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 ...
PENSION FUND PLANS Balance Sheets 7.11 The Insurance Act, Chap. 84:01 requires that Balance Sheets should be furnished only in respect of self-administered pension fund plans. In respect of insured pension fund plans the relevant information is incorporated in the Balance Sheet which the insurance company is required to submit with its annual financial returns. 7.12 The following assets distribution statement in respect of self-administered plans has been compiled from the Balance Sheets of the accounts of self-administered plans received for the year 2007. ASSETS OF SELF-ADMINISTERED PLANS Trinidad and Tobago Government Securities denoted in TT $ Mortgages Real Estate Trinidad and Tobago Equities Fixed/Call Deposits Other Trinidad and Tobago Assets Trinidad and Tobago Government Securities denoted in Foreign Currency 2007 $ 2,222,517,340 241,899,077 0 7,060,617,992 1,816,931,754 8,022,595,879 102,786,486 2006 $ 1,578,656,446 253,650,234 24,253,400 7,298,633,435 1,342,439,246 7,204,791,646 120,527,359 TOTAL LOCAL ASSETS 19,467,348,528 17,822,951,766 Caricom/Foreign Government Securities Other Caricom/Foreign Securities TOTAL ASSETS IN FUND 1,758,156,290 1,753,596,676 22,979,101,494 275,661,899 1,800,155,881 19,898,769,546 LOCAL ASSETS RATIO 84.7% 89.57% (see Figure 12) 7.13 During the year 2007, the Actuarial Valuations of forty-one (41) registered pension fund plans were submitted. 7.14 The reports were reviewed with particular reference to the comments and/or recommendations of the Actuaries with respect to the solvency position of each Plan. 60 REPORT ON INSURANCE AND PENSIONS
PENSION FUND PLANS FIGURE 11 PENSION PLAN CONTRIBUTIONS MILLIONS 300 250 200 150 100 50 0 2003 2004 2005 2006 2007 EMPLOYERS EMPLOYEES EMPLOYEES EMPLOYERS REPORT ON INSURANCE AND PENSIONS 61
- 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 42 and 43: INSURANCE COMPANIES Underwriting Re
- 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 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
- Page 92 and 93: APPENDIX A FURNESS ANCHORAGE GENERA
- Page 94 and 95: APPENDIX A GUARDIAN GENERAL INSURAN
- Page 96 and 97: APPENDIX A GULF INSURANCE LIMITED I
- Page 98 and 99: APPENDIX A MARITIME LIFE (CARIBBEAN
- Page 100 and 101: APPENDIX A MOTOR ONE INSURANCE COMP
- Page 102 and 103: APPENDIX A THE REINSURANCE COMPANY
- Page 104 and 105: APPENDIX A SAGICOR GENERAL INSURANC
- Page 106 and 107: APPENDIX A SCOTIALIFE INSURANCE LIM
- Page 108 and 109: APPENDIX A TATIL LIFE ASSURANCE LIM
- Page 110 and 111: APPENDIX A THE GREAT NORTHERN INSUR
PENSION FUND PLANS<br />
FIGURE 11<br />
PENSION PLAN CONTRIBUTIONS<br />
MILLIONS<br />
300<br />
250<br />
200<br />
150<br />
100<br />
50<br />
0<br />
2003 2004<br />
2005<br />
2006<br />
<strong>2007</strong><br />
EMPLOYERS<br />
EMPLOYEES<br />
EMPLOYEES<br />
EMPLOYERS<br />
REPORT ON INSURANCE AND PENSIONS 61
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