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

TABLES
TABLE XXI
UNDERWRITING RESULTS IN RESPECT OF PROPERTY INSURANCE - 2007
COMPANIES
Unearned
Premium
(Beginning
of year)
Net
Premium
Written
Unearned
Premium
(end of year)
Net
Premiums
Earned
(1+2)-3
Net
Claims
Incurred
5 as a
per cent of 4
Expenses of
Management
and Net
Commissions
7 as a
per cent of 4
Total
Premium
Payments
(7+5)
9 as a
per cent of 4
Profit
or
(Loss) (4-9)
Profit
or
(Loss)
per cent
1.
LOCAL
American Life and General Insurance Company (T&T)
Ltd.
$ $ $ $ $
% $ % $ % $ %
6,010,868
11,997,794
6,241,450
11,767,212
6,620,872
56.27
4,977,210
42.30
11,598,082
98.56
169,130
1.44
2. Bankers Insurance Company (T&T) Ltd.
236,055 1,183,641 412,678 1,007,018 902,986
89.67 183,401
18.21 1,086,387
107.88 (79,369) (7.88)
3. British - American Insurance Company ( Trinidad ) Ltd. 595,232 3,949,718 1,390,683 3,154,267 599,202
19.00 1,160,711
36.80 1,759,913
55.79 1,394,354 44.21
4. Capital Insurance Ltd.
43,028 83,628
66,443 60,213
(57,906) (96.17) (57,906)
(96.17) 118,119 196.17
5.
Citizen Insurance Company Ltd.
I N c o m p u l s o r y L I Q U I D A T I O N
6. Colonial Fire & General Insurance Company Ltd.
6,676,053 7,396,245 6,628,462 7,443,836 1,459,801
19.61 (2,797,909) (37.59) (1,338,108)
(17.98) 8,781,944 117.98
7. Furness Anchorage General Insurance Ltd.
624,309 (4,174) 111,724 508,411 189,952
37.36 645,869 127.04 835,821
164.40 (327,410) (64.40)
8. Gulf Insurance Ltd.
1,328,350 (1,553,306) (670,839) 445,883 125,173
28.07 286,357
64.22 411,530
92.30 34,353
7.70
9. Guardian General Insurance Company Ltd.
7,693,602 17,703,239 7,211,986 18,184,856 8,002,759
44.01 7,921,540
43.56 15,924,299
87.57 2,260,557 12.43
10. GTM Fire Insurance Company Ltd.
3,325,450 3,359,910 3,344,625 3,340,735 1,494,815
44.75 2,870,122
85.91 4,364,937
130.66 (1,024,203) (30.66)
11.
12.
Maritime General Insurance Company Ltd.
Natiionwide Insurance (Casualty & General) Co. Ltd.
2,250,486 4,925,892 2,617,533 4,558,845 770,584
16.90 3,527,290
77.37 4,297,874
94.28 260,971
5.72
N O A C C O U N T S S U B M I T T E D
13. N.E.M. (West Indies) Insurance Ltd.
TRANSFER
T R A N S F E R T O G G I L
14. Royal Caribbean Insurance Ltd.
69,014
1,057
70,071
(70,071)
15.
16.
The Beacon Insurance Company Ltd.
Thr Goodwill General Insurance Company Ltd.
2,724,949 3,554,455 2,514,731 3,764,673 829,859
22.04 7,089,482 188.32 7,919,341
210.36 (4,154,668) (110.36)
I N c o m p u l s o r y L I Q U I D A T I O N
17.
The Great Northern Insurance Company Ltd.
N O A C C O U N T S S U B M I T T E D
18.
19.
The Mountain General Insurance Company Ltd.
The New India Assurance Company (T&T) Ltd.
N O T W R I T I N G B U S I N E S S
1,568,753 1,136,323 1,659,701 1,045,375 958,569
91.70 1,312,481 125.55 2,271,050
217.25 (1,225,675) (117.25)
20. The Reinsurance Company of T&T Ltd.
300,450 1,058,337 464,485 894,302 323,899
36.22 (142,887) (15.98) 181,012
20.24 713,289 79.76
21. Trinidad & Tobago Insurance Ltd.
5,540,330 4,294,590 7,065,362 2,769,558 3,211,916 115.97 (220,900)
(7.98) 2,991,016
108.00 (221,458) (8.00)
TOTAL
38,917,916 59,086,292 39,059,024 58,945,183 25,559,402
43.36 26,755,918
45.39 52,315,320
88.75 6,629,863 11.25
CARIBBEAN
1. Sagicor General Insurance Company Ltd.
8,620,036 (165,804) 5,894,466 2,559,766 5,399,956 210.96 (344,580) (13.46) 5,055,376
197.49 (2,495,610) (97.49)
2. United Insurance Company Ltd.
1,890,373 4,382,868 2,002,482 4,270,759 1,423,438
33.33 (2,147,868) (50.29) (724,430)
(16.96) 4,995,189 116.96
TOTAL
GRAND TOTAL
10,510,409
49,428,325
4,217,064
63,303,356
7,896,948
46,955,972
6,830,525
65,775,708
6,823,394
32,382,796
244
49.23
(2,492,448)
24,263,470
(64)
36.89
4,330,946
56,646,266
181
86.12
2,499,579
9,129,442
19
13.88
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-
-
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184
REPORT ON INSURANCE AND PENSIONS