Report on Insurance and Pensions 2007 - Central Bank of Trinidad ...
Report on Insurance and Pensions 2007 - Central Bank of Trinidad ...
Report on Insurance and Pensions 2007 - Central Bank of Trinidad ...
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SUMMARY OF BALANCE SHEETS OF INCORPORATED COMPANIES<br />
TRINIDAD AND TOBAGO INSURANCE LIMITED<br />
INCORPORATED – 1963<br />
Directors: ANTHONY N. SABGA; RAY A. SUMAIRSINGH; GERRY BROOKS; VICTOR HERDE; DAVID CLARKE;<br />
MICHAEL MOSES<br />
Secretary: R. LAI FANG<br />
Auditors: ERNST & YOUNG<br />
Countries other than <strong>Trinidad</strong> <strong>and</strong> Tobago in which the company writes business: Barbados.<br />
Summary <strong>of</strong> Balance Sheet in respect <strong>of</strong> <strong>Trinidad</strong> <strong>and</strong> Tobago<br />
business as at 31ST DECEMber, <strong>2007</strong><br />
assets $ $<br />
Investments:<br />
Fixed Deposits with <strong>Bank</strong><br />
Fixed Deposits with Other Financial Instituti<strong>on</strong>s<br />
<strong>Trinidad</strong> <strong>and</strong> Tobago Government Securities<br />
Securities guaranteed by the Gov’t <strong>of</strong> T&T<br />
Other Caricom Government Securities<br />
Ordinary shares in T&T Companies<br />
Ordinary shares in n<strong>on</strong>-T&T Companies<br />
Preference shares in T&T Companies<br />
B<strong>on</strong>ds <strong>and</strong> Debentures in T&T Companies<br />
B<strong>on</strong>ds <strong>and</strong> Debentures in n<strong>on</strong>-T&T Companies<br />
Investment in dependent companies (insurance)<br />
Investment in dependent companies (n<strong>on</strong>-insurance)<br />
Cash Deposits with the Supervisor <strong>of</strong> <strong>Insurance</strong><br />
Cash <strong>on</strong> Current Account <strong>and</strong> in h<strong>and</strong><br />
Outst<strong>and</strong>ing Premiums:<br />
Amounts due from Agents <strong>and</strong> sub-agents<br />
Amounts due from Brokers<br />
Amounts due from Policyholders<br />
Interest, dividends <strong>and</strong> rents accruing but not due<br />
Sundry Debtors<br />
Fixed Assets<br />
Other Assets<br />
3,104,653<br />
71,703,318<br />
13,013,800<br />
15,362,459<br />
6,045,552<br />
62,899,371<br />
17,880,708<br />
14,000<br />
45,760,715<br />
49,833,934<br />
6,861,241<br />
24,443,630<br />
316,923,381<br />
1,113,038<br />
856,561<br />
533,066<br />
14,393,404<br />
9,867,105<br />
5,856,104<br />
5,826,700<br />
68,129,639<br />
42,065,697<br />
TOTAL ASSETS<br />
<strong>Insurance</strong> Funds:<br />
Unearned Premiums Reserve<br />
Unexpired Risk reserve<br />
Claims admitted or intimated but not paid<br />
Outst<strong>and</strong>ing Commissi<strong>on</strong>s<br />
Amount due to Reinsurers<br />
Other Liabilities<br />
liabilities $ $<br />
68,290,276<br />
61,044,213<br />
7,246,063<br />
65,776,419<br />
1,598,452<br />
7,066,019<br />
61,138,146<br />
465,564,695<br />
NET LIABILITIES<br />
Paid-up Share Capital<br />
Share Premium Account<br />
N<strong>on</strong>- Admissable Assets Adjustment<br />
Unrealised Revaluati<strong>on</strong> Reserves<br />
Retained Account<br />
Other<br />
TOTAL LIABILITIES<br />
203,869,312<br />
19,069,595<br />
32,944<br />
(13,278,220)<br />
37,009,583<br />
159,385,681<br />
59,475,800<br />
465,564,695<br />
REPORT ON INSURANCE AND PENSIONS 111
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