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

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APPENDIX A GULF INSURANCE LIMITED INCORPORATED - 1974 Directors: G. LEE-INNISS; E. COLLIER; C. JONES; M. POON TIP; M. SINGH; J. DALGLEISH; P. BUXO Secretary: LEON WILLIAMS Auditors: KPMG CHARTERED ACCOUNTANTS Countries other than Trinidad and Tobago in which the Company writes business: Anguilla, British Virgin Islands, Dominica, Grenada, St. Kitts & Nevis, St. Lucia, St Maarten, US Virgin Islands, Turks & Caicos, Cayman Islands, St. Vincent. Summary of Balance Sheet in respect of Trinidad and Tobago Business as at 31st March, 2007 assets $ $ Investments: Fixed Deposits with Bank Fixed Deposits with Other Financial Institutions Trinidad and Tobago Government Securities Securities guaranteed by the Gov’t of T&T Ordinary shares in T&T Companies Bonds and Debentures in T&T Companies 1,795,502 18,960,362 5,100,000 815,000 4,802,334 12,317,488 43,790,686 Cash on Current Account and in hand Outstanding Premiums: Amounts due from Agents and sub-agents Amounts due from Brokers Amounts due from Policyholders Sundry Debtors Fixed Assets Other Assets TOTAL ASSETS (3,482,815) 1,383,401 3,724,870 1,966,141 15,854,171 20,862,027 162,347 84,260,828 liabilities $ $ Insurance Funds: Unearned Premiums Reserve Unexpired Risk reserve Claims admitted or intimated but not paid Amount due to Reinsurers Other Liabilities 8,573,724 7,794,294 779,430 10,579,836 299,736 27,127,180 NET LIABILITIES Paid-up Share Capital Non-Admissable Assets Adjustment Retained Account Other TOTAL LIABILITIES 46,580,476 13,500,000 (15,758,557) 13,425,040 26,513,869 84,260,828 94 REPORT ON INSURANCE AND PENSIONS
SUMMARY OF BALANCE SHEETS OF INCORPORATED COMPANIES Directors: Secretary: Auditors: MARITIME GENERAL INSURANCE COMPANY LIMITED INCORPORATED - 1978 J.H. SMITH; J. SOHUN; O. CAMPS THE MARITIME FINANCIAL GROUP LIMITED PANNELL KERR FORSTER Countries other than Trinidad and Tobago in which the Company writes business: NIL. Summary of Balance Sheet in respect of Trinidad and Tobago Business as at 31st December, 2007 assets $ $ Investments: Fixed Deposits with Bank Fixed Deposits with Other Financial Institutions Securities guaranteed by the Gov’t of T&T Ordinary shares in T&T Companies Bonds and Debentures in T&T Companies Cash on Current Account and in hand Outstanding Premiums Sundry Debtors Fixed Assets Other Assets TOTAL ASSETS 59,027,630 66,000,000 47,084,621 3,509,732 37,979,711 213,601,694 5,012,777 19,434,470 1,083,625 2,107,009 241,239,575 liabilities $ $ Insurance Funds: Unearned Premiums Reserve Unexpired Risk reserve Claims admitted or intimated but not paid Outstanding Commissions Amount due to Reinsurers Bank Loans and Overdrafts Other Liabilities 47,364,244 44,059,764 3,304,480 64,561,362 2,204,643 10,935,358 1,603,136 22,223,623 NET LIABILITIES Paid-up Share Capital Retained Account Other TOTAL LIABILITIES 148,892,366 4,965,000 56,305,310 31,076,899 241,239,575 REPORT ON INSURANCE AND PENSIONS 95
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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
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 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 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
Page 114 and 115: APPENDIX A UNITED INSURANCE COMPANY
Page 116 and 117: APPENDIX B LIST OF REGISTERED AGENT
Page 118 and 119: List of Registered Agents List of A
Page 142 and 143: APPENDIX C LIST OF BROKERS REGISTER
Page 144 and 145: 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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