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Report on Insurance and Pensions 2007 - Central Bank of Trinidad ...

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INSURANCE COMPANIES<br />

New Business Written<br />

3.03 Eleven (11) companies which wrote new business in 2006 submitted the required informati<strong>on</strong><br />

under this capti<strong>on</strong>.<br />

Details are as follows: -<br />

<strong>2007</strong> 2006<br />

Number <strong>of</strong> Policies<br />

Sum Assured<br />

Annual Premiums<br />

85,851<br />

$10,443,851,280<br />

$776,689,876<br />

66,658<br />

$9,421,167,730<br />

$431,997,166<br />

New Business underwritten during the years 2003 to <strong>2007</strong> was distributed as follows:<br />

Percentage <strong>of</strong> New <strong>Insurance</strong> Issued (Sum Assured)<br />

2003 2004 2005 2006 <strong>2007</strong><br />

Local Companies 92 92 86 87 88<br />

Regi<strong>on</strong>al 8 8 14 13 12<br />

Other - - - - -<br />

(See Figure 5)<br />

Existing Business<br />

3.04 Sixteen (16) Life Companies registered under the Act submitted Returns in respect <strong>of</strong><br />

insurance existing.<br />

The informati<strong>on</strong> is summarized as follows:<br />

<strong>2007</strong> 2006<br />

Number <strong>of</strong> Policies<br />

Sum Assured<br />

600,142<br />

$73,201,836,490<br />

538,950<br />

$58,376,775,496<br />

14<br />

REPORT ON INSURANCE AND PENSIONS

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