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 ...
INSURANCE COMPANIES Underwriting Results 4.12 In 2007, the underwriting results of motor vehicle insurance business showed an overall underwriting profit of $27,951,121 as compared to an overall underwriting profit of $45,648,574 in 2006. Details are in Table XIV Reinsurance 4.13 An examination of “Premium Analysis” statements revealed the following net retention ratios (i.e. Net Premiums retained as a percentage of Gross Premiums written by companies). YEAR PER CENT 2007 2006 2005 2004 2003 95 92 89 85 85 40 REPORT ON INSURANCE AND PENSIONS
GENERAL INSURANCE BUSINESS REINSURANCE - MOTOR INSURANCE BUSINESS - 2007 Companies LOCAL GROSS PREMIUMS NET PREMIUMS NET RETENTION RATIO $ $ % American Life and General Insurance Company (Trinidad and Tobago) Limited 22,472,842 22,026,673 98.01 Bankers Insurance Company of T&T Limited 20,565,764 17,870,081 86.89 Capital Insurance Limited 76,367,215 73,585,790 96.36 Citizen Insurance Company Limited IN COMPULSORY LIQUIDATION Colonial Fire & General Insurance Co. Limited 121,268,592 117,303,828 96.73 Furness Anchorage General Insurance Limited 4,055,472 3,673,272 90.58 G.T.M. Fire Insurance Company Limited 23,054,925 21,206,847 91.98 Guardian General Insurance Limited 164,332,736 149,626,712 91.05 Gulf Insurance Limited Maritime General Insurance Company Limited 15,292,481 98,986,436 13,318,920 97,459,915 87.09 98.46 Motor One Insurance Company Limited 31,735,555 30,988,062 97.64 The Beacon Insurance Company Limited 23,152,829 21,278,955 91.91 Sagicor General Insurance Company Limited 49,142,697 47,855,989 97.38 The Great Northern Insurance Company Limited ACCOUNTS NOT SUBMITTED The New India Assurance Company (T&T) Limited 30,710,610 29,049,571 94.59 REPORT ON INSURANCE AND PENSIONS 41
- Page 1: ISSN 1995-7173
- Page 4 and 5: TABLE OF CONTENTS Paragraph Referen
- Page 6 and 7: TABLE OF CONTENTS LIST OF TABLES TA
- Page 8 and 9: OVERVIEW OF THE INSURANCE INDUSTRY
- Page 10 and 11: OVERVIEW OF THE INSURANCE INDUSTRY
- Page 12 and 13: OVERVIEW OF THE INSURANCE INDUSTRY
- Page 14 and 15: PART I - INSURANCE COMPANIES 3. LON
- Page 16 and 17: INSURANCE COMPANIES New Business Wr
- Page 18 and 19: INSURANCE COMPANIES FIGURE 5 Long-T
- Page 20 and 21: INSURANCE COMPANIES 3.06 Policies d
- Page 22 and 23: INSURANCE COMPANIES 3.10 Assets pla
- Page 24 and 25: INSURANCE COMPANIES Local Assets Ra
- Page 26 and 27: INSURANCE COMPANIES 3.17 Net Premiu
- Page 28 and 29: INSURANCE COMPANIES FIGURE 7 Long-T
- Page 30 and 31: INSURANCE COMPANIES REINSURANCE 3.1
- Page 32 and 33: GENERAL INSURANCE BUSINESS 4. GENER
- Page 34 and 35: INSURANCE COMPANIES Statutory Depos
- Page 36 and 37: INSURANCE COMPANIES DEPOSITS RETAIN
- Page 38 and 39: INSURANCE COMPANIES GENERAL INSURAN
- Page 40 and 41: INSURANCE COMPANIES SCHEDULE SHOWIN
- Page 44 and 45: INSURANCE COMPANIES REINSURANCE - M
- Page 46 and 47: INSURANCE COMPANIES SCHEDULE SHOWIN
- Page 48 and 49: INSURANCE COMPANIES FIGURE 10 OTHER
- Page 50 and 51: INSURANCE COMPANIES REINSURANCE - P
- Page 52 and 53: INSURANCE COMPANIES REINSURANCE - O
- Page 54 and 55: INSURANCE COMPANIES MARGIN OF SOLVE
- Page 56 and 57: INSURANCE COMPANIES 5. ASSOCIATION
- Page 58 and 59: INSURANCE INTERMEDIARIES Examinatio
- Page 60 and 61: PENSION FUND PLANS 7.09 The followi
- Page 62 and 63: PENSION FUND PLANS Balance Sheets 7
- Page 64 and 65: PENSION FUND PLANS FIGURE 12 PENSIO
- Page 66 and 67: ACTUARIAL INVESTIGATIONS SUMMARIES
- Page 68 and 69: ACTUARIAL INVESTIGATIONS SUMMARIES
- Page 70 and 71: ACTUARIAL INVESTIGATIONS SUMMARIES
- Page 72 and 73: ACTUARIAL INVESTIGATIONS SUMMARIES
- Page 74 and 75: ACTUARIAL INVESTIGATIONS SUMMARIES
- Page 76 and 77: ACTUARIAL INVESTIGATIONS SUMMARIES
- Page 78 and 79: ACTUARIAL INVESTIGATIONS SUMMARIES
- Page 80 and 81: ACTUARIAL INVESTIGATIONS SUMMARIES
- Page 82 and 83: APPENDIX A Directors: Secretary: Au
- Page 84 and 85: APPENDIX A Directors: Secretary: Au
- Page 86 and 87: APPENDIX A CARIBBEAN INSURANCE COMP
- Page 88 and 89: APPENDIX A COLONIAL FIRE AND GENERA
- Page 90 and 91: APPENDIX A CUNA CARIBBEAN INSURANCE
INSURANCE COMPANIES<br />
Underwriting Results<br />
4.12 In <strong>2007</strong>, the underwriting results <strong>of</strong> motor vehicle insurance business showed an overall<br />
underwriting pr<strong>of</strong>it <strong>of</strong> $27,951,121 as compared to an overall underwriting pr<strong>of</strong>it <strong>of</strong><br />
$45,648,574 in 2006.<br />
Details are in Table XIV<br />
Reinsurance<br />
4.13 An examinati<strong>on</strong> <strong>of</strong> “Premium Analysis” statements revealed the following net retenti<strong>on</strong><br />
ratios (i.e. Net Premiums retained as a percentage <strong>of</strong> Gross Premiums written by<br />
companies).<br />
YEAR<br />
PER CENT<br />
<strong>2007</strong><br />
2006<br />
2005<br />
2004<br />
2003<br />
95<br />
92<br />
89<br />
85<br />
85<br />
40<br />
REPORT ON INSURANCE AND PENSIONS
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