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

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PENSION FUND PLANS FIGURE 12 PENSION FUND PLANS ASSETS OF SELF ADMINISTERED PLANS Mortgages 1% Foreign Assets 10% Fixed Deposits 7% Mortgages 1% Foreign Assets 9% Fixed Deposits 4% Gov’t Sec 7% Gov’t Sec 8% Other 74% Other 79% 2007 2006 $ $ MORTGAGES 241,899,077 253,650,234 FOREIGN ASSETS 3,511,752,966 2,075,817,780 FIXED DEPOSITS 1,816,931,754 1,342,439,246 T&T GOV’T SEC. 2,325,303,826 1,578,656,446 OTHER * 15,083,213,871 14,648,205,840 22,979,101,494 19,898,769,546 * Other includes Real Estate, T&T Equities & Other T&T Assets 62 REPORT ON INSURANCE AND PENSIONS
ACTUARIAL INVESTIGATIONS SUMMARIES OF THE RESULTS AND RECOMMENDATIONS OF THE ACTUARIAL INVESTIGATIONS ARE REPORTED HEREUNDER: NAME OF PLAN ACTUARY VALUATION DATE RESULTS AND RECOMMENDATIONS Caribbean Packaging Industries Limited Staff Pension Plan Bacon Woodrow & De Souza Limited September 30, 2005 The valuation revealed a past service surplus of $1.596 million with a funding level of 120%. It was recommended that:- (a) The Company use the surplus to improve the wind up benefits paid to members. The plan was terminated on 30 September 2005. Port Contractors Limited Pension Fund Plan Apex Consulting Limited December 31, 2003 The valuation revealed a past service surplus of $15.029 million with a funding level of 140.9%. It was recommended that:- (a) The Company continue to contribute to the Plan at the minimum rate i.e. 12.5% of pensionable earnings until the next valuation. The next actuarial valuation must be carried out no later than December 31, 2006. Textel Pension Plan Bacon Woodrow & De Souza Limited March 31, 2006 The valuation revealed a past service surplus of $231 million with a funding level of 199% . It was recommended that:- (a) The Company ceases contributions to the Plan for the time being. The next actuarial valuation must be carried out no later than March 31, 2009. Rediffusion (Trinidad) Limited Pension Plan Bacon Woodrow & De Souza Limited February 1, 2007 The valuation revealed a past service surplus of $13.2221 million with a funding level of 1178%. The plan was wound up with an effective date of February 1, 2007. REPORT ON INSURANCE AND PENSIONS 63
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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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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 62 and 63: PENSION FUND PLANS Balance Sheets 7
Page 66 and 67: 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
Page 112 and 113: 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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Appendix e ANNUITIES 1. A.S. Bryden
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Appendix e list of registered pensi
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TABLES TABLE I REVENUE ACCOUNT IN R
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- 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11
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1. 2. 3. 4. 1. 2. 3. 4. TABLES TABL
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1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 1. 1
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1. 2. 3. 4. 5. TABLES TABLE VI REVE
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1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11.
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TABLES TABLE X COMPANIES LOCAL 1. A
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172TABLES TABLE XIA STATEMENT OF ST
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1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11.
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TABLES TABLE XV REVENUE ACCOUNT IN
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TABLES TABLE XVI REVENUE ACCOUNT IN
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TABLES TABLE XVIII REVENUE ACCOUNT
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1. 2. 3. 4. 1. 2. 1. 2. 3. 4. 1. 2.
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TABLES TABLE XXI UNDERWRITING RESUL
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TABLES TABLE XXIII SUMMARY AND VALU
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TABLES TABLE XXV SUMMARY AND VALUAT
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TABLES TABLE XXVII SUMMARY AND VALU
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TABLES TABLE XXIX SUMMARY AND VALUA
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TABLES TABLE XXXI SUMMARY AND VALUA
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TABLES TABLE XXXIII DEPOSIT ADMINIS
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TABLES TABLE XXXIII continued DEPOS
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1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11.
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51. 52. 53. 54. 55. 56. 57. 58. 59.
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TABLES TABLE XXXV NAME OF PLAN Fund
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TABLES TABLE XXXV continued SELF-AD
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Report on Insurance and Pensions 2007 - Central Bank of Trinidad ...

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