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

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TABLES TABLE XVIII REVENUE ACCOUNT IN RESPECT OF LIABILITY INSURANCE - 2007 COMPANIES REVENUE EXPENDITURE 1. LOCAL American Life and General Insurance Company (T&T) Ltd. FUND AT THE BEGINNING OF YEAR Unearned Premium Reserve $ 1,249,048 Outstanding Claims Reserve 4,320,087 Premiums 3,188,464 Commissions Received 1,678,296 NET Interest 575,262 Other Transfer from Profit & Loss Account TOTAL Payment of Claims Includung Legal and Medical Expenses 695,108 Expenses of Management 466,769 696,662 2,135,418 FUND AT END OF YEAR Commissions Other TOTAL Reserve for Unearned Premium $ $ $ $ $ $ $ $ $ $ $ $ $ $ 11,053,864 1,069,286 Transfer to Profit & Loss Account 1,647,254 Reserve for OUTSTANDING CLAIMS 4,343,366 11,053,864 2. Bankers Insurance Company (T&T) Ltd. 758,381 685,514 1,292,684 2,772,862 161,211 165,857 245,048 771,088 666,217 763,439 2,772,860 3. Capital Insurance Ltd. 4. Colonial Fire & General Insurance Company Ltd. 2,209,568 2,403,994 5,315,537 813,300 336,300 1,809,597 12,896,767 2,256,620 947,601 1,731,674 606,818 2,838,568 4,515,486 12,896,767 5. Furness Anchorage General Insurance Ltd. 1,163,789 23,456 2,713,722 375,782 238,813 4,576,814 182,192 528,254 288,669 1,557,337 1,812,318 208,044 4,576,814 6. GTM Fire Insurance Co. Ltd. 1,655,327 1,698,721 3,826,998 221,706 234,564 7,695,792 1,039,982 460,077 1,150,228 1,195,750 2,103,967 1,745,789 7,695,793 7. Guardian General Insurance Ltd. 11,165,347 46,517,742 36,639,101 707,981 2,918,344 4,263 731,393 98,684,172 16,307,625 5,549,944 5,366,059 2,099,419 13,232,749 56,128,374 98,684,172 8. Gulf Insurance Ltd. 475,101 1,574,340 2,583,395 139,106 595,357 481,803 5,869,718 921,686 169,917 642,959 1,184,986 1,293,988 1,656,182 5,869,717 9. Maritime General Insurance Company Ltd. 1,292,226 3,603,391 2,887,021 120,134 360,690 896,172 9,159,634 2,684,105 590,153 445,370 1,402,758 4,037,247 9,159,633 10. Nationwide Insurance (Casualty & General) Co. Ltd. I N C O M P U L S O R Y L I Q U I D A T I O N 11. N.E.M. (West Indies) Insurance Ltd. T R A N S F E R T O G G I L 12. Royal Caribbean Insurance Ltd. 78,558 1,189 2,405 82,152 82,152 82,152 13. The Beacon Insurance Company Ltd. 4,517,593 2,644,102 14,730,410 1,274,553 215,689 108,243 23,871,611 1,080,230 1,628,490 4,798,064 482,004 2,556,943 8,852,289 4,473,591 23,871,611 14. The Great Northern Insurance Company Ltd. 15. The Mountain General Insurance Company Ltd. WRITING BUSINESS N O T W R I T I N G B U S I N E S S 16. The New India Assurance Company (T&T) Ltd. 285,624 849,363 1,814,689 40,258 3,002,454 140,001 210,879 316,922 110,247 1,345,648 878,757 3,002,454 17. Trinidad & Tobago Insurance Ltd. 3,362,287 18,907,733 7,796,585 1,948,476 1,511,085 33,730,296 4,905,131 1,409,423 1,638,607 5,895,590 4,513,195 15,368,350 33,730,296 TOTAL 28,134,291 83,307,000 82,788,607 7,057,628 6,974,436 238,827 4,069,871 213,396,136 30,373,890 12,729,881 17,090,368 1,178,666 18,113,596 39,708,950 94,200,777 213,396,132 CARIBBEAN 1. Sagicor General Insurance Compnay Ltd. 4,063,414 7,687,269 9,128,038 194,082 21,072,803 4,032,667 1,231,674 2,310,848 5,133,137 8,364,477 21,072,803 2. United Insurance Company Ltd. 1,493,011 1,303,747 4,433,331 317,445 386,668 7,934,202 2,717,859 624,072 149,617 371,996 1,936,222 2,134,440 7,934,206 TOTAL 5,556,425 8,991,016 13,561,369 194,082 317,445 386,668 29,007,005 6,750,526 1,855,746 149,617 371,996 2,310,848 7,069,359 10,498,917 29,007,009 GRAND TOTAL 33,690,716 92,298,016 96,349,976 7,251,710 7,291,881 238,827 4,456,539 242,403,141 37,124,416 14,585,627 17,239,985 1,550,662 20,424,444 46,778,309 104,699,694 242,403,141 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 180 REPORT ON INSURANCE AND PENSIONS
TABLES TABLE XIX REVENUE ACCOUNT IN RESPECT OF PERSONAL ACCIDENT INSURANCE - 2007 COMPANIES REVENUE EXPENDITURE 1. LOCAL American Life and General Insurance Company (T&T) Ltd. FUND AT THE BEGINNING OF YEAR Unearned Premium Reserve $ 20,196,388 Outstanding Claims Reserve 3,349,936 Premiums 43,952,563 Commissions Received 36,148 Interest dividends and rent 2,007,030 Other Transfer from Profit & Loss Account TOTAL Payment of Claims Includung Legal and Medical Expenses 4,675,579 Expenses of Management 1,628,508 5,531,969 16,646,382 FUND AT END OF YEAR Commissions Other Reserve for TOTAL Unearned Premium $ $ $ $ $ $ $ $ $ $ $ $ $ $ 69,542,065 6,806,553 Transfer to Profit & Loss Account 31,194,304 Reserve for OUTSTANDING CLAIMS 3,058,770 69,542,065 2. Brititsh-American Insurance Company (Trinidad) Ltd. 3. Capital Insurance Ltd. 4. Colonial Fire & General Insurance Company Ltd. 96,676 13,167 267,135 14,658 391,636 747 73,454 75,477 152,600 75,591 13,767 391,636 5. Furness Anchorage General Insurance Ltd. 40 40 40 40 6. GTM Fire Insurance Co. Ltd. 4,748 4,519 891 221 234 10,613 855 4,845 2,864 2,049 10,613 7. Guardian General Insurance Ltd. 275,848 314,127 1,203,912 21,079 1,814,966 51,166 165,123 155,472 942,211 277,507 223,487 1,814,966 8. Maritime General Insurance Company Ltd. 6,851 6,275 113,212 784 203,450 330,572 61,888 265,517 3,168 330,573 9. Mega Insurance Company Ltd. 10. Nationwide Insurance (Casualty & General) Co. Ltd. I N C O M P U L S O R Y L I Q U I D A T I O N 11. N.E.M. (West Indies) Insurance Ltd. T R A N S F E R T O G G I L 12. The Beacon Insurance Company Ltd. 2,153,260 640,092 7,761,273 10 56,265 2,161,312 12,772,212 4,727,832 634,104 1,251,647 12,263 4,935,319 1,211,047 12,772,212 13. The New India Assurance Company (T&T) Ltd. 223 375 281 753 1,632 412 150 847 223 1,632 14. Trinidad and Tobago Insurance Ltd. 21,060 7,183 53,488 22,080 10,800 114,611 7,435 7,542 11,712 57,682 24,450 5,791 114,611 15. The Western General Insurance Company Ltd. TOTAL 22,755,093 4,324,505 53,249,540 172,622 2,110,837 234 2,365,515 84,978,347 9,463,171 7,749,669 3,394,025 5,544,232 17,801,779 36,512,612 4,512,862 84,978,348 CARIBBEAN 1. Sagicor General Insurance Company Ltd. 36,777 96,089 263,833 396,699 12,060 48,258 336,381 396,699 2. United Insurance Company Ltd. 8,229 907 20,209 1,345 30,690 2,644 634 1,577 16,553 8,777 506 30,691 TOTAL 45,006 907 116,298 1,345 263,833 427,389 14,704 634 1,577 16,553 57,035 336,887 427,390 GRAND TOTAL 22,800,099 4,325,412 53,365,838 172,622 2,112,182 234 2,629,348 85,405,736 9,463,171 7,764,373 3,394,659 5,545,809 17,818,332 36,569,647 4,849,749 85,405,738 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - REPORT ON INSURANCE AND PENSIONS 181
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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
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APPENDIX B LIST OF REGISTERED AGENT
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List of Registered Agents List of A
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Page 132 and 133: 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 166 and 167: 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 1. 1
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 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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