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

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TABLES TABLE XXXV NAME OF PLAN Fund at the beginning of period $ 1. Agostini Insurance Brokers Limited Pension Fund Plan 35,938,842 2. Agostini Limited Retirement Plan 61,898,699 3. Airports Authority of Trinidad and Tobago Pension Fund 80,322,489 4. Alstons Limited Pension Fund Plan 5. Amoco Trinidad Oil Company Pension Fund Plan 481,120,958 6. ANSA Mc Al Limited Pension Fund Plan 57,671,052 7. Associated Brands Limited Group Pension Fund Plan 43,891,851 8. Atlantic LNG Pension Plan 39,850,847 9. Bank of Commerce Trinidad and Tobago Limited Retirement Plan 195,803,599 10. Bawodes Pension Fund Plan 8,927,861 11. Berger Paints Trinidad Limited Pension Fund Plan (Monthly Paid Employees) 28,308,907 12. British-American Insurance Company (Trinidad) Limited Pension Fund Plan 19,394,981 13. British Gas Trinidad Limited Pension Plan 25,341,363 14. BWIA General Staff Pension Fund Plan 15. BWIA Pilots Pension Plan 16. Caribbean Industrial Research Institute Pension Fund Plan 117,891,833 17. Central Bank of Trinidad and Tobago Pension Fund Plan 18. Citibank (Trinidad and Tobago) Limited Pension Plan 78,579,247 19. Coca Cola Bottling (Trinidad and Tobago ) Limited Pension Fund Plan 17,959,206 20. Consolidated Insurance Consultants Limited Staff Pension Fund Plan 94,358,672 21. Coopers and Lybrand Pension Fund Plan 38,136,650 22. Courts (Trinidad) Limited Pension Plan 18,590,464 23. Cuna Caribbean Insurance Society Pension Fund Plan 27,726,867 24. Development Finance Limited Pension Fund Plan 36,238,457 25. EOG Resources Trinidad Limited Pension Fund Plan 9,472,538 Carried Forward 1,517,425,383 SELF-ADMINISTERED PENSION FUND PLANS - REVENUE ACCOUNT-2007 CONTRIBUTIONS BY SUPERANNUATION BENEFITS EMPLOYERS $ EMPLOYEES $ ADDITIONAL CONTRIBUTION BY EMPLOYER TO MEET DEFICIENCY $ INTERESTS DIVIDENDS AND RENT $ OTHER INCOME $ TOTAL REVENUE $ PENSIONS TO RETIRED EMPLOYEES $ RETIREMENT GRATUITIES $ TOTAL $ DEATH GRANTS $ 768,016 613,859 1,519,585 3,021,422 41,861,724 1,214,878 248,261 1,463,139 945,153 945,153 3,457,722 938,153 68,184,880 1,084,001 114,328 1,198,329 550,166 5,191,404 2,318,340 4,719,976 24,769 92,576,978 283,552 833,718 16,864,789 10,651,451 10,536 25,030,226 8,513,085 542,191,045 12,137,340 4,934,911 17,072,251 113,739 1,733,786 1,733,599 3,299,831 2,016,117 66,454,385 280,929 120,269 401,198 1,344,566 1,055,884 2,399,348 756,891 49,448,540 1,416,918 61,614 1,478,532 10,541,539 5,624,835 2,751,541 804,048 59,572,810 20,902 69,674 90,576 32,373 32,373 7,857,214 21,531,134 225,256,693 27,664 289,829 317,493 250,270 140,843 966,089 (596,594) 9,688,469 632,705 632,705 884,297 760,589 29,953,793 797,556 920,354 1,717,910 676,100 676,100 1,082,733 393,412 22,223,326 275,652 49,565 325,217 4,030,235 3,137,525 1,709,781 740,260 34,959,164 45,301 45,301 979 979 16,046,108 20,190 133,960,089 1,954,582 160,407 2,114,989 4,830,631 1,482,000 84,891,878 503,025 339,239 842,264 819,878 842,780 823,100 517,514 20,962,478 344,514 100,774 445,288 22,306 5,400,518 1,950,229 101,709,419 1,745,636 1,745,636 1,151,314 1,151,314 2,145,544 2,796,162 9,698,805 55,079,789 699,408 519,569 1,218,977 1,246,683 1,318,671 800,170 5,749 21,961,737 176,108 277,264 453,372 666,423 333,211 6,000 1,644,481 30,376,982 263,689 117,822 381,511 17,364 2,227,539 1,481,492 39,964,852 325,404 325,404 801,328 574,110 453,178 343,501 11,644,655 50,612 27,342 77,954 47,064,836 31,151,027 2,179,444 89,055,749 56,047,247 1,742,923,686 23,914,285 9,267,479 33,181,764 136,045 RETURN OF CONTRIBUTION ON WITHDRAWAL $ 55,948 139,260 187,440 395,312 270,415 274,512 470,250 34,890 199,230 309,126 92,487 361,521 81,869 6,968 2,879,228 OTHER EXPENDITURE $ 276,801 395,881 1,113,278 4,143,088 935,677 427,863 575,076 1,558,980 385,222 960,902 444,316 643,003 961,974 172,216 720,830 54,918 847,209 1,080,224 2,530,800 154,315 18,382,573 TOTAL EXPENDITURE FUND AT END OF PERIOD $ $ 1,795,888 40,065,836 1,733,470 66,451,410 2,134,436 90,442,542 21,724,390 520,466,655 1,607,290 64,847,095 2,180,907 47,267,633 1,135,902 58,436,908 1,876,473 223,380,220 632,705 9,055,764 2,103,132 27,850,661 1,321,009 20,902,317 688,847 34,270,317 2,757,992 131,202,097 1,804,238 83,087,640 948,936 20,013,542 2,466,466 99,242,953 1,366,382 53,713,407 1,662,102 20,299,635 1,543,604 28,833,378 2,856,204 37,108,648 239,237 11,405,418 54,579,610 1,688,344,076 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 204 REPORT ON INSURANCE AND PENSIONS
TABLES TABLE XXXV continued SELF-ADMINISTERED PENSION FUND PLANS - REVENUE ACCOUNT-2007 CONTRIBUTIONS BY SUPERANNUATION BENEFITS NAME OF PLAN Fund at the beginning of period $ EMPLOYERS $ EMPLOYEES $ ADDITIONAL CONTRIBUTION BY EMPLOYER TO MEET DEFICIENCY $ INTERESTS DIVIDENDS AND RENT $ OTHER INCOME $ TOTAL REVENUE $ PENSIONS TO RETIRED EMPLOYEES $ RETIREMENT GRATUITIES $ TOTAL $ DEATH GRANTS $ Brought Forward 1,517,425,383 47,064,836 31,151,027 2,179,444 89,055,749 56,047,247 1,742,923,686 23,914,285 9,267,479 33,181,764 136,045 26. E & Y Services Limited Pension Scheme 31,537,333 411,599 411,599 1,644,032 1,521,228 35,525,791 1,826,257 15,755 1,842,012 27. Ferreira Optical Limited Pension Fund Plan 11,388,661 309,922 308,482 65,350 1,182,643 13,255,058 11,556 11,556 28. First Citizen Bank Pension Plan 601,727,449 4,799,103 4,799,103 40,230,237 39,871,358 691,427,250 4,193,401 1,575,880 5,769,281 29. Hand Arnold (Trinidad) Limited Employees Pension Scheme 59,689,464 523,616 3,159,282 1,107,421 64,479,783 1,567,487 206,059 1,773,546 64,318 30. H.S. Services Limited Pension Fund Plan 10,959,490 640,380 636,440 5,600 423,788 1,104,481 13,770,179 31. Hydro Agri Trinidad Limited Salaried Employees Pension Plan 32. I A L Engineering Sevices Limited Pension Fund Plan 63,808,589 1,528,329 1,337,761 4,108,118 70,782,797 765,071 337,300 1,102,371 50,641 33. I.B.M. Non Contributory Pension Fund Plan 50,238,295 1,962,871 1,324,570 53,525,736 1,045,213 1,045,213 34. Insurance Brokers (West Indies) Limited Pension Fund Plan 7,748,929 5,040 429,143 (29,689) 8,153,423 27,579 184,515 212,094 35. Lever Brothers West Indies Limited Pension Fund Plan 36. Mandev-Qualassure Pension Fund Plan 37. Mega Insurance Company Limited Pension Plan 28,342,827 222,852 222,852 1,662,654 447,179 30,898,364 633,255 87,897 721,152 38. Mittal Steel Point Lisas Limited Employees’ Pension Fund Plan 644,911,005 4,787,225 4,787,225 803 33,851,008 15,502,191 703,839,457 6,643,717 5,479,308 12,123,025 205,499 39. National Gas Company Pension Fund Plan 40. National Insurance Board Pension Fund Plan 587,898,895 2,009,846 2,010,991 35,544,218 627,463,950 8,924,992 2,763,023 11,688,015 41. National Insurance Property Development Company Limited Pension Fund Plan 42,531,457 1,398,311 229,612 2,356,261 56,869 46,572,510 250,954 680,729 931,683 42. National Union of Government and Federated Workers Elected Officers Pension Fund Plan 2,995,158 116,680 35,902 166,901 47,012 3,361,653 193,855 193,855 43. National Union of Government and Federated Workers Staff Pension Fund Plan 22,771,608 405,876 202,938 1,353,047 6,654 24,740,123 674,932 96,843 771,775 44. Neal and Massy Group Pension Plan 1,008,353,257 52,636 955 47,131,486 24,346,442 1,079,884,776 23,470,414 6,160,532 29,630,946 282,861 45. Nestle Trinidad and Tobago Limited Pension Fund Plan 76,086,087 3,896,080 1,594,159 4,066,782 1,744,408 87,387,516 2,121,569 163,304 2,284,873 46. Nestle Trinidad and Tobago Limited Unionised Employees’ Pension Plan 26,409,674 1,423,209 1,283,367 1,416,857 368,205 30,901,312 312,153 474,987 787,140 47. Niherst Pension Fund Plan 48. PCS Nitrogen Trinidad Limited Pension Fund Plan No I 360,527,709 1,412,533 1,412,533 112,684 19,175,428 5,538,079 388,178,966 3,030,355 1,533,478 4,563,833 486 49. PCS Nitrogen Trinidad Limited Pension Fund Plan No II 21,802,343 404,033 404,033 1,122,311 351,906 24,084,626 111,757 111,757 50. Phoenix Park Gas Processors Limited Staff Pension Plan 28,593,755 1,351,845 1,351,845 4,681 1,576,958 648,626 33,527,710 Carried Forward 5,205,747,368 72,235,295 52,185,864 2,892,178 291,619,774 150,004,187 5,774,684,666 79,718,802 29,027,089 108,745,891 739,850 RETURN OF CONTRIBUTION ON WITHDRAWAL $ 2,879,228 85,917 94,155 395,650 149,510 675 226,407 37,184 34,021 78,137 75,950 36,002 10,355 385,907 361,507 121,282 90,668 70,818 5,133,373 OTHER EXPENDITURE $ 18,382,573 1,036,441 233,966 2,738,326 1,012,192 116,711 1,408,164 (28,441) 14,744 238,381 2,322,666 1,682,353 351,376 95,417 292,469 6,741,760 725,742 887,667 2,607,296 302,992 326,167 41,488,962 TOTAL EXPENDITURE FUND AT END OF PERIOD $ $ 54,579,610 1,688,344,076 2,964,370 32,561,421 339,677 12,915,381 8,903,257 682,523,993 2,999,566 61,480,217 117,386 13,652,793 2,787,583 67,995,214 1,016,772 52,508,964 264,022 7,889,401 993,554 29,904,810 14,729,327 689,110,130 13,446,318 614,017,632 1,319,061 45,253,449 289,272 3,072,381 1,074,599 23,665,524 37,041,474 1,042,843,302 3,372,122 84,015,394 1,796,089 29,105,223 7,262,283 380,916,683 485,567 23,599,059 326,167 33,201,543 156,108,076 5,618,576,590 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - REPORT ON INSURANCE AND PENSIONS 205
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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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APPENDIX C LIST OF BROKERS REGISTER
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APPENDIX D LIST OF REGISTERED ADJUS
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Appendix e LIST OF PENSION PLANS RE
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Appendix e LIST OF PENSION PLANS RE
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Appendix e INSURED PENSION FUND PLA
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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
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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 208 and 209: TABLES TABLE XXXV continued SELF-AD
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