
If there is real progress in reinsurers getting their arms around the technology issue, it may best be represented by the recent convergence of the London Insurance Market Network (LIMNET), Europe's Reinsurance Network (RINET
) and the U.S.-based World Insurance Network (WIN) into a single force for global electronic data interface and electronic commerce for insurers.
In the European context, reinsurers have an electronic network system, Rinet
, to streamline the handling of business.