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 ...
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SUMMARY OF BALANCE SHEETS OF INCORPORATED COMPANIES<br />
MEGA INSURANCE COMPANY LIMITED<br />
INCORPORATED - 1980<br />
Directors: W. WINCHESTER; B. DOYLE; E. CHEONG; I. BEHARRY; K. CHOLMONDELEY; C. GILL;<br />
L. GILLETTE; K. ISAACS; H. RUSSELL; A. TOMYEW; P. VILAIN<br />
Secretary: P. ALEONG<br />
Auditors: KPMG<br />
Actuary: PRESCIENCE INSURANCE CONSULTING AND ACTUARIES INC.<br />
Countries other than <strong>Trinidad</strong> <strong>and</strong> Tobago in which the Company writes business: NIL.<br />
Summary <strong>of</strong> Balance Sheet in respect <strong>of</strong> <strong>Trinidad</strong> <strong>and</strong> Tobago<br />
Business as at 31st December, <strong>2007</strong><br />
assets $ $<br />
Investments:<br />
Fixed Deposits with <strong>Bank</strong><br />
<strong>Trinidad</strong> <strong>and</strong> Tobago Government Securities<br />
Ordinary shares in T&T Companies<br />
B<strong>on</strong>ds <strong>and</strong> Debentures in T&T Companies<br />
Investment in dependent companies (insurance)<br />
Other Investments<br />
Cash <strong>on</strong> Current Account <strong>and</strong> in h<strong>and</strong><br />
Mortgage Loans<br />
Policy Loans<br />
Policy Loan Interest Accrued<br />
Outst<strong>and</strong>ing Premiums:<br />
Amounts due from Brokers<br />
Amounts due from other <strong>Insurance</strong> Companies<br />
Interest, dividends <strong>and</strong> rents outst<strong>and</strong>ing<br />
Sundry Debtors<br />
Fixed Assets<br />
Other Assets<br />
13,593,210<br />
10,761,611<br />
19,199,301<br />
23,337,309<br />
4,468,546<br />
24,442,107<br />
95,802,084<br />
2,870,641<br />
1,711,569<br />
6,172,522<br />
370,351<br />
43,548<br />
3,512,247<br />
843,168<br />
620,174<br />
56,069,338<br />
10,726,200<br />
TOTAL ASSETS<br />
178,741,842<br />
liabilities $ $<br />
<strong>Insurance</strong> Funds:<br />
L<strong>on</strong>g-Term<br />
Claims admitted or intimated but not paid<br />
Premiums paid in advance<br />
Outst<strong>and</strong>ing Commissi<strong>on</strong>s<br />
Amount due to Reinsurers<br />
Deposits re policies<br />
Other Liabilities<br />
143,503,307<br />
143,503,307<br />
4,083,356<br />
162,776<br />
145,919<br />
2,376,095<br />
467,148<br />
5,071,415<br />
NET LIABILITIES<br />
Paid-up Share Capital<br />
N<strong>on</strong>-Admissable Assets Adjustment<br />
Retained Account<br />
Other<br />
TOTAL LIABILITIES<br />
155,810,016<br />
36,465,357<br />
(14,830,311)<br />
(36,838,270)<br />
38,135,050<br />
178,741,842<br />
REPORT ON INSURANCE AND PENSIONS 97
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