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Finetre: AnnuityNet Update Went Smoothly

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A company that runs a Web-based annuity sales system says it thinks its recent system update went well.

Finetre Corp., Herndon, Va., the unit of Ebix Inc., Atlanta, that runs the AnnuityNet annuity and life insurance distribution system, says it updated the system June 18th.

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So far, wirehouses, insurers and other companies that use the system have not reported any major problems, Finetre says.

The system processes an average of 15,000 annuity transactions with a combined value of about $1.5 billion each month, Finetre says.