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

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1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 1. 1. TABLES TABLE V REVENUE ACCOUNT IN RESPECT OF GROUP LIFE INSURANCE - 2007 INCOME COMPANIES FUNDS AT THE BEGINNING OF THE YEAR PREMIUMS CONSIDERATION FOR ANNUITIES AND OTHER DEPOSITS TOTAL PREMIUMS COMMISSION RECEIVED NET Interest Other Transfers from Reserves TOTAL Other Other SINGLE SINGLE LOCAL $ $ $ $ $ $ $ $ $ $ $ American Life and General Insurance Company (T&T) Ltd. 48,198 10,960,165 10,960,165 3,566 11,011,929 Bancassurance Caribbean Ltd. 14,921,231 1,475,296 1,475,296 2,639,823 (473,614) 18,562,736 Colonial Life Insurance Company (Trinidad) Ltd. 18,481,432 16,441,737 16,441,737 1,173,416 36,096,586 Cuna Caribbean Insurance Society Ltd. 36,539,273 36,539,273 2,912,642 39,451,915 Guardian General Insurance Ltd. 232,818 10,519 243,338 Guardian Life of the Caribbean Ltd. 5,964,699 18,755,542 18,755,542 290,249 (540,956) 24,469,534 Maritime Life (Caribbean) Ltd. 881,495 881,495 881,495 Scotialife Trinidad and Tobago Ltd. 2,185,925 14,513,673 14,513,673 1,968,066 18,667,664 Tatil Life Assurance Ltd. 467,324 14,032 2,396,083 2,410,115 7,922,646 4,485,621 15,285,706 The Beacon Insurance Company Ltd. 50,200 153,900 153,900 386,999 2,127 593,226 TOTAL 42,351,827 34,758,543 67,372,654 0 0 102,131,197 386,999 16,923,055 3,471,051 0 165,264,129 CARIBBEAN Sagicor Life Inc. 2,358,040 14,143,483 14,143,483 447,202 181,157 334,440 17,464,322 TOTAL 2,358,040 14,143,483 14,143,483 447,202 181,157 334,440 17,464,322 OTHER Sun Life Assurance Company of Canada 14,070 14,070 14,070 TOTAL 14,070 14,070 14,070 GRAND TOTAL 44,709,867 34,758,543 81,530,207 0 0 116,288,750 834,201 17,104,212 3,805,491 0 182,742,521 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 164 REPORT ON INSURANCE AND PENSIONS
TABLES TABLE V continued REVENUE ACCOUNT IN RESPECT OF GROUP LIFE INSURANCE - 2007 EXPENDITURE COMPANIES CLAIMS Surrender (including Surrender of Bonuses) LOCAL DEATH MATURITIES OTHER Annuities Total Policy Payments OTHER EXPENSES Other Transfers Commissions Expenses of Management Funds at the end of the Year to Profit and Loss $ $ $ $ $ $ $ $ $ $ $ $ TOTAL 1. American Life and General Insurance Company (T&T) Ltd. 4,818,386 4,818,386 1,235,930 4,115,196 (3,783) 50,009 796,191 11,011,929 2. Bancassurance Caribbean Ltd. 17,924,030 17,924,030 861,406 135,060 2,172,589 (2,530,349) 18,562,736 3. Colonial Life Insurance Company (Trinidad) Ltd. 12,478,538 12,478,538 1,176,990 8,657,781 598,016 18,481,432 (5,296,170) 36,096,586 4. Cuna Caribbean Insurance Society Ltd. 22,657,108 22,657,108 594,149 5,963,622 10,237,036 39,451,915 5. Guardian General Insurance Ltd. 249,997 (6,659) 243,338 6. Guardian Life of the Caribbean Ltd. 3,039,057 3,039,057 1,245,186 2,932,551 6,100,591 11,152,150 24,469,534 7. Maritime Life (Caribbean) Ltd. 586,000 586,000 38,732 74,204 182,559 881,495 8. Scotialife Trinidad and Tobago Ltd. 588,203 588,203 656,701 862,880 7,398,769 9,161,112 18,667,664 9. Tatil Life Assurance Ltd. 742,000 742,000 60,202 217,158 78,760 453,027 13,734,559 15,285,706 10. The Beacon Insurance Company Ltd. (7,500) (7,500) 7,452 47,317 72,954 46,900 426,103 593,226 TOTAL 62,247,321 578,500 62,825,821 5,015,342 23,732,115 881,006 34,953,313 37,856,532 165,264,128 CARIBBEAN 1. Sagicor Life Inc. 4,908,933 4,908,933 2,054,751 3,088,775 2,355,026 5,056,837 17,464,322 TOTAL 4,908,933 0 0 0 0 4,908,933 2,054,751 3,088,775 0 2,355,026 5,056,837.00 17,464,322 OTHER 1. Sun Life Assurance Company of Canada 22,000 5,368 27,368 (13,298) 14,070 TOTAL 22,000 27,368 14,070 GRAND TOTAL 67,178,254 0 578,500 0 0 67,762,122 7,070,093 26,820,890 881,006 37,308,339 42,913,369 182,742,520 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - REPORT ON INSURANCE AND PENSIONS 165
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ISSN 1995-7173
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TABLE OF CONTENTS Paragraph Referen
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TABLE OF CONTENTS LIST OF TABLES TA
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OVERVIEW OF THE INSURANCE INDUSTRY
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PART I - INSURANCE COMPANIES 3. LON
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INSURANCE COMPANIES New Business Wr
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INSURANCE COMPANIES FIGURE 5 Long-T
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INSURANCE COMPANIES 3.06 Policies d
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INSURANCE COMPANIES 3.10 Assets pla
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INSURANCE COMPANIES Local Assets Ra
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INSURANCE COMPANIES 3.17 Net Premiu
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INSURANCE COMPANIES FIGURE 7 Long-T
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INSURANCE COMPANIES REINSURANCE 3.1
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GENERAL INSURANCE BUSINESS 4. GENER
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INSURANCE COMPANIES Statutory Depos
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INSURANCE COMPANIES DEPOSITS RETAIN
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INSURANCE COMPANIES GENERAL INSURAN
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INSURANCE COMPANIES SCHEDULE SHOWIN
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INSURANCE COMPANIES Underwriting Re
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INSURANCE COMPANIES REINSURANCE - M
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INSURANCE COMPANIES SCHEDULE SHOWIN
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INSURANCE COMPANIES FIGURE 10 OTHER
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INSURANCE COMPANIES REINSURANCE - P
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INSURANCE COMPANIES REINSURANCE - O
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INSURANCE COMPANIES MARGIN OF SOLVE
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INSURANCE COMPANIES 5. ASSOCIATION
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INSURANCE INTERMEDIARIES Examinatio
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PENSION FUND PLANS 7.09 The followi
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PENSION FUND PLANS Balance Sheets 7
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PENSION FUND PLANS FIGURE 12 PENSIO
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ACTUARIAL INVESTIGATIONS SUMMARIES
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APPENDIX A Directors: Secretary: Au
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APPENDIX A Directors: Secretary: Au
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APPENDIX A CARIBBEAN INSURANCE COMP
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APPENDIX A COLONIAL FIRE AND GENERA
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APPENDIX A CUNA CARIBBEAN INSURANCE
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APPENDIX A FURNESS ANCHORAGE GENERA
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APPENDIX A GUARDIAN GENERAL INSURAN
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APPENDIX A GULF INSURANCE LIMITED I
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APPENDIX A MARITIME LIFE (CARIBBEAN
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APPENDIX A MOTOR ONE INSURANCE COMP
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APPENDIX A THE REINSURANCE COMPANY
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APPENDIX A SAGICOR GENERAL INSURANC
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APPENDIX A SCOTIALIFE INSURANCE LIM
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APPENDIX A TATIL LIFE ASSURANCE LIM
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APPENDIX A THE GREAT NORTHERN INSUR
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APPENDIX A THE PRESIDENTIAL INSURAN
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APPENDIX A UNITED INSURANCE COMPANY
Page 116 and 117: APPENDIX B LIST OF REGISTERED AGENT
Page 118 and 119: List of Registered Agents List of A
Page 142 and 143: APPENDIX C LIST OF BROKERS REGISTER
Page 144 and 145: APPENDIX D LIST OF REGISTERED ADJUS
Page 146 and 147: Appendix e LIST OF PENSION PLANS RE
Page 148 and 149: Appendix e LIST OF PENSION PLANS RE
Page 150 and 151: Appendix e INSURED PENSION FUND PLA
Page 156 and 157: Appendix e ANNUITIES 1. A.S. Bryden
Page 158 and 159: Appendix e list of registered pensi
Page 160 and 161: TABLES TABLE I REVENUE ACCOUNT IN R
Page 162 and 163: - 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11
Page 164 and 165: 1. 2. 3. 4. 1. 2. 3. 4. TABLES TABL
Page 168 and 169: 1. 2. 3. 4. 5. TABLES TABLE VI REVE
Page 170 and 171: 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11.
Page 172 and 173: TABLES TABLE X COMPANIES LOCAL 1. A
Page 174 and 175: 172TABLES TABLE XIA STATEMENT OF ST
Page 176 and 177: 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11.
Page 178 and 179: TABLES TABLE XV REVENUE ACCOUNT IN
Page 180 and 181: TABLES TABLE XVI REVENUE ACCOUNT IN
Page 182 and 183: TABLES TABLE XVIII REVENUE ACCOUNT
Page 184 and 185: 1. 2. 3. 4. 1. 2. 1. 2. 3. 4. 1. 2.
Page 186 and 187: TABLES TABLE XXI UNDERWRITING RESUL
Page 188 and 189: TABLES TABLE XXIII SUMMARY AND VALU
Page 190 and 191: TABLES TABLE XXV SUMMARY AND VALUAT
Page 192 and 193: TABLES TABLE XXVII SUMMARY AND VALU
Page 194 and 195: TABLES TABLE XXIX SUMMARY AND VALUA
Page 196 and 197: TABLES TABLE XXXI SUMMARY AND VALUA
Page 198 and 199: TABLES TABLE XXXIII DEPOSIT ADMINIS
Page 200 and 201: TABLES TABLE XXXIII continued DEPOS
Page 202 and 203: 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11.
Page 204 and 205: 51. 52. 53. 54. 55. 56. 57. 58. 59.
Page 206 and 207: TABLES TABLE XXXV NAME OF PLAN Fund
Page 208 and 209: TABLES TABLE XXXV continued SELF-AD
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