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 ...
1. 2. 3. 4. 1. 2. 1. 2. 3. 4. 1. 2. TABLES TABLE XIXA REVENUE ACCOUNT IN RESPECT OF GROUP HEALTH INSURANCE - 2007 INCOME COMPANIES FUND AT BEGINNING OF YEAR Unearned Premium Reserve Outstanding Claims Reserve PREMIUMS COMMISSION RECEIVED NET Interest Other Transfer from Profit & Loss Account TOTAL LOCAL $ $ $ $ $ $ $ $ American Life and General Insurance Company (T&T) Ltd. 769,000 5,718,334 18,178,752 581,267 2,210,038 27,457,391 Colonial Fire & General Insurance Company Ltd. 4,839,467 62,679,472 67,518,939 Guardian Life of the Caribbean Ltd. 14,421,683 121,066,824 607,922 136,096,429 Trinidad and Tobago Insurance Ltd. 892,307 1,897,935 10,917,597 923,745 14,631,584 TOTAL 6,500,774 22,037,952 212,842,645 0 1,505,012 607,922 2,210,038 245,704,342 CARIBBEAN Life of Barbados Sagicor Life Inc. 5,470,888 60,256,748 (2,306,781) 591,019 64,011,874 TOTAL 5,470,888 60,256,748 (2,306,781) 591,019 64,011,874 GRAND TOTAL 11,971,662 22,037,952 273,099,393 (801,769) 607,922 2,801,057 309,716,216 EXPENDITURE COMPANIES FUND AT END OF YEAR LOCAL American Life and General Insurance Company (T&T) Ltd. Payment of Claims Including Legal and Medical Expenses COMMISSIONS OTHER Reserve for Expenses of Management Unearned Premium Reserve for Outstanding Claims $ $ $ $ $ $ $ 11,420,010 1,838,550 6,289,043 71,951 Transfer to Profit & Loss Account $ 951,114 6,886,723 TOTAL 27,457,391 Colonial Fire & General Insurance Company Ltd. 45,591,364 2,362,975 14,204,668 0 0 5,359,933 0 67,518,940 Guardian Life of the Caribbean Limited 24,276,722 12,592,046 9,096,420 3,731,126 83,534,984 0 2,865,129 136,096,427 Trinidad and Tobago Insurance Ltd 6,468,821 233,115 1,001,700 0 3,925,772 882,684 2,119,492 14,631,584 TOTAL 87,756,917 17,026,686 30,591,831 3,803,077 87,460,756 7,193,731 11,871,344 245,704,342 CARIBBEAN Life of Barbados Sagicor Life Inc. 43,300,552 4,239,543 6,280,527 0 10,191,253 0 64,011,875 TOTAL 43,300,552 4,239,543 6,280,527 0 10,191,253 0 64,011,875 GRAND TOTAL 131,057,469 21,266,229 36,872,358 3,803,077 87,460,756 17,384,984 11,871,344 309,716,216 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 182 REPORT ON INSURANCE AND PENSIONS
1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 1. 2. TABLES TABLE XX REVENUE ACCOUNT IN RESPECT OF MARINE AVIATION AND TRANSPORT INSURANCE - 2007 COMPANIES REVENUE EXPENDITURE LOCAL FUND AT THE BEGINNING OF YEAR Unearned Premium Reserve $ Outstanding Claims Reserve Premiums Commissions Received NET Interest Other Transfer from Profit & Loss Account TOTAL Payment of Claims Includung Legal and Medical Expenses Commissions Other TOTAL Expenses of Management Transfer to Profit & Loss Account FUND AT END OF YEAR Reserve for Unearned Premium $ $ $ $ $ $ $ $ $ $ $ $ $ $ Reserve for OUTSTANDING CLAIMS $ American Life and General Insurance Company (T&T) Ltd. 26,408 36,617 63,025 29,711 7,322 25,992 63,025 Bankers Insurance Company (T&T) Ltd. 650 650 650 650 Colonial Fire & General Insurance Company Ltd. 120,257 182,001 348,262 100,289 18,233 769,042 10,139 106,277 93,888 250,166 110,091 198,481 769,042 Furness Anchorage General Insurance Ltd. 94,713 164,452 4,725 18,117 282,007 14,799 12,221 152,149 102,838 282,007 GTM Fire Insurance Co. Ltd. 63,528 30,750 102,140 3,958 4,187 204,563 1,219 12,377 55,170 3,886 77,462 54,450 204,563 Gulf Insurance Ltd. (66,673) 163,944 7,557 126,488 1,742 279,684 512,742 218,863 34,188 1,881 21,310 236,500 512,742 Guardian General Insurance Ltd. (102,010) 1,038,233 1,067,766 1,075,195 29,208 1,632 3,110,025 268,551 230,899 753,119 1,163,251 (15,107) 709,311 3,110,026 Maritime General Insurance Company Ltd. 34,633 717,183 674,297 124,636 84,243 1,634,992 99,710 186,142 149,925 438,800 50,384 710,031 1,634,992 N.E.M. (West Indies) Insurance Ltd. T R A N S F E R T O G G I L Royal Caribbean Insurance Ltd. The Beacon Insurance Company Ltd. 3,118,333 374,478 3,442,682 1,320,750 69,262 8,325,505 (300,999) 973,344 1,540,757 522,100 2,980,230 2,145,795 464,278 8,325,505 The New India Assurance Company (T&T) Ltd. 4,201 14,953 9,324 6,993 35,471 (403) 2,749 6,761 16,345 5,546 4,473 35,471 The Reinsurance Company of Trinidad and Tobago Ltd. 45,725 16,539 295,267 947,134 1,304,665 165,384 150,238 288,959 663,625 416 36,043 1,304,665 Trinidad & Tobago Insurance Ltd. 408,120 1,203,588 4,622,485 1,120,186 677,352 8,031,731 206,752 69,879 734,515 5,443,017 387,800 1,189,768 8,031,731 TOTAL 3,721,477 3,741,669 10,734,233 4,852,804 938,732 5,820 279,684 24,274,419 669,216 1,780,892 3,666,907 529,422 11,138,111 2,886,535 3,603,335 24,274,419 CARIBBEAN Sagicor General Insurance Company Ltd. 1,211,329 299,903 2,624,669 23,280 386,408 4,545,589 255,883 635,003 1,281,866 1,697,933 674,904 4,545,589 United Insurance Company Ltd. 113,306 98,733 271,184 18,192 501,415 87,561 35,763 8,574 21,318 183,059 128,555 36,586 501,416 TOTAL GRAND TOTAL 1,324,635 5,046,112 398,636 4,140,305 2,895,853 13,630,086 23,280 4,876,084 18,192 956,924 5,820 386,408 666,092 5,047,004 29,321,423 343,444 1,012,660 670,766 2,451,658 8,574 3,675,481 21,318 - 550,740 1,464,925 12,603,036 1,826,488 4,713,023 711,490 4,314,825 5,047,005 29,321,424 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - REPORT ON INSURANCE AND PENSIONS 183
- Page 134 and 135: List of Registered Agents List of A
- Page 136 and 137: List of Registered Agents List of A
- Page 138 and 139: List of Registered Agents List of A
- Page 140 and 141: 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 152 and 153: Appendix e INSURED PENSION FUND PLA
- Page 154 and 155: 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
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- Page 172 and 173: TABLES TABLE X COMPANIES LOCAL 1. A
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- 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 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
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- 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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TABLES<br />
TABLE XX<br />
REVENUE ACCOUNT IN RESPECT OF MARINE AVIATION AND TRANSPORT INSURANCE - <strong>2007</strong><br />
COMPANIES<br />
REVENUE EXPENDITURE<br />
LOCAL<br />
FUND AT THE<br />
BEGINNING OF YEAR<br />
Unearned<br />
Premium<br />
Reserve<br />
$<br />
Outst<strong>and</strong>ing<br />
Claims<br />
Reserve<br />
Premiums<br />
Commissi<strong>on</strong>s<br />
Received<br />
NET<br />
Interest<br />
Other<br />
Transfer<br />
from<br />
Pr<strong>of</strong>it & Loss<br />
Account<br />
TOTAL<br />
Payment<br />
<strong>of</strong> Claims<br />
Includung<br />
Legal <strong>and</strong><br />
Medical<br />
Expenses<br />
Commissi<strong>on</strong>s Other<br />
TOTAL<br />
Expenses<br />
<strong>of</strong><br />
Management<br />
Transfer to<br />
Pr<strong>of</strong>it &<br />
Loss<br />
Account<br />
FUND AT END OF YEAR<br />
Reserve for<br />
Unearned<br />
Premium<br />
$ $ $ $ $ $ $<br />
$ $ $ $ $ $ $<br />
Reserve for<br />
OUTSTANDING<br />
CLAIMS<br />
$<br />
American Life <strong>and</strong> General <strong>Insurance</strong> Company<br />
(T&T) Ltd.<br />
26,408<br />
36,617<br />
63,025<br />
29,711<br />
7,322<br />
25,992<br />
63,025<br />
<strong>Bank</strong>ers <strong>Insurance</strong> Company (T&T) Ltd.<br />
650<br />
650<br />
650<br />
650<br />
Col<strong>on</strong>ial Fire & General <strong>Insurance</strong> Company Ltd.<br />
120,257 182,001 348,262 100,289 18,233<br />
769,042 10,139 106,277 93,888<br />
250,166 110,091 198,481 769,042<br />
Furness Anchorage General <strong>Insurance</strong> Ltd.<br />
94,713<br />
164,452 4,725 18,117<br />
282,007<br />
14,799 12,221<br />
152,149 102,838<br />
282,007<br />
GTM Fire <strong>Insurance</strong> Co. Ltd.<br />
63,528 30,750 102,140<br />
3,958 4,187<br />
204,563 1,219 12,377 55,170<br />
3,886 77,462 54,450 204,563<br />
Gulf <strong>Insurance</strong> Ltd.<br />
(66,673) 163,944 7,557 126,488 1,742<br />
279,684 512,742 218,863 34,188 1,881<br />
21,310 236,500 512,742<br />
Guardian General <strong>Insurance</strong> Ltd.<br />
(102,010) 1,038,233 1,067,766 1,075,195 29,208 1,632<br />
3,110,025 268,551 230,899 753,119<br />
1,163,251 (15,107) 709,311 3,110,026<br />
Maritime General <strong>Insurance</strong> Company Ltd.<br />
34,633 717,183 674,297 124,636 84,243<br />
1,634,992 99,710 186,142 149,925<br />
438,800 50,384 710,031 1,634,992<br />
N.E.M. (West Indies) <strong>Insurance</strong> Ltd.<br />
T R A N S F E R T O G G I L<br />
Royal Caribbean <strong>Insurance</strong> Ltd.<br />
The Beac<strong>on</strong> <strong>Insurance</strong> Company Ltd.<br />
3,118,333 374,478 3,442,682 1,320,750 69,262<br />
8,325,505 (300,999) 973,344 1,540,757 522,100 2,980,230 2,145,795 464,278 8,325,505<br />
The New India Assurance Company (T&T) Ltd.<br />
4,201 14,953 9,324 6,993<br />
35,471 (403) 2,749 6,761<br />
16,345 5,546 4,473 35,471<br />
The Reinsurance Company <strong>of</strong> <strong>Trinidad</strong> <strong>and</strong> Tobago Ltd. 45,725 16,539 295,267 947,134<br />
1,304,665 165,384 150,238 288,959<br />
663,625<br />
416 36,043 1,304,665<br />
<strong>Trinidad</strong> & Tobago <strong>Insurance</strong> Ltd.<br />
408,120 1,203,588 4,622,485 1,120,186 677,352<br />
8,031,731 206,752 69,879 734,515<br />
5,443,017 387,800 1,189,768 8,031,731<br />
TOTAL<br />
3,721,477 3,741,669 10,734,233 4,852,804 938,732 5,820 279,684 24,274,419 669,216 1,780,892 3,666,907 529,422 11,138,111 2,886,535 3,603,335 24,274,419<br />
CARIBBEAN<br />
Sagicor General <strong>Insurance</strong> Company Ltd.<br />
1,211,329 299,903 2,624,669 23,280<br />
386,408 4,545,589 255,883 635,003<br />
1,281,866 1,697,933 674,904 4,545,589<br />
United <strong>Insurance</strong> Company Ltd.<br />
113,306 98,733 271,184<br />
18,192<br />
501,415 87,561 35,763 8,574 21,318 183,059 128,555 36,586 501,416<br />
TOTAL<br />
GRAND TOTAL<br />
1,324,635<br />
5,046,112<br />
398,636<br />
4,140,305<br />
2,895,853<br />
13,630,086<br />
23,280<br />
4,876,084<br />
18,192<br />
956,924<br />
5,820<br />
386,408<br />
666,092<br />
5,047,004<br />
29,321,423<br />
343,444<br />
1,012,660<br />
670,766<br />
2,451,658<br />
8,574<br />
3,675,481<br />
21,318<br />
-<br />
550,740<br />
1,464,925<br />
12,603,036<br />
1,826,488<br />
4,713,023<br />
711,490<br />
4,314,825<br />
5,047,005<br />
29,321,424<br />
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REPORT ON INSURANCE AND PENSIONS 183
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