2006 - Central Bank of Trinidad and Tobago

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2006 - Central Bank of Trinidad and Tobago

TABLE OF CONTENTSParagraph ReferenceFIGURESExisting BusinessChange in Premium IncomeUnderwriting ResultsReinsuranceGeneral Insurance - Solvency Test9. Motor Insurance Business - Net Premium Income10. Other Insurance Business - Net Premium Income5. ASSOCIATION OF UNDERWRITERS 5.01 - 5.03RegistrationIntermediariesVolume of BusinessPART IIINSURANCE INTERMEDIARIES6. INSURANCE INTERMEDIARIESRegistration 6.01 - 6.04ExaminationsRevenuePART IIIPENSION FUND PLANS7. PENSION FUND PLANSRegistration 7.01 - 7.14AmendmentsRevenueAnnual AccountsBalance SheetsResults and Recommendations of Actuarial ValuationsFIGURES. Pension Fund Plans - Contributions2. Pension Fund Plans - Assets of Self Administered PlansREPORT ON INSURANCE AND PENSIONS


TABLE OF CONTENTSTABLE XVITABLE XVIITABLE XVIIITABLE XIXTABLE XIXATABLE XXTABLE XXITABLE XXIITABLE XXIIITABLE XXIVTABLE XXVTABLE XXVITABLE XXVIILIST OF TABLESRevenue Account in respect of Property Insurance.Revenue Account in respect of Miscellaneous General Insurance.Revenue Account in respect of Liability Insurance.Revenue Account in respect of Personal Accident Insurance.Revenue Account in respect of Group Health Insurance.Revenue Account in respect of Marine, Aviation and Transport.Underwriting results in respect of Property Insurance.Summary and Valuation of the Policies of American Life and General InsuranceCompany (Trinidad and Tobago) Limited in respect of Long- Term Insurance Businessas at December 31, 2006.Summary and Valuation of the Policies of Beacon Insurance Company Limited as atJune 30, 2006.Summary and Valuation of the Policies of Colonial Life Insurance Company Limitedas at December 31, 2006.Summary and Valuation of the Policies of CUNA Caribbean Insurance SocietyLimited as at December 31, 2006.Summary and Valuation of the Policies of Guardian Life of the Caribbean as atDecember 31, 2006.Summary and Valuation of the Policies of Nationwide Insurance Company Limitedas at December 31, 2006.TABLE XXVIII Summary and Valuation of the Policies of Sagicor Life Incorporated as atDecember 31, 2006.TABLE XXIXSummary and Valuation of the Policies of as at Scotia Life of Trinidad and TobagoLimited October 31, 2006.TABLE XXX Annuity Pension Fund Plans - Revenue Account 2006.TABLE XXXI Deposit Administration Pension Fund Plans – Revenue Account 2006.TABLE XXXII Self Administered - Balance Sheet 2006.TABLE XXXIII Self Administered Pension Fund Plans - Revenue Accounts 2006.REPORT ON INSURANCE AND PENSIONS


REPORT ON INSURANCE AND PENSIONSFOR THE YEAR ENDED 31ST DECEMBER, 2006Honourable Minister of FinanceMinistry of FinanceEric Williams Finance BuildingEric Williams PlazaIndependence SquarePORT OF SPAINDear Madam1.01 I have the honour to submit to you for presentation to Parliament the Thirty-ninthAnnual Report on the administration of the Insurance Act being presented by theCentral Bank of Trinidad and Tobago.1.02 This Report is submitted under the Insurance Act, Chap 84:01 and is for the periodended 31st December, 2006.1.03 The Act requires that Returns on the financial performance of companies besubmitted within six (6) months of the financial year of each company.1.04 This report is prepared in three partsPart IPART IIPART IIIINSURANCE COMPANIESA - LONG-TERM INSURANCEB - GENERAL INSURANCEINSURANCE INTERMEDIARIESPENSION FUND PLANS1.05 A summary of the Balance Sheets of insurance companies is also provided atAppendix A.Respectfully submittedEwart WilliamsGovernorCENTRAL BANK OF TRINIDAD AND TOBAGOREPORT ON INSURANCE AND PENSIONS


OVERVIEW OF THE INSURANCE INDUSTRY2. OVERVIEW OF THE INSURANCE INDUSTRY2.01 In 2006, Gross Premium Income in the industry totaled $6,584.9 million which represents5.8% of the Gross Domestic Product at current prices (2005 – 6.1%). This is an increase of13.2% over the gross premiums of $5,818.7 million reported for 2005.2.02 Gross Premiums Income for the year increased in respect of all classes of business.Details are as follows:Gross Premium Income2006$M2005$M%Inc/(Dec)Long Term (Life)4,467.64,097.29.0Motor Vehicle694.9588.118.2Property (Fire and Allied Perils)686.4520.231.9Other735.9613.220.06,584.95,818.713.2(See Figure 1)Long-term Business2.03 Policies in force at the end of 2006 were reported as 538,950, an increase of 6.6%over the 2005 reported figure of 505,750.(See Figure 2)The total number of new policies sold during 2006 was 59,754, a decrease of 5.4% overthe previous year.(See Figure 3)Policy lapses increased by 37.0% in 2006 compared to a 40.5% decrease during 2005.Surrenders decreased by 38.5% in 2006 compared to a 5.0% decrease during 2005.Statutory Funds in which investments are pledged to support policyholder liabilitiestotaled $17.2 billion (2005 – $17.2 billion).(See Figure 4)REPORT ON INSURANCE AND PENSIONS


OVERVIEW OF THE INSURANCE INDUSTRYGeneral Insurance Business2.04 Gross Premiums increased in respect of Motor Business, Property and the group of classesclassified as ‘Other than Motor, Property and Long-term Business’. Net Premiums increasedin respect of Motor Business, and the group of classes classified as ‘Other than Motor,Property and Long-term Business’ and decreased in respect of Property Business.Insurance Intermediaries2.05 The number of intermediaries registered at the end of 2006 was 2,400 (2005 - 2,140).The information is summarized as follows: -20062005%Inc/(Dec)Salesmen1,8241,61712.8Agents46641412.6Brokers87852.4Adjusters2324(4.2)2,4002,14012.1Pension Fund Plans2.06 The number of pension fund plans registered at the end of 2006 was 256 (2005 - 256).The information is summarized as follows: -20062005%Inc/(Dec)Self AdministeredPension Fund Plans929111Insured Pension Fund Plans105109(3.7)Pension Fund PlansTo be Wound-up58555.5Judicial Management11-256256-REPORT ON INSURANCE AND PENSIONS


OVERVIEW OF THE INSURANCE INDUSTRYFIGURE 1GROSS PREMIUM DISTRIBUTIONOTHER 11%OTHER 11%PROPERTY 9%PROPERTY 10%MOTOR 10%MOTOR 11%LONG TERM 70%LONG TERM 68%2006 2005$M $MLONG TERM 4,467.6 4,097.2MOTOR 694.9 588.1PROPERTY 686.5 520.2OTHER 735.9 613.26,584.9 5,818.7REPORT ON INSURANCE AND PENSIONS


OVERVIEW OF THE INSURANCE INDUSTRYFIGURE 2POLICIES IN FORCELong-Term Insurance BusinessYear No. of policies (thousands)2002 3842003 4602004 4782005 5062006 539REPORT ON INSURANCE AND PENSIONS


OVERVIEW OF THE INSURANCE INDUSTRYFIGURE 3NEW POLICIES WRITTENLong-Term Insurance BusinessYEAR2002No. of policies (thousands)472003 622004 642005 632006 6010REPORT ON INSURANCE AND PENSIONS


OVERVIEW OF THE INSURANCE INDUSTRYFIGURE 4TOTAL LONG-TERM STATUTORYFund Investment SecuritiesGOV SEC 10%GOV SEC 8%MORTGAGES 5%MORTGAGES 4%REAL ESTATE 5%REAL ESTATE 7%EQUITIES 38%EQUITIES 40%OTHER 43%OTHER 40%2006 2005$M $MT&T GOV’T SEC 1,335 1,643MORTGAGES 795 686REAL ESTATE 1,235 898T&T EQUITIES 6,967 6,582OTHER 6,845 7,40417,177 17,213REPORT ON INSURANCE AND PENSIONS 11


PART I - INSURANCE COMPANIES3. LONG-TERM INSURANCE BUSINESS3.01 There were twenty-four (24) companies registered to transact long-term business inTrinidad and Tobago at the end of 2006. Ten (10) companies are not writing newbusiness as at December 2006.3.02 The types of new business transacted by registered companies were as follows:CompaniesOrdinaryLifeIndustrialLifeGroupLifeGroupPensionPension andAnnuityLOCAL1. American Life and GeneralInsurance Company (Trinidadand Tobago) Limited*-***2. Bancassurance CaribbeanLimited #*-*-*3. British-American InsuranceCompany (Trinidad) Limited**--*4. Caribbean Atlantic LifeInsurance Company (Trinidadand Tobago) Limited +NOTWRITINGNEWBUSINESS5. Caribbean Insurance CompanyLimitedNOTWRITINGNEWBUSINESS6. Colonial Life InsuranceCompany (Trinidad) Limited*-***7. Cuna Caribbean InsuranceSociety Limited*-*-*8. Guardian General InsuranceLimited Φ-----9. Guardian Life of the CaribbeanLimited*-***10. Maritime Life (Caribbean)Limited*-***11. Mega Insurance CompanyLimited~*---*12REPORT ON INSURANCE AND PENSIONS


LONG-TERM INSURANCE BUSINESSCompaniesOrdinaryLifeIndustrialLifeGroupLifeGroupPensionPension andAnnuityLOCAL12. Nationwide InsuranceCompany Trinidad LimitedNOTWRITINGNEWBUSINESS13. Scotia Life Trinidad and TobagoLimited*---*14. Tatil Life Assurance CompanyLimited*-***15. The Beacon InsuranceCompany Limited-----16. The Demerara Life AssuranceCompany of Trinidad andTobago LimitedNOTWRITINGNEWBUSINESS17. The Reinsurance Company ofTrinidad & Tobago Limited-----18. The Western General InsuranceCompany LimitedNOTWRITINGNEWBUSINESS19. United Security Life InsuranceCompany LimitedNOTWRITINGNEWBUSINESSREGIONAL20. Life of Barbados LimitedNOTWRITINGNEWBUSINESS21. Sagicor Life Incorporated*-*-*OTHER22. Lincoln Assurance Limited◊NOTWRITINGNEWBUSINESS23. Cuna Mutual Insurance SocietyNOTWRITINGNEWBUSINESS24. Sun Life Assurance of CanadaNOTWRITINGNEWBUSINESS+ Operating as a closed fund under Guardian Life of the Caribbean Limited.◊ Formerly Cannon Assurance Limited□ Business transferred to Sagicor Life Inc.# Formerly Crown Life (Caribbean) Limited.~ Formerly GTM Life Insurance Company of Trinidad and Tobago LimitedΦ Formerly Caribbean Home Insurance Company Limited* Denotes business written- Denotes business not writtenREPORT ON INSURANCE AND PENSIONS 13


INSURANCE COMPANIESNew Business Written3.03 Eleven (11) companies which wrote new business (ten (10) in 2005) submitted therequired information under this caption.Details are as follows: -20062005Number of PoliciesSum AssuredAnnual Premiums66,658$9,421,167,730$431,997,16663,168$6,674,368,604$305,509,366New Business underwritten during the years 2002 to 2006 was distributed as follows:Percentage of New Insurance Issued (Sum Assured)2002 200320042005 2006Local Companies8992928687Regional11881413Other-----(See Figure 5)Existing Business3.04 Sixteen (16) Life Companies registered under the Act submitted Returns in respect ofinsurance existing.The information is summarized as follows:2006 2005Number of PoliciesSum Assured538,950$58,376,775,496505,750$51,562,322,31814REPORT ON INSURANCE AND PENSIONS


LONG-TERM INSURANCE BUSINESSPolicies Discontinued or Redeemed3.05 Sixteen (16) companies submitted information concerning the discontinuance andredemption of policies. The information for the years 2002 to 2006 is summarizedhereunder.YEAR20062005200420032002(See Figure 6)Number ofPolicies37,44139,97847,39543,35035,666Sum Assured$4,875,819,3074,530,038,1896,627,563,8414,602,636,7953,370,487,646REPORT ON INSURANCE AND PENSIONS 15


INSURANCE COMPANIESFIGURE 5Long-Term Insurance BusinessNEW BUSINESS WRITTEN100%80%60%40%20%0%200220032004YEAR20052006Other Regional Local Companies16REPORT ON INSURANCE AND PENSIONS


LONG-TERM INSURANCE BUSINESSFIGURE 6Long-Term Insurance BusinessPolicies discontinued/redeemedThousands504540353020022003YEAR200420052006YEAR2002No. of policies (thousands)362003 432004 472005 402006 37REPORT ON INSURANCE AND PENSIONS 17


INSURANCE COMPANIES3.06 Policies discontinued or redeemed during 2006 have been further classified as follows:DeathSurrenderForfeitureLapseMaturityMiscellaneousTOTALNumber ofPolicies1,4529,9088,39411,3203,2303,13737,441Sum Assured$59,651,906719,401,445856,088,4081,875,827,97839,420,2131,325,429,3574,875,819,307Details are listed in Table VIIIPolicy Loans3.07 Policy loans in respect of twelve (12) companies for the year 2006 totaled $310,228,837a decrease of 8.8% over the 2005 figure of $340,100,962. The ratio of policy loans tototal reserves decreased from 1.9% in 2005 to 1.7% in 2006.PolicyLoans$Reserves$Policy Loan/ Reserves%Local Companies287,731,86316,918,861,5301.7Regional Companies22,496,9741,840,183,4471.2OtherN/AN/A0.0TOTAL310,228,83718,759,044,9771.718REPORT ON INSURANCE AND PENSIONS


LONG-TERM INSURANCE BUSINESSStatutory Funds3.08 Section 37(4) of the Insurance Act, Chap. 84:01 requires that:“Every company carrying on long-term insurance business in Trinidad and Tobago shallplace in trust in Trinidad and Tobago assets equal to its liability and contingency reserveswith respect to its Trinidad and Tobago policyholders as established by the balance sheet ofthe Company as at the end of its last financial year.”3.09 The total policy liabilities of the sixteen (16) companies which submitted Returns amountedto $18,254,016,230 an increase of 14.6% over the liabilities of $15,928,218,216 reported bytwenty (20) companies for 2005. Details of the policy liabilities of individual companies areshown in Table XI.Hereunder is a summary of total policy liabilities:LocalCompanies$regionalCompanies$Other$TOTAL$Policy Reserves16,413,832,7831,840,183,447-18,254,016,230Outstanding Claims151,877,063--151,877,063Other Reserves353,151,684--353,151,684TOTAL RESERVES16,918,861,5301,840,183,447-18,759,044,977Less:Policy Loans287,731,86322,496,974-310,228,837Outstanding Premiums49,043,1072,649,245-51,692,352Other Deductions869,270,030--869,270,030TOTAL DEDUCTIONS1,206,045,00025,146,219-1,231,191,219Statutory FundRequirement15,712,816,5301,815,037,228-17,527,853,758REPORT ON INSURANCE AND PENSIONS 19


INSURANCE COMPANIES3.10 Assets placed in trust to cover liabilities to Trinidad and Tobago policyholders amounted to$17.2 billion this remained unchanged from the 2005 figure.3.11 The relationship between policy liabilities and the assets placed in trust to meet theseliabilities is shown in Table XIA in respect of each company which transacted long-termbusiness.3.12 Section 47(2) of the Insurance Act Chap. 84:01 states that“.... assets not exceeding ten per cent of the Trinidad and Tobago dollar liability in eachstatutory fund shall be deemed to be assets in Trinidad and Tobago where such assets -(a)(b)are approved by the Central Bank; andoriginate in any of the member states of the Caribbean Community”20REPORT ON INSURANCE AND PENSIONS


LONG-TERM INSURANCE BUSINESSInvestments trusted in pursuance of the Statutory Fund Requirement of the Act are detailedhereunder: -2006 2005$%%(i)Trinidad and Tobago GovernmentSecurities denoted in T&T $1,335,363,5547.89.5(ii)Mortgages794,751,7624.64.0(iii)Real Estate1,235,139,7317.25.2(iv)Trinidad and Tobago Equities6,966,925,68240.638.2(v)Cash on Deposit1,788,782,28710.48.9(vi)Other Trinidad and Tobago“Local” Assets14,019,384,58011.114.4TOTAL TRINIDAD AND TOBAGO“LOCAL” ASSETS14,019,384,58081.680.3(vii)Caricom Assets1,081,113,7946.35.0(viii)Other Caricom Assets denoted inForeign Currency3,832,3900.00.0TOTAL “LOCAL” ASSETS15,104,330,76587.985.4(ix)Foreign GovernmentSecurities171,268,2261.01.0(x)Other Foreign Assets1,901,521,00511.113.6TOTAL FOREIGN ASSETS2,072,789,23112.114.6TOTAL ASSETS17,177,119,995100.0100.0(See Figure 4)REPORT ON INSURANCE AND PENSIONS 21


INSURANCE COMPANIESLocal Assets Ratio3.13 Section 47(1) of the Insurance Act, Chap 84:01 requires every company to invest inTrinidad and Tobago an amount equal to at least eighty percent (80%) of its Trinidadand Tobago dollar liability in the Statutory Fund. Section 47(2) further provides thatas sets not exceeding ten percent (10%) of the Trinidad and Tobago dollar liability ineach Statutory Fund are deemed to be assets in Trinidad and Tobago if such assets:(a)(b)are approved by the Central Bank; andoriginate in any of the member states of the Caribbean Community.3.14 Total “Local” investment in Statutory Funds for the year 2006 was $15,104,330,765representing a local asset ratio of 87.9%; the amount reported for the previous year was$14,699,335,365 (local asset ratio of 85.4%).Details are as follows: -LocalCompanies$REGIONALCompanies$Other$TOTAL$(i)T&T Government Securities1,078,688,329256,675,225-1,335,363,554(ii) Mortgages394,679,935400,071,827-794,751,762(iii) Real Estate1,052,717,117182,422,614-1,235,139,731(iv) T&T Equities6,714,696,719252,228,963-6,966,925,682(v) Cash on Deposit1,613,553,158174,929,129-1,788,482,287(vi) Other Trinidad and Tobago“Local Assets”1,256,481,623642,239,942-1,898,721,565TOTAL TRINIDAD ANDTOBAGO “LOCAL” ASSETS12,110,816,8801,908,567,700-14,019,384,580(vii) Caricom Assets1,081,113,794--1,081,113,794(viii) Other CaricomAssets denoted inForeign Currency3,832,390--3,832,390TOTAL “LOCAL” ASSETS13,195,763,0651,908,567,700-15,104,330,76522REPORT ON INSURANCE AND PENSIONS


LONG-TERM INSURANCE BUSINESSRevenue Account3.15 Detailed Revenue Accounts in respect of eighteen (18) companies transacting long-termbusiness are shown in Tables I-VII. A summary of the Revenue Accounts for the years 2006and 2005 listed hereunder:Revenue 2006$2005$Fund at beginning of yearNet PremiumsCommissions ReceivedInterest, Dividends, etc.OtherTransfer from Reserves15,823,827,9584,366,656,7216,535,647615,072,469968,151,360-15,150,630,2443,993,004,740871,865911,391,297840,498,347-TOTAL REVENUE21,780,244,15520,896,396,494ExpenditurePolicy PaymentsCommissionsSalaries and other Management ExpensesOtherFund at end of yearTransfer to Profit and Loss3,194,823,155286,343,722617,219,956(3,440,481)17,638,142,02047,155,7833,989,716,515231,808,188595,475,646(34,303,275)15,923,179,052196,286,879TOTAL EXPENDITURE21,780,244,15520,902,163,004Distribution of Premium Income3.16 Business was distributed among locally incorporated, Caribbean and other companies as follows:Percentage of Long-Term Insurance Business(Net Premium Income)2002 2003 2004 2005 2006Local Companies93.00495.40195.64093.97294.250Regional Companies6.9634.5704.3596.0275.749Other0.0330.0290.0010.0010.001(See Figure 7)REPORT ON INSURANCE AND PENSIONS 23


INSURANCE COMPANIES3.17 Net Premium Income in respect of each company carrying on long-term business for theyears 2002 to 2006 was as follows:SCHEDULE SHOWING CHANGE IN NET PREMIUM INCOME - LONG-TERM BUSINESSCompanies2002(000)$2003(000)$2004(000)$2005(000)$2006(000)$LOCALAmerican Life and General InsuranceCompany (Trinidad and Tobago) Limited78,28089,35297,099104,398142,413Bancassurance Caribbean Limited7,1606,6215,8037,8016,858British American Insurance Company(Trinidad) LimitedNR82,626153,082169,721239,480Caribbean Atlantic Life InsuranceCompany (Trinidad and Tobago) Limited350297270254222Caribbean Insurance Company LimitedNILNILNILNILNILColonial Life Insurance Company(Trinidad) Limited1,630,6312,990,7693,362,8623,049,6523,291,271Cuna Caribbean Insurance SocietyLimited26,15834,59840,72649,09659,130Guardian General Insurance Limited5,6642,151--(7)Guardian Life of the Caribbean Limited297,107514,188519,266145,046151,604Maritime Life (Caribbean) Limited79,16381,93171,39171,79180,895Mega Insurance Company LimitedNR26,90328,37327,09926,519Nationwide Insurance Company TrinidadLimited4,5714,4202,4612,4152,888Scotia Life of T&T Limited--35,45256,23448,727Tatil Life Assurance Limited65,14967,26972,13566,75365,133The Beacon Insurance Company Limited52554949114The Demerara Life Assurance Company ofTrinidad and Tobago LimitedNRNRNR1,561NR24REPORT ON INSURANCE AND PENSIONS


LONG-TERM INSURANCE BUSINESSSCHEDULE SHOWING CHANGE IN NET PREMIUM INCOME -LONG-TERM BUSINESS (continued)Companies2002(000)$2003(000)$2004(000)$2005(000)$2006(000)$LOCALThe Goodwill General InsuranceCompany LimitedNRNRNRNRNRThe Reinsurance Company of Trinidadand Tobago Limited267238217198105The Western General Insurance CompanyLimitedNILNILNILNILNILUnited Security Life Insurance CompanyLimitedNR305249241207TOTAL2,194,5523,901,7234,389,4353,752,3094,115,561REGIONALLife of Barbados Limited25,13019,96817,000--Sagicor Life Inc.139,152158,185183,044240,657251,060TOTAL164,282178,153200,044240,657251,060OTHERLincoln Assurance Limited-----Cuna Mutual Insurance Society765941---Sun Life Assurance Company of Canada2429403936TOTAL789970403936GRAND TOTAL2,359,6234,080,8464,589,5193,993,0054,366,657(See Figure 8)NR – Returns Not ReceivedREPORT ON INSURANCE AND PENSIONS 25


INSURANCE COMPANIESFIGURE 7Long-Term Insurance Businesspremium INCOME DISTRIBUTION100.0%80.0%60.0%40.0%20.0%0.0%2002200320042005200626REPORT ON INSURANCE AND PENSIONS


LONG-TERM INSURANCE BUSINESSFIGURE 8Long-Term Insurance Businessnet premium INCOME4,6004,4004,2004,0003,8003,6003,4003,2003,0002,8002,6002,4002,2002,0001,8001,60020022003200420052006YEARNet Premium Income ($M)2002 2,3602003 4,0812004 4,5902005 3,9932006 4,367REPORT ON INSURANCE AND PENSIONS 27


INSURANCE COMPANIESReinsurance3.18 Ninety-eight percent (98%) of life insurance premiums written during 2006 by sixteen (16)local companies was retained in the local economy (2005 – 97%); eighty-nine percent (89%)was retained by Regional Companies.REINSURANCE - LONG TERM INSURANCE BUSINESS - 2006COMPANIESGROSSPREMIUMSNETPREMIUMSNET RETENTIONRATIOLOCALAmerican Life and General InsuranceCompany (Trinidad and Tobago) Limited$147,879,162$142,413,270%96.30Bancassurance Caribbean Limited8,012,8206,857,70385.58British American Insurance Company(Trinidad) Limited241,176,677239,479,57699.30Caribbean Atlantic Life InsuranceCompany Limited233,552221,70394.93Colonial Life Insurance Company(Trinidad) Limited3,301,954,9243,291,270,81099.68Cuna Caribbean Insurance Society Limited61,257,39059,130,13096.53Guardian Life of the Caribbean Limited179,568,798151,603,88184.43Maritime Life (Caribbean) Limited84,816,16480,895,35195.38Mega Insurance Company Limited29,176,16926,518,91990.89Nationwide Insurance Company Limited3,128,2032,888,01692.32Scotia Life of T&T Limited53,473,96748,727,33191.12Tatil Life Assurance Limited73,683,24965,133,46988.40The Beacon Insurance Company Limited247,466114,34846.21The Demerara Life Assurance Company ofTrinidad and Tobago LimitedNRNRNRThe Reinsurance Company of Trinidad &Tobago Limited105,392105,392100.00United Security Life Insurance CompanyLimited207,441207,441100.00TOTAL4,184,921,3744,115,567,34198.3428REPORT ON INSURANCE AND PENSIONS


LONG-TERM INSURANCE BUSINESSREINSURANCE - LONG TERM INSURANCE BUSINESS - 2006 (continued)COMPANIESGROSSPREMIUMSNETPREMIUMSNET RETENTIONRATIOREGIONAL$$%Sagicor Life Incorporated282,634,477251,059,69888.83TOTAL282,634,477251,059,69888.83OTHERSun Life Assurance Company of Canada36,39136,391100.00TOTAL36,39136,391100.00GRAND TOTAL4,467,592,2424,366,663,43097.74Valuation Reports3.19 Section 113 of the Insurance Act, Chap. 84:01, requires that each company transactinglong-term insurance business submit an Actuarial Valuation Report at intervals of three (3)years or such shorter periods as the Central Bank in its discretion notifies the company.Reports were received from the following companies:• American Life and General Insurance Company (Trinidad and Tobago) Limited• Beacon Insurance Company Limited• Colonial Life Insurance Company Limited• CUNA Caribbean Insurance Society Limited• Guardian Life of the Caribbean Limited• Nationwide Insurance• Sagicor Life Incorporated• ScotiaLife Trinidad and Tobago LimitedDetails are contained in Tables XXII to XXIXREPORT ON INSURANCE AND PENSIONS 29


GENERAL INSURANCE BUSINESS4.01 There were thirty-five (35) companies registered to transact general insurance business inTrinidad and Tobago at the end of 2006. Twenty-six (26) wrote new business during 2006.4.02 The types of new business transacted by registered companies were as follows:Companies Liability Motor Property PersonalAccidentLOCALOther 11. American Life and GeneralInsurance (Trinidad and Tobago)Limited*****2. Antilles Insurance LimitedINLIQUIDATION3. Bankers Insurance Company ofTrinidad and Tobago Limited***-*4. British American InsuranceCompany (Trinidad) Limited--**-5. Capital Insurance Limited-****6. Caribbean Insurance CompanyLimitedNOTWRITINGNEWBUSINESS7. Citizen Insurance Company LimitedUNDERINTERVENTION---8. Colonial Fire and General InsuranceCompany Limited*****9. Export-Import Bank of Trinidad andTobago Limited----*10. Furness Anchorage InsuranceLimited*****11. G.T.M. Insurance Company Limited*****12. Guardian General Insurance Limited*****13. Guardian Life of the CaribbeanLimited----*14. Gulf Insurance Limited-****15. Maritime General InsuranceCompany Limited*****16. Mega Insurance Company Limited---*-17. Motor and General InsuranceCompany Limited-*---30REPORT ON INSURANCE AND PENSIONS


GENERAL INSURANCE BUSINESSCompanies Liability Motor Property PersonalAccidentLOCALOther 118. Motor One Insurance CompanyLimited-*---19. Nationwide Insurance (Casualty andGeneral) Company LimitedUNDERJUDICIALMANAGEMENT20. N.E.M. (West Indies) InsuranceLimited*-***21. Royal Caribbean Insurance Limited-----22. The Beacon Insurance CompanyLimited*****23. The Equitable Insurance CompanyLimitedINLIQUIDA TION24. The Goodwill General InsuranceCompany LimitedUNDERJUDICIALMANAGEMENT--25. The Great Northern InsuranceCompany Limited***-*26. The Mountain General InsuranceCompany LimitedNOTWRITINGNEWBUSINESS27. The New India Assurance Company(Trinidad & Tobago) Limited*****28. The Presidential InsuranceCompany Limited-*---29. The Reinsurance Company ofTrinidad and Tobago Limited*****30. The Western General InsuranceCompany LimitedNOTWRITINGNEWBUSINESS31. Trinidad and Tobago InsuranceLimited*****32. United Security General InsuranceCompany LimitedINLIQUIDA TIONREGIONAL1. Sagicor Life Incorporated----*2. Sagicor General Insurance*****3. United Insurance Company Limited*-**** Denotes business written- Denotes business not written1Other includes Group Health, Marine, Pecuniary Loss, General Accident and Export Credit.REPORT ON INSURANCE AND PENSIONS 31


GENERAL INSURANCE BUSINESSDEPOSITS RETAINED IN RESPECT OF INSURANCE COMPANIESAS AT 31ST DECEMBER 2006CompaniesLOCALTrinidadand TobagoGovernmentSecuritiesin TT$OtherTrinidadand TobagoGovernmentSecuritiesOtherSecuritiesTOTAL$ $ $ $American Life and GeneralInsurance Company Trinidadand Tobago Limited5,600,92019,370,0755,802,39430,773,389Bankers Insurance Company ofTrinidad and Tobago Limited3,000,000-3,762,4976,762,497British American InsuranceCompany (Trinidad) Limited400,000-500,000900,000Capital Insurance Limited2,642,608-11,433,32514,075,933Caribbean Insurance CompanyLimited350,000--350,000Citizen Insurance CompanyLimited569,642-3,990,8134,560,456Colonial Fire & General InsuranceCompany Limited22,003,40946,400,008-68,403,417Cuna Caribbean InsuranceSociety Limited--196,260196,260Furness Anchorage GeneralInsurance Limited1,810,992-314,5882,125,580GTM Insurance CompanyLimited3,000,000600,0006,026,6309,626,630Guardian General InsuranceLimited69,498,083--69,498,083Guardian Life of the CaribbeanLimited88,854,631--88,854,631Gulf Insurance Limited4,300,000-1,237,9965,537,996Maritime General InsuranceCompany Limited18,869,373-11,003,49329,872,866Motor and General InsuranceCompany Limited1,039,5713,281,0855,9834,326,639REPORT ON INSURANCE AND PENSIONS 33


INSURANCE COMPANIESDEPOSITS RETAINED IN RESPECT OF INSURANCE COMPANIESAS AT 31ST DECEMBER 2006 (continued)CompaniesLOCALMotor One Insurance CompanyLimitedTrinidad Other Other TOTALand Tobago Trinidad SecuritiesGovernment and TobagoSecurities Governmentin T.T.$ Securities$ $ $ $573,9962,434,0005,211,1548,219,150N.E.M. (West Indies) InsuranceLimited622,600--622,600Royal Caribbean InsuranceLimited375,157--375,157Sagicor General InsuranceIncorporated346,74112,550,5978,319,83321,217,171The Beacon Insurance CompanyLimited-14,231,1103,927,98118,159,091The Great Northern InsuranceCompany Limited350,063750,0001,387,7582,487,821The New India AssuranceCompany (T&T) Limited5,028,580-1,636,8306,665,410The Presidential InsuranceCompany Limited437,008-5,828,2266,265,234The Reinsurance Company ofTrinidad & Tobago Limited1,346,100-3,262,9454,609,045Trinidad and Tobago InsuranceLimited-250,00051,745,24351,995,243TOTAL231,019,47499,866,875108,615,615456,480,298CARIBBEANSagicor Life Incorporated8,034,50028,610,456-36,644,956United Insurance CompanyLimited--3,378,2703,378,270TOTAL8,034,50028,610,4563,378,27040,023,22634REPORT ON INSURANCE AND PENSIONS


GENERAL INSURANCE BUSINESSDEPOSITS RETAINED IN RESPECT OF INSURANCE COMPANIESAS AT 31ST DECEMBER 2006 (continued)CompaniesOTHERTrinidadand TobagoGovernmentSecuritiesin T.T.$OtherTrinidadand TobagoGovernmentSecuritiesOtherSecuritiesTOTAL$ $ $ $Lloyds Underwriters40,708--40,708TOTAL40,708--40,708GRAND TOTAL239,094,682128,477,331111,993,885496,544,232REPORT ON INSURANCE AND PENSIONS 35


INSURANCE COMPANIESGENERAL INSURANCE MOTOR4.06 Eighteen (18) companies wrote business during 2006. The Caribbean Insurance Company,Royal Caribbean Insurance Limited, The Mountain General Insurance Company Limitedand The Western General Insurance Company Limited wrote no new business, whileNationwide Casualty General Insurance Company Limited is under Judicial Management,while Goodwill General Insurance Company and Citizens Insurance Company Limited areunder intervention.Statutory Funds4.07 Section 37(5) of the Insurance Act, Chap. 84:01 requires that every company carrying onMotor Vehicle Insurance business should establish a statutory fund by placing in trust inTrinidad and Tobago assets equal to its liability and reserves less the amount held on depositin accordance with Section 29 of the Act.4.08 The Revenue Account of companies transacting motor business showed a cumulativeliability of $655,327,153. After deductions, including the amounts placed on depositpursuant to Section 29 of the Act, the assets required to be placed in trust in the Fund totaled$342,492,874. The value of assets actually placed in the Fund amounted to $338,651,949.4.09 The relationship between the policy liabilities and statutory fund assets of each companytransacting motor insurance business is shown in Table XIII.Change in Premium Income4.10 Net premium income in 2006 as reported by eighteen (18) companies totaled $638,334,693(2005 - $523,735,437).4.11 Premium Income in respect of individual companies carrying on motor vehicle insurancebusiness for the years 2002 to 2006 was as follows:36REPORT ON INSURANCE AND PENSIONS


GENERAL INSURANCE BUSINESSSCHEDULE SHOWING CHANGE IN NET PREMIUM INCOMEMOTOR INSURANCE BUSINESSCompanies2002(000)$2003(000)$2004(000)$2005(000)$2006(000)$LOCALAmerican Life and General InsuranceCo (Trinidad and Tobago) Limited7,8148,6438,25813,05218,879Bankers Insurance Company ofTrinidad and Tobago Limited3,7556,45714,73214,18314,183Capital Insurance Limited35,96539,63045,24848,71955,316Citizen Insurance Co Limited17,12017,30217,03825,709NRColonial Fire and General InsuranceCompany Limited18,29722,06826,71469,09292,462Furness Anchorage General InsuranceLimited2,8052,6952,7452,2262,196G.T.M. Fire Insurance CompanyLimited5,6254,6696,6449,59614,717Guardian General Insurance Limited54,60740,71297,664103,408130,642Gulf Insurance Limited8,1478,3178,45710,14810,148Maritime General Insurance CompanyLimited33,95046,77648,29350,14369,018Motor and General InsuranceCompany Limited9,1629,44011,43713,20614,310Motor One Insurance CompanyLimited6,6336,59810,93113,67320,549Nationwide Insurance (Casualty andGeneral) Company LimitedNRNRNRNRNRN.E.M. (WI) Insurance Limited70,10166,72312,550--Royal Caribbean Insurance Limited(27)----Sagicor General Insurance Inc.---21,59432,442The Beacon Insurance CompanyLimited15,39212,48012,36413,28415,876REPORT ON INSURANCE AND PENSIONS 37


INSURANCE COMPANIESSCHEDULE SHOWING CHANGE IN NET PREMIUM INCOMEMOTOR INSURANCE BUSINESS (continued)Companies2002(000)$2003(000)$2004(000)$2005(000)$2006(000)$LOCALThe Goodwill General InsuranceCompany LimitedNRNRNRNRNRThe Great Northern InsuranceCompany Limited4,8705,9346,3798,2659,778The New India Assurance Company(Trinidad and Tobago) Limited6,6608,27210,55613,72621,078The Presidential Insurance CompanyLimited16,78817,13817,84719,05921,343The Reinsurance Company of Trinidadand Tobago Limited2,4245,6137,6058,48715,898Trinidad and Tobago InsuranceLimited40,66344,37955,53066,16479,498Grand Total360,751373,846420,992523,735638,335(See Figure 9)NR – Returns Not Received38REPORT ON INSURANCE AND PENSIONS


GENERAL INSURANCE BUSINESSFIGURE 9Motor Insurance BusinessNet Premium Income64063062061060059058057056055054053052051050049048047046045044043042041040039038037036035034033032031030020022003200420052006YEAR2002Net Premium ($M)3612003 3742004 4212005 5242006 638REPORT ON INSURANCE AND PENSIONS 39


INSURANCE COMPANIESUnderwriting Results4.12 In 2006, the underwriting results of motor vehicle insurance business showed an overallunderwriting profit of $45,648,574 as compared to an overall underwriting profit of$26,528,313 in 2005.Details are in Table XIVReinsurance4.13 An examination of “Premium Analysis” statements revealed the following net retentionratios (i.e., Net Premiums retained as a percentage of Gross Premiums written bycompanies).YEARPER CENT20062005200420032002928985858640REPORT ON INSURANCE AND PENSIONS


GENERAL INSURANCE BUSINESSREINSURANCE - MOTOR INSURANCE BUSINESS - 2006CompaniesLOCALGROSSPREMIUMSNETPREMIUMSNET RETENTIONRATIO$ $ %American Life and GeneralInsurance Company (Trinidad andTobago) Limited19,203,40018,878,62498.31Bankers Insurance Company of T&TLimited18,216,21914,183,40077.86Capital Insurance Limited57,512,29855,316,08696.18Colonial Fire & General InsuranceCo. Limited95,769,36892,462,32496.55Furness Anchorage GeneralInsurance Limited2,526,0422,196,47286.95G.T.M. Fire Insurance CompanyLimited19,684,89914,716,53674.76Guardian General InsuranceLimited143,551,209130,642,49591.01Gulf Insurance Limited11,664,12210,148,00887.00Maritime General InsuranceCompany Limited81,990,59569,018,21684.18Motor and General InsuranceCompany Limited14,372,17314,310,14399.57Motor One Insurance CompanyLimited22,706,16020,549,00490.50Reinsurance Company of Trinidad &Tobago17,377,39515,898,00191.49The Beacon Insurance CompanyLimited17,506,02215,876,08290.69REPORT ON INSURANCE AND PENSIONS 41


INSURANCE COMPANIESREINSURANCE - MOTOR INSURANCE BUSINESS - 2006 (continued)CompaniesLOCALGROSSPREMIUMSNETPREMIUMSNET RETENTIONRATIO$ $ %Sagicor General InsuranceCompany Limited33,048,96432,441,75898.16The Great Northern InsuranceCompany Limited10,153,0529,778,18396.31The New India Assurance Company(T&T) Limited22,159,88321,077,80095.12The Presidential InsuranceCompany Limited22,977,53221,343,45992.89Trinidad and Tobago InsuranceLimited84,511,13879,498,10294.07TOTAL694,930,471638,334,69291.86GRAND TOTAL694,930,471638,334,69291.8642REPORT ON INSURANCE AND PENSIONS


GENERAL INSURANCE BUSINESSGENERAL INSURANCE - OTHER THAN LONG-TERM OR MOTOR4.14 Twenty-two (22) companies submitted Returns under this broad category, including five (5)life insurance companies transacting Personal Accident and Group Health businesses. Two(2) companies, which submitted Returns, wrote no new business in 2006.4.15 Group Health Insurance accounted for 46% of the premium in this category of business; five(5) insurers transacted this class of business during the year 2006.Details are in Tables XVI-XXChange in Premium Income4.16 During the year 2006 net premium income totaled $558.3 million, an increase of 33.7% overthe 2005 net premium income of $417.6 million.4.17 Premium Income in respect of individual companies during the years 2002 to 2006 was asfollows:SCHEDULE SHOWING NET PREMIUM INCOME FOR PERIOD 2002 to 2006 –OTHER THAN LONG-TERM OR MOTOR BUSINESSCompanies2002(000)$2003(000)$2004(000)$2005(000)$2006(000)$LOCALAmerican Life and GeneralInsurance Company (Trinidad andTobago) Limited58,47756,88256,48441,77761,336Bankers Insurance Company ofTrinidad and Tobago Limited1,2182,5272,0995,6925,883British-American InsuranceCompany (Trinidad) LimitedNR2,1481,9322982348Capital Insurance Limited6574768122Citizen Insurance Company Limited1711129666NRColonial Fire and General InsuranceCompany Limited55,08559,95963,13265,41869,285Export-Import Bank of Trinidad andTobago LimitedNR2,2292,5262,2902,085NR – Returns Not ReceivedREPORT ON INSURANCE AND PENSIONS 43


INSURANCE COMPANIESSCHEDULE SHOWING NET PREMIUM INCOME FOR PERIOD 2002 to 2006 –OTHER THAN LONG-TERM OR MOTOR BUSINESS (continued)Companies2002(000)$2003(000)$2004(000)$2005(000)$2006(000)$LOCALFurness Anchorage General InsuranceLimited7847097506362,337G.T.M. Fire Insurance CompanyLimited4,0174,5295,5562,4976,634Guardian General Insurance Limited57,57155,95553,39947,96561,022Guardian Life of the CaribbeanLimited---152,271193,346Gulf Insurance Limited2,5004,5624,6406572,887Maritime General InsuranceCompany Limited4,9855,1226,1342,6636,615Mega Insurance LimitedNR212---Nationwide Insurance (Casualty &General) Company LimitedNRNRNRNRNRN.E.M. (West Indies) InsuranceLimited43,79650,4941,1585063The Reinsurance Company ofTrinidad and Tobago Limited1,3132,6241,5944,5039,204Royal Caribbean Insurance Limited(67)904---Sagicor General Insurance Inc.---9,90115,908The Beacon Insurance CompanyLimited7,8669,76818,15113,06426,436The Great Northern InsuranceCompany Limited464846159The Goodwill General InsuranceCompany LimitedNRNRNRNRNRThe New India Assurance Company(Trinidad and Tobago) Limited9781,0461,8264012030NR – Returns Not Received44REPORT ON INSURANCE AND PENSIONS


GENERAL INSURANCE BUSINESSSCHEDULE SHOWING CHANGE IN NET PREMIUM INCOMEOTHER THAN LONG-TERM OR MOTOR BUSINESS (continued)Companies2002(000)$2003(000)$2004(000)$2005(000)$2006(000)$LOCALTrinidad and Tobago InsuranceLimited30,01531,18632,03324,19531,184TOTAL268,820291,090251,632374,808498,728REGIONALSagicor Life Incorporated21,35727,37032,56737,74948,264United Insurance Company Limited2,4973,5946,2535,01211,342TOTAL23,85430,96438,82042,76059,606GRAND TOTAL292,674322,054290,452417,568558,334(See Figure 10)NR – Returns Not ReceivedREPORT ON INSURANCE AND PENSIONS 45


INSURANCE COMPANIESFIGURE 10OTHER INSURANCE BUSINESSNET PREMIUM INCOME56055054053052051050049048047046045044043042041040039038037036035034033032031030029028027026025024023022021020020022003200420052006YEARNet Premium IncomeOther Insurance Business ($M)2002 2932003 3252004 2912005 4182006 55846REPORT ON INSURANCE AND PENSIONS


GENERAL INSURANCE BUSINESSUnderwriting Results4.18 In 2006, the underwriting results of property insurance business revealed an overall underwritingloss of $76,672,930. This class of business experienced an overall underwriting lossof $59,338,208 in 2005.Details are summarized in Table XXI.Reinsurance4.19 An examination of the Premium Analysis statements revealed the followingaverage net retention ratios (that is, Net Premiums retained as a percentage of GrossPremiums written by Companies).2002%2003%2004%2005%2006%PropertyOther (that is, exclusive of MotorVehicle, Property and Long-term)10751070106212689684.20 Details of the percentage of Gross Premium retained in respect of property insurance businessare as follows:REINSURANCE - PROPERTY BUSINESS 2006CompaniesLOCALGROSSNET NET RETENTIONPREMIUMS PREMIUMSRATIO$ $ %American Life and GeneralInsurance Co (Trinidad and Tobago)Limited.201,900,96911,547,0215.72Bankers Insurance Company ofTrinidad and Tobago Limited4,308,871191,0704.43British-American InsuranceCompany (Trinidad) Limited *1,474,837800,97954.30Capital Insurance Limited306,016121,62839.75Colonial Fire & General InsuranceCo. Limited85,355,1156,790,1547.96REPORT ON INSURANCE AND PENSIONS 47


INSURANCE COMPANIESREINSURANCE - PROPERTY BUSINESS 2006 (continued)CompaniesLOCALGROSSNET NET RETENTIONPREMIUMS PREMIUMSRATIO$ $ %Furness Anchorage GeneralInsurance Limited6,506,826538,4498.28G.T.M. Fire Insurance CompanyLimited19,254,7153,040,09515.79Guardian General InsuranceLimited81,901,84213,043,84015.93Gulf Insurance Limited20,080,0472,230,84711.11Maritime General InsuranceCompany Limited58,144,9552,993,3425.15The Beacon Insurance CompanyLimited52,695,2303,688,4867.00Sagicor General InsuranceIncorporated39,155,327(774,700)(1.98)The Great Northern InsuranceCompany Limited117,03359,64250.96The New India Assurance Company(T&T) Limited12,931,1671,540,15011.91The Reinsurance Company ofTrinidad & Tobago19,712,9331,444,5367.33Trinidad and Tobago InsuranceLimited49,253,4407,119,65414.46TOTAL653,099,32354,375,1938.33REGIONALUnited Insurance Company Limited33,437,7494,459,15313.34TOTAL33,437,7494,459,15313.34GRAND TOTAL686,537,07258,834,3468.57* Not writing new property business.48REPORT ON INSURANCE AND PENSIONS


GENERAL INSURANCE BUSINESS4.21 Details of the percentage of Gross Premium retained in respect of other categories of generalinsurance business (excluding Motor and Property) are as follows:REINSURANCE - OTHER THAN MOTOR, PROPERTY AND LONG-TERM BUSINESS 2006CompaniesLOCALGROSSNET NET RETENTIONPREMIUMS PREMIUMSRATIO$ $ %American Life and GeneralInsurance Company (Trinidad andTobago) Limited82,877,28249,788,74860.08Bankers Insurance Company of T&TLimited5,906,5955,691,80696.36British-American InsuranceCompany (Trinidad) Ltd1,976,5011,547,47078.29Colonial Fire & General InsuranceCompany Limited75,462,40162,494,94582.82Export-Import Bank of Trinidad andTobago Limited2,085,0902,085,090100.00Furness Anchorage GeneralInsurance Limited4,000,7421,798,69844.96G.T.M. Fire Insurance CompanyLimited5,231,8163,594,05168.70Guardian General InsuranceLimited68,186,85547,978,58970.36Guardian Life of the CaribbeanLimited201,799,184193,346,98295.81Gulf Insurance Limited3,824,604656,55817.17Maritime General InsuranceCompany Limited13,169,2373,622,50527.51N.E.M. (West Indies) InsuranceLimited8,826,3493,2010.04The Beacon Insurance CompanyLimited63,938,31222,747,51035.58Sagicor General InsuranceIncorporated39,303,60016,682,24742.44REPORT ON INSURANCE AND PENSIONS 49


INSURANCE COMPANIESREINSURANCE - OTHER THAN MOTOR, PROPERTYAND LONG-TERM BUSINESS 2006 (continued)CompaniesLOCALGROSSNET NET RETENTIONPREMIUMS PREMIUMSRATIO$ $ %The New India Assurance Company(T&T) Limited521,661490,07993.95The Reinsurance Company ofTrinidad & Tobago59,720,6627,759,84512.99Trinidad and Tobago InsuranceLimited38,480,82724,064,72562.54TOTAL675,311,718444,353,04965.80REGIONALSagicor Life Incorporated50,149,47948,263,94096.24United Insurance Company Limited10,391,8976,882,44666.23TOTAL60,541,37655,146,38691.09GRAND TOTAL735,853,094499,499,43567.8850REPORT ON INSURANCE AND PENSIONS


GENERAL INSURANCE BUSINESSSolvency Test4.22 Section 77(1) of the Insurance Act, Chap. 84:01 states, inter alia, that“a company carrying on general insurance business shall be deemed for the purpose of theCompanies Ordinance to be unable to pay its debts where the value of its admissible assetsdoes not exceed the amount of its liabilities by which ever is the greater of the followingamounts:(a) two hundred and fifty thousand dollars; or(b) twenty per cent (20%) of the general premium income of the company computedas at the end of its last financial year. “4.23 Details of the solvency position of companies registered to underwrite motor and othergeneral insurance business are shown as follows:MARGIN OF SOLVENCY GENERAL INSURANCE BUSINESS - 2006CompaniesMINIMUMSOLVENCYREQUIREMENT INACCORDANCEWITH SECTION 77OF THE INSURANCEACT 1980EXCESS (DEFICIT)ADMISSIBLEASSETS OVERLIABILITIESMARGIN OFSOLVENCY/INSOLVENCY+ OR (-)$ $ $LOCALAmerican Life and GeneralInsurance Company TrinidadLimited16,042,879104,349,86188,306,982Bankers Insurance Company (T&T)Limited4,013,255(3,884,356)(7,897,611)British American InsuranceCompany (Trinidad) Limited2,342,449(30,391,462)(32,733,911)Capital Insurance Limited11,087,54325,082,87313,995,330Caribbean Insurance CompanyLimited250,0005,096,4574,846,457Citizen Insurance Company LimitedUNDERINTERVENTIONColonial Fire & General InsuranceCompany Limited34,205,89839,134,9504,929,052REPORT ON INSURANCE AND PENSIONS 51


INSURANCE COMPANIESMARGIN OF SOLVENCY GENERAL INSURANCE BUSINESS - 2006 (continued)CompaniesMINIMUMSOLVENCYREQUIREMENT INACCORDANCEWITH SECTION 77OF THE INSURANCEACT 1980EXCESS (DEFICIT)ADMISSIBLEASSETS OVERLIABILITIESMARGIN OFSOLVENCY/INSOLVENCY+ OR (-)$ $ $LOCALFurness Anchorage GeneralInsurance Limited906,7245,992,4875,085,763GTM Insurance Company Limited4,270,1367,635,5803,365,444Guardian General InsuranceLimited45,823,02080,445,91534,622,895Gulf Insurance Limited9,119,35116,158,3767,039,025Maritime General InsuranceCompany Limited15,126,81278,748,46363,621,651Motor and General InsuranceCompany Limited2,863,36010,921,0228,057,662Motor One Insurance CompanyLimited4,109,8008,929,6474,819,847N.E.M. (West Indies) InsuranceLimited25,878,335133,388,121107,509,786Royal Caribbean Insurance Limited250,000(1,202,702)(1,452,702)Sagicor General7,340,060(1,488,081)(8,828,141)Sagicor Life Incorporated50,211,939232,291,246182,079,307The Beacon Insurance CompanyLimited13,597,28316,458,3362,861,053The Great Northern InsuranceCompany Limited1,967,5653,925,6001,958,035The New India Assurance Company(T&T) Limited7,249,15540,874,34933,625,19452REPORT ON INSURANCE AND PENSIONS


GENERAL INSURANCE BUSINESSMARGIN OF SOLVENCY GENERAL INSURANCE BUSINESS - 2006 (continued)CompaniesMINIMUMSOLVENCYREQUIREMENT INACCORDANCEWITH SECTION 77OF THE INSURANCEACT 1980EXCESS (DEFICIT)ADMISSIBLEASSETS OVERLIABILITIESMARGIN OFSOLVENCY/INSOLVENCY+ OR (-)$ $ $LOCALThe Presidential InsuranceCompany Limited4,268,6927,134,5222,865,830The Reinsurance Company ofTrinidad & Tobago Limited5,020,476864,956(4,155,520)Trinidad and Tobago InsuranceLimited28,779,592156,592,535127,812,943TOTAL294,724,324937,058,695642,334,371REGIONALUnited Insurance Company Limited36,377,67188,168,84451,791,173TOTAL36,377,67188,168,84451,791,173GRAND TOTAL331,101,9951,025,227,539694,125,544+ Caribbean Insurance Company Limited is running off its portfolio.* Nationwide Insurance (Casualty & General) Company Limited, the Mountain General Insurance CompanyLimited and the Western General Insurance Company Limited, have stopped writing new business.NR – Returns Not ReceivedREPORT ON INSURANCE AND PENSIONS 53


INSURANCE COMPANIES5. ASSOCIATION OF UNDERWRITERSRegistration5.01 Lloyd’s Underwriters remained the only association of underwriters registered to transactinsurance business in Trinidad and Tobago.Intermediaries5.02 The names of Trinidad and Tobago intermediaries through whom insurance or reinsurancewas placed at Lloyd’s are listed hereunder:Charlett and Gatcliffe LimitedInsurance Brokers West Indies LimitedM & M Insurance Services LimitedMiller Insurance Brokers Limited21st Century Insurance and Reinsurance Brokers LimitedVolume of BusinesS5.03 Insurance business placed at Lloyd’s during the years 2006 and 2005 are detailed below:Premiums Received2006 2005Claims Paid2006 2005Direct Insurance104,019,24790,307,1407,592,05018,627,094Reinsurance140,996,606209,262,386--TOTAL245,015,853299,569,5267,592,05018,627,09454REPORT ON INSURANCE AND PENSIONS


PART II - INSURANCE INTERMEDIARIES6. PART II insurance intermediaries6.01 The following table shows the number of intermediaries that were registered during2006 in accordance with Part III of the Insurance Act, Chap. 84:01.IntermediarIESNEW APPLICATIONSapproved in 2006Renewal CertificatesIssued in 2006SALESMEN:AGENTS:4711,353(a)(b)(c)IndividualsPartnershipsCorporate Bodies16-58129-263TOTAL74392BROKERS:(a)(b)(c)IndividualsPartnershipsCorporate Bodies4-342-38TOTAL780ADJUSTERS:(a)(b)(c)IndividualsPartnershipsCorporate Bodies---9-14TOTAL-23List of registered Agents, Brokers and Adjusters are provided at Appendices B, C and D respectively of this report.REPORT ON INSURANCE AND PENSIONS 55


INSURANCE INTERMEDIARIESExaminations6.02 The Trinidad and Tobago Insurance Institute is the approved educational institution tosupervise and administer examinations referred to in Part III of the Act.6.03 The results of examinations in life and general insurance and Diploma in MotorInsurance Claims Investigation & Adjusting which were held in 2006 are as follows:NO. OF PERSONSREGISTERED TOWRITE EXAMSNO. OF PERSONSWHO WERESUCCESSFULNO. OF PERSONSREGISTERED TOWRITE EXAMSBUT DID NOTLong-term InsuranceExaminationsAprilJuneAugustSeptemberOctoberDecember9253994055141422340302664124128817General InsuranceExaminationsAprilJuneAugustOctoberDecember4354683963354836274170566Paper 2 - Motor Insurance ClaimsPrinciples & PracticesDecember961REVENUE6.04 The total revenue collected from registration fees for the period ended 31st December 2006amounted to $940,500 and in 2005 - $864,100.56REPORT ON INSURANCE AND PENSIONS


PART III - PENSION FUND PLANS7. PART III pENSION FUND PLANS7.01 No new Pension Plans were registered during 2006.7.02 The number of active registered Pension Fund Plans now stands at one hundred andninety-seven (197) comprising ninety-two (92) self-administered Pension Fund Plansand one hundred and five (105) insured/annuity plans. There are now fifty-nine (59)plans in the process of being wound-up; this figure is inclusive of one (1) plan which isunder judicial management. A list of the pension plans is provided at Appendix E tothis report.7.03 The list of the active registered pension plans is provided at Appendix E to this report.Amendments7.04 Two (2) amendments were made to the Trust Deeds and Rules of two (2) pension fundplans, during the period under review.The amendments were registered upon payment of the prescribed fee.Revenue7.05 Revenue in respect of the amendments thereto for the year ended 31st December 2006was twenty dollars ($20.00).Annual Accounts7.06 The trustees of pension fund plans submitted annual audited accounts in respect of onehundred and thirty-nine (139) plans. Seventy (70) were in respect of self administeredpension fund plans and sixty-nine (69) were in respect of insured /annuity pension fundplans.7.07 For the purpose of this report, insured plans included plans which are administered byan insurer under a deposit administration contract.7.08 The Accounts received are detailed at Tables XXX11 to XXXV.REPORT ON INSURANCE AND PENSIONS 57


PENSION FUND PLANS7.09 The following information has been extracted from the annual accounts received.REVENUE ACCOUNTS 2006 - INSURED PENSION FUND PLANSREVENUE $(1) Amount of Fund at beginning of period(2) Contributions by employers(3) Contributions by employees(4) Any additional contribution by employerto meet deficiency or back service liability(5) Interest, Dividends and Rents(6) Other Income929,797,37729,961,18318,953,888631,52364,505,6011,422,175TOTAL REVENUE1,045,271,747EXPENDITURE $(1) Superannuation benefits(i) Pensions to retired employees(ii) Retirement Gratuities(2) Death Grants(3) Return of Contributions on withdrawal(4) Other Expenditure(5) Amount of Fund at end of period25,954,8575,957,902626,7263,442,4806,980,7491,002,309,033TOTAL EXPENDITURE1,045,271,74758REPORT ON INSURANCE AND PENSIONS


PENSION FUND PLANSREVENUE ACCOUNTS 2006 - SELF ADMINISTERED PENSION FUND PLANSREVENUE $(1) Amount of Fund at beginning of period(2) Contributions by employers(3) Contributions by employees(4) Any additional contribution by employersto meet deficiency or back service liability(5) Interest, Dividends and Rents(6) Other IncomeTOTAL REVENUE20,242,649,614257,940,685140,541,0762,810,000835,178,553(117,224,824)21,361,895,104EXPENDITURE $(1) Superannuation Benefits(i) Pensions to Retired Employees(ii) Retirement Gratuities(2) Death Grants(3) Return of Contributions on withdrawal(4) Other Expenditure(5) Amount of Fund at end of periodTOTAL EXPENDITURE304,777,871148,863,03218,470,31222,587,1481,727,418,26719,139,778,47421,361,895,1047.10 Contributions received for the years 2002 to 2006 were shared as follows:CONTRIBUTIONS RECEIVED IN:2002 2003 20042005 2006$ $ $ $ $EMPLOYER 158,882,807 168, 891,229 151,995,351 241,345,825 291,343,391EMPLOYEES 91,547,746 119, 894,595 92,086,298 138,806,109 159,494,964(See Figure 11)REPORT ON INSURANCE AND PENSIONS 59


PENSION FUND PLANSBalance Sheets7.11 The Insurance Act requires that balance sheets should be furnished only in respect of selfadministeredpension fund plans. In respect of insured pension fund plans the relevantinformation is incorporated in the Balance Sheet which the insurance company is requiredto submit with its annual financial returns.7.12 The following assets distribution statement in respect of self-administered plans has beencompiled from the balance sheets of the accounts of self-administered plans received forthe year 2006.ASSETS OF SELF-ADMINISTERED PLANSTrinidad and Tobago GovernmentSecurities denoted in TT $MortgagesReal EstateTrinidad and Tobago EquitiesFixed/Call DepositsOther Trinidad and Tobago AssetsTrinidad and Tobago GovernmentSecurities denoted in ForeignCurrency2006$1,578,656,446253,650,23424,253,4007,298,633,4351,342,439,2467,204,791,646120,527,3592005$1,511,440,380285,676,58320,931,0669,794,178,516927,842,9077,404,858,895226,438,794TOTAL LOCAL ASSETS17,822,951,76620,171,367,141Caricom/Foreign Government SecuritiesOther Caricom/Foreign SecuritiesTOTAL ASSETS IN FUND275,661,8991,800,155,88119,898,769,546101,348,5961,858,635,28322,109,004,547LOCAL ASSETS RATIO89.57%91.14%(see Figure 12)7.13 During the year 2006 the Actuarial Valuations of forty-one (41) registered pension fundplans were submitted.7.14 The reports were reviewed with particular reference to the comments and/orrecommendations of the Actuaries with respect to the solvency position of each Plan.60REPORT ON INSURANCE AND PENSIONS


PENSION FUND PLANSFIGURE 11PENSION PLAN CONTRIBUTIONSMILLIONS3002502001501005002002 2003200420052006EMPLOYERSEMPLOYEESEMPLOYEESEMPLOYERSREPORT ON INSURANCE AND PENSIONS 61


PENSION FUND PLANSFIGURE 12PENSION FUND PLANSASSETS OF SELF ADMINISTERED PLANSMortgages 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%2006 2005$ $MORTGAGES 253,650,234 285,676,583FOREIGN ASSETS 2,075,817,780 1,937,637,406FIXED DEPOSITS 1,342,439,246 927,842,907T&T GOV’T SEC. 1,578,656,446 1,511,440,380OTHER * 14,648,205,840 17,468,753,74419,898,769,546 22,131,351,020* Other includes Real Estate, T&T Equities & Other T&T Assets62REPORT ON INSURANCE AND PENSIONS


ACTUARIAL INVESTIGATIONSSUMMARIES OF THE RESULTS AND RECOMMENDATIONSOF THE ACTUARIAL INVESTIGATIONS ARE REPORTED HEREUNDER:NAME OF PLANACTUARYVALUATIONDATERESULTS ANDRECOMMENDATIONSTRINTOC StaffRetirement PlanBacon Woodrow &De SouzaSeptember 30,2004The valuation revealed a past servicesurplus of $ 69.4 million with a fundinglevel of 105%.It was recommended that:-(a) The Company continue to contributeto the Plan at the minimum rate i.e.twice members’ ordinary contribution.(b) The Trustees review the Plan’sinvestment strategy with the Plan’sManagement Committee and Petrotrinwith a view to diversifying the Assetportfolio.The next actuarial valuation must becarried out no later thanSeptember 30, 2007.Trinmar Employees’Benefit PlanBacon Woodrow &De SouzaSeptember 30,2004The valuation revealed a past servicesurplus of $ 84. 2 million with a fundinglevel of 133% .It was recommended that:-(a) The Company continue to contributeto the Plan at the minimum rate i.e.12% of pensionable earnings.(b) The Trustees review the Plan’sinvestment strategy with the Plan’sManagement Committee and Petrotrinwith a view to diversifying the Assetportfolio.The next actuarial valuation must becarried out no later thanSeptember 30, 2007.Trintoc ContributoryPension Fund ABacon Woodrow &De SouzaSeptember 30,2004The valuation revealed a past servicesurplus of $ 330.4 million with afunding level of 229%.It was recommended that:-(a) The Company continue to contributeto the Plan at the minimum rate i.e.twice members’ ordinary contribution.(b) The Trustees review the Plan’sinvestment strategy with the Plan’sManagement Committee and Petrotrinwith a view to diversifying the Assetportfolio.The next actuarial valuation must becarried out no later than September 30,2007.REPORT ON INSURANCE AND PENSIONS 63


ACTUARIAL INVESTIGATIONSSUMMARIES OF THE RESULTS AND RECOMMENDATIONSOF THE ACTUARIAL INVESTIGATIONS ARE REPORTED HEREUNDER (continued)NAME OF PLANACTUARYVALUATIONDATERESULTS ANDRECOMMENDATIONSTrintoc Employees’Benefit PlanBacon Woodrow &De Souza89.08710.9100.003September 30,200489.76310.1920.04590.9089.0580.034The valuation revealed a past service surplus of $424. 1 million91.868with a funding93.004level of 148%.It was recommended that:-8.100 6.963(a) The Company continue to contribute to thePlan at the 0.032 minimum rate 0.033 i.e. twice members’ordinary contribution.(b) The Trustees review the Plan’s investmentstrategy with the Plan’s Management Committeeand Petrotrin with a view to diversifying the Assetportfolio.The next actuarial valuation must be carried outno later than September 30, 2007.Trintopec StaffPension PlanBacon Woodrow &De SouzaSeptember 30,2004The valuation revealed a past service surplus of $453 million with a funding level of 201%.It was recommended that:-(a) The Company continue to contribute to thePlan at the minimum rate i.e. twice members’ordinary contribution.(b) The Trustees review the Plan’s investmentstrategy with the Plan’s Management Committeeand Petrotrin with a view to diversifying the Assetportfolio.The next actuarial valuation must be carried outno later than September 30, 2007.Trintopec EmployeesPension PlanBacon Woodrow &De SouzaSeptember 30,2004The valuation revealed a past service surplus of$303.2 million with a funding level of 194%.It was recommended that:-(a) The Company continue to contribute to thePlan at the minimum rate i.e. twice members’ordinary contribution.(b) The Trustees review the Plan’s investmentstrategy with the Plan’s Management Committeeand Petrotrin with a view to diversifying the Assetportfolio.The next actuarial valuation must be carried outno later tnan September 30, 2007.Trintoc ContributoryPension Fund BBacon Woodrow &De SouzaSeptember 30,2004The valuation revealed a past service surplus of $313. 2 million with a funding level of 226%It was recommended that:-(a) The Company continue to contribute to thePlan at the minimum rate i.e. twice members’ordinary contribution.(b) The Trustees review the Plan’s investmentstrategy with the Plan’s Management Committeeand Petrotrin with a view to diversifying the Assetportfolio.The next actuarial valuation must be carried outno later than September 30, 2007.64REPORT ON INSURANCE AND PENSIONS


ACTUARIAL INVESTIGATIONSSUMMARIES OF THE RESULTS AND RECOMMENDATIONSOF THE ACTUARIAL INVESTIGATIONS ARE REPORTED HEREUNDER (continued)NAME OF PLANACTUARYVALUATIONDATERESULTS ANDRECOMMENDATIONSFirst Citizens BankPension FundBacon Woodrow &89.087De Souza10.9100.003September 30,200489.76310.1920.04590.9089.0580.034The valuation revealed a past service91.868 93.004surplus of $178.5 million with afunding level 8.100 of 157%. 6.963It was recommended that:-(a) The Bank 0.032should 0.033 continue tocontribute at the rate of 5% of salariesuntil the results of the next valuation.(b) The Trustees review the Plan’sinvestment strategy with the Plan’sManagement Committee and theBank with a view to bringing the assetdistribution into compliance with theprovisions of the Insurance Act anddiversifying the asset portfolio as part ofimplementing a formal Statement ofInvestment Policy which is regarded asa key element of a strong governancestructure for a pension plan.The next valuation is due to take place asat September 30, 2007.Halliburton TrinidadLimited Pension PlanMartin Rondeau (MercerHuman ResourceConsulting)January 1,2004The valuation revealed a deficit of $7.7million with a funding level of 75%.It was recommended that:-(a) The current Past Service Liability beamortized over the next 15 years.(b) A total contribution as follows:(i) 2004 normal cost contributionof 13.5% of annual payroll, plus(ii) an annual payment of $796,000.National AgroChemicals LimitedPension Fund PlanBacon Woodrow &De SouzaJune 1, 2003The valuation revealed a deficit of $.210million with a funding level of 79.2%.It was recommended that:-(a) The Company increase its contributionsto 9.8% of members’ salaries with effectfrom January 1, 2006.(b) Any contributions paid into the Planthat are in excess of the premiums beingcharged by Guardian Life are invested bythe Trustee in a separate segregated fundwith the Plan’s rebates. This fund can beused to finance future increases inGuardian Life’s premiums as these arise.REPORT ON INSURANCE AND PENSIONS 65


ACTUARIAL INVESTIGATIONSSUMMARIES OF THE RESULTS AND RECOMMENDATIONSOF THE ACTUARIAL INVESTIGATIONS ARE REPORTED HEREUNDER (continued)NAME OF PLANACTUARYVALUATIONDATERESULTS ANDRECOMMENDATIONSNational AgroChemicals LimitedPension Fund PlanBacon Woodrow &89.087De Souza10.9100.00389.76310.1920.045June 1, 200390.9089.0580.034(c) The Trustee and the Company91.868 93.004review the Plan’s investment strategy. Inparticular, consideration 8.100 should 6.963be givento surrendering the existing Policy withGuardian Life. 0.032 0.033(d) The recommendations above will besubject to immediate review if the benefitor contribution provisions of the Plan areamended before the next valuation.The next actuarial valuation should becarried out no later than June 1, 2006.J.N. HarimanBacon Woodrow &De SouzaJanuary 1,2003The valuation revealed a past servicesurplus of $3.1 million with a fundinglevel of 129%.It was recommended that:-(a) The Company should continue to payarrears of members’ contributions to thePlan as quickly as possible.(b) Subject to the necessary approval fromthe Board of Inland Revenue and to reviewif and when either pension increases orany further benefit improvements areawarded, the Company should continueits present contribution holiday. This willbe reviewed at the next valuation.The next valuation should be carried outno later than January 1, 2006.Mandev-QualassurePension Fund PlanBacon Woodrow &De SouzaSeptember 30,2003The valuation revealed a past servicesurplus of $22.338 million with aFunding level of 214%.It was recommended that:-(a) The Bureau should continue tocontribute at the minimum rate of 18%.(b) The recommendation at (a) will besubject to immediate review if the benefitor contribution provisions of the Plan areamended before the next valuation.The next valuation should be carried outno later than September 30, 2006.66REPORT ON INSURANCE AND PENSIONS


ACTUARIAL INVESTIGATIONSSUMMARIES OF THE RESULTS AND RECOMMENDATIONSOF THE ACTUARIAL INVESTIGATIONS ARE REPORTED HEREUNDER (continued)NAME OF PLANACTUARYVALUATIONDATERESULTS ANDRECOMMENDATIONSConsolidated InsuranceConsultants LimitedBacon Woodrow &89.087De Souza10.9100.00389.76310.1920.045June 30, 200490.9089.0580.034The valuation revealed a past service91.868 93.004surplus of $ 58.1 million with a fundinglevel of 640%. 8.100 6.963It was recommended that:-(a) The Company 0.032 should 0.033continueits contribution holiday. This will bereviewed at the next valuation.(b) The company adopt a formalmechanism for granting annual increasesbetween actuarial valuations.(c) The Trustees review the Plan’sinvestment strategy with the Plan’sManagement Committee and theCompany with a view to diversifying theasset portfolio. This should be done aspart of implementing a formal Statementof Investment Policy, which is regardedas a key element of a strong governancestructure for a pension plan.The next valuation should be carried outno later than June 30, 2007.T&TEC Pension FundPlanBacon Woodrow &De SouzaDecember 31,2003The valuation revealed a past servicesurplus of $.657 million with a fundinglevel of 144%.It was recommended that:-(a) The Company should continuecontributing at the existing rate of 15%of members’ basic pay.(b) The Committee discuss the Plan’sinvestment strategy with T&TEC andPowergen with a view to rebalancing theasset portfolio as part of implementing aformal Statement of Investment Policy.The next valuation should be carried outno later than December 31, 2006.REPORT ON INSURANCE AND PENSIONS 67


ACTUARIAL INVESTIGATIONSSUMMARIES OF THE RESULTS AND RECOMMENDATIONSOF THE ACTUARIAL INVESTIGATIONS ARE REPORTED HEREUNDER (continued)NAME OF PLANACTUARYVALUATIONDATERESULTS ANDRECOMMENDATIONSBel Air InternationalAirport Hotel Ltd.Pension Fund PlanEckler Partners89.08710.9100.00389.76310.1920.045June 1, 200590.9089.0580.034The valuation revealed a deficit of91.868 93.004$563,068 with a funding level of 41.19%.It was recommended 8.100 that:-6.963(a) The Company increase its’ monthlycontribution 0.032 s to $15,000. 0.033The next valuation should be conductedon or before June 1, 2008.Associated BrandsLimited Group PensionBacon Woodrow &De SouzaJanuary 1,2005The valuation revealed a past servicesurplus of $5.084 million with afunding level of 117%.It was recommended that:-(a) The Trustees review the Plan’sinvestment strategy with the Plan’sManagement Committee and theCompanies with a view to diversifyingthe asset portfolio in conjunction witha formal Statement of Investment Policywhich is regarded as a key element ofa strong governance structure for apension plan.The next valuation is due to take place asat January 1, 2008.TEXTEL Pension PlanBacon Woodrow & DeSouzaMarch 31,2005The valuation revealed a past servicesurplus of $171.7 million with afunding level of 169% after adequateprovision has been made to fundbenefits at the TSTT Plan level includingEERP enhancementsIt was recommended that:-(a) No contributions to the Plan areneeded from TSTT for the time being.The next actuarial valuation is due totake place as at March 31, 2008.68REPORT ON INSURANCE AND PENSIONS


ACTUARIAL INVESTIGATIONSSUMMARIES OF THE RESULTS AND RECOMMENDATIONSOF THE ACTUARIAL INVESTIGATIONS ARE REPORTED HEREUNDER (continued)NAME OF PLANACTUARYVALUATIONDATERESULTS ANDRECOMMENDATIONSCoates Brothers(Caribbean) LimitedStaff Pension FundPlanDaine Baker89.08710.9100.003October 31,200489.76310.1920.04590.9089.0580.034The valuation revealed a past service91.868 93.004surplus of $1.9 million with a fundinglevel of 154%. 8.100 6.963It was recommended that:-(a) Consideration 0.032be given 0.033 to improvingbenefits payable by the Plan.The next valuation should be carried outas at October 31, 2007.RBTT Pension FundPlanKR ConsultingMarch 31,2004The valuation revealed a past servicesurplus of 11.1 million with a fundinglevel of 112%.It was recommended that:-(a) The surplus be carried forward as acontingency reserve to nextvaluation.The next actuarial valuation should beperformed on March 31, 2007.JTA Supermarkets Ltd.Pension Fund PlanKR ConsultingJanuary 1,2004The valuation revealed a past servicesurplus of $2.7 million with afunding level of 153%.It was recommended that:-(a) The Company should continue tocontribute at the rate of 4% of salariesuntil the next valuation.(b) Discussions should be held with theTrustees and the Actuary as to the use ofthe remaining surplus.The next valuation should be performedon or before January 1, 2007.YTEPP LimitedPension PlanEckler Partners LimitedJuly 1, 2004The valuation revealed a past servicesurplus of $100,566 with a fundinglevel of 106%.It was recommended that:-(a) The Company should contribute atthe rate of 10.59 % of the coveredPensionable Payroll.The next valuation be conducted on orbefore July 1, 2007.REPORT ON INSURANCE AND PENSIONS 69


ACTUARIAL INVESTIGATIONSSUMMARIES OF THE RESULTS AND RECOMMENDATIONSOF THE ACTUARIAL INVESTIGATIONS ARE REPORTED HEREUNDER (continued)NAME OF PLANACTUARYVALUATIONDATERESULTS ANDRECOMMENDATIONSBritish AmericanInsurance CompanyPension Fund PlanKR Consulting89.08710.9100.003December 31,200589.76310.1920.04590.9089.0580.034The valuation revealed a past service91.868 93.004surplus of $3.4 million with a fundinglevel of 120%. 8.100 6.963It was recommended that:-(a) The Company 0.032 should 0.033 continue tocontribute at the same rate as Members,i.e. 5%.(b) The residual surplus should be carriedforward as a contingency reserveagainst future adverse experience,and in particular, any continuing poorperformance on the stock exchange.The next valuation should be performedon or before December 31, 2008.Point Lisas IndustrialDevelopment Corp. Ltd.Pension Fund PlanBacon Woodrow &De SouzaDecember 31,2004The valuation revealed a past servicesurplus of $2.3 million with afunding level of 105%.It was recommended that:-(a) The Company continue to paycontributions at the current rate of 5%of pensionable earnings until theresults of the next valuation due as at31 December 2007 are available. ThisContribution rate will be reviewed at thenext valuation.(b) The Trustees review the Plan’sinvestment strategy with the Plan’sManagement Committee with a view todiversifying the asset portfolio as part ofImplementing a formal Statement ofInvestment Policy which is regarded asa key element of a strong governancestructure for a pension plan.The next valuation is due to take place asat December 31, 2007.70REPORT ON INSURANCE AND PENSIONS


ACTUARIAL INVESTIGATIONSSUMMARIES OF THE RESULTS AND RECOMMENDATIONSOF THE ACTUARIAL INVESTIGATIONS ARE REPORTED HEREUNDER (continued)NAME OF PLANACTUARYVALUATIONDATERESULTS ANDRECOMMENDATIONSF.T. Farfan & Sons Ltd.Pension Fund PlanEckler Partnmers Ltd.89.08710.9100.003April 1, 200590.9089.0580.034The valuation revealed a deficit of $795,91.868 93.004335 with a funding level of88.85%. 8.100 6.963It was recommended that:-(a) If allowance 0.032 is made for 0.033 the existingdeficit to be funded over the next tenyears the Company contribute at a rateof 11.75% of covered payroll.The next valuation be conducted on orbefore April 1, 2008.Neal & Massy GroupPension PlanEckler Partnmers Ltd.March 31,2005The valuation revealed a past servicesurplus of $391, 113 with a fundinglevel of 179%.It was recommended that:-(a) No contributions be paid.{NB- Contributions were suspendedpursuant to Rule 23(c)}The next valuation should be conductedon or before March 31, 2008.Trinidad HiltonPension Fund PlanBacon Woodrow &De SouzaJanuary 1,2006The valuation revealed a past servicesurplus of $26.2M with a fundinglevel of 196%It was recommended that :-(a) The Hotel continue to contribute atthe same rate as members.(b) The Plan’s financial position and therecommended contribution rate will bereviewed at the next valuation.The next valuation is due to take place asat January 1, 2009.Lange Trinidad Ltd.Pension Fund PlanEckler PartnersJuly 1, 2005The valuation revealed a deficit of$207,582 with a funding level of 97.98%.It was recommended that:-(a) The company contribute to the plan atthe level of 10.08 % of increasing Payrollat which rate the deficit will be fundedover the next fourteen years.(b) The Company reduce the interestrate credited on members’ voluntarycontributions to 6 % in the light of fallinginvestment Returns.The next valuation should be conductedon or before July 1, 2008.REPORT ON INSURANCE AND PENSIONS 71


ACTUARIAL INVESTIGATIONSSUMMARIES OF THE RESULTS AND RECOMMENDATIONSOF THE ACTUARIAL INVESTIGATIONS ARE REPORTED HEREUNDER (continued)NAME OF PLANACTUARYVALUATIONDATERESULTS ANDRECOMMENDATIONSTrintoplan ConsultantsLimited Pension FundPlanBacon Woodrow &89.087De Souza10.9100.003December 31,200589.76310.1920.04590.9089.0580.034The valuation revealed a past service91.868 93.004surplus of $41.4 million with afunding level 8.100 of 204%. 6.963It was recommended that:-(a) The members 0.032 and the 0.033 Companycontinue on their contribution Holiday.The Plan’s financial position and therecommended contribution rate will bereviewed at the next valuation.(b) The Trustees review the Plan’sinvestment strategy with theManagement Committee and theCompany with a view to diversifying theasset portfolio as part of Implementing aformal Statement of Investment Policywhich is regarded as a key element ofa strong governance structure for apension plan.The next valuation is due to take place asat December 31, 2008.Trinidad and TobagoUnit Trust CorporationPension Fund PlanEckler Partners Ltd.January 1,2004It was recommended that:-(a) Outstanding contributions of $27,458as at the valuation date be remitted tothe Fund.(b) The contingency reserve of $1.1M becarried forward until the date of the nextactuarial review.The next valuation should be conductedno later than January 1, 2007.Bank of CommerceTrinidad and TobagoLimited Retirement PlanBacon Woodrow &De SouzaSeptember 30,2005The valuation revealed a past servicesurplus of $100.5 million with afunding level of 209%.It was recommended that:-(a) The Trustees review the Plan’sinvestment strategy with the Plan’sInvestment Manager and the Bank. Thisshould be done as part of implementinga formal Statement of Investment Policywhich is regarded as a key elementof a strong governance structure fora pension plan. The Policy should beformulated having regard to the needsof the Plan as it will stand aafter thetransfer has taken place.72REPORT ON INSURANCE AND PENSIONS


ACTUARIAL INVESTIGATIONSSUMMARIES OF THE RESULTS AND RECOMMENDATIONSOF THE ACTUARIAL INVESTIGATIONS ARE REPORTED HEREUNDER (continued)NAME OF PLANACTUARYVALUATIONDATERESULTS ANDRECOMMENDATIONSBerger PaintsBacon Woodrow &89.087De Souza10.9100.003December 31,200390.9089.0580.034The valuation revealed a past service91.868 93.004surplus of $8.3 million with afunding level 8.100 of 163%. 6.963It was recommended that:-(a) The 0.032 present suspension 0.033 ofcontributions by the members and theCompany should continue until theresults of the next valuation.(b) The recommendation at (a) will besubject to immediate review if a benefitimprovement is implemented beforethen.The actuarial valuation should be carriedout no later than December 31,2006.Republic Bank LimitedStaff Pension PlanBacon Woodrow &De SouzaSeptember 30,2005The valuation revealed a past servicesurplus of $1,070.8 million with afunding level of 197%.It was recommended that:-(a) The Bank should pay no contributionsto the Plan. This recommendation will bereviewed at the next valuation.The next valuation is due to take place asat September 30, 2008.Trinidad NitrogenCompany LimitedPension Fund PlanDaine BakerDecember 31,2005The valuation revealed a past servicedeficit of $380, 000 with a fundinglevel of 82.9%, however the plan was fullysolvent at the valuation date.It was recommended that:(a) The Company should contribute tothe Plan at the rate of 12.0% of members’basic salaries.(b) The members contribute to the Planat the rate of 6.0% of their basic salaries.(c) The Company should continue tomake quarterly payments of $89, 800 forthe period January 1, 2005 to December31, 2007 to fund the deficit and maintainthe Company contribution rate at12 % ofmembers’ basic salaries.The next actuarial valuation of the Planshould be carried out on data as atDecember 31, 2008.REPORT ON INSURANCE AND PENSIONS 73


ACTUARIAL INVESTIGATIONSSUMMARIES OF THE RESULTS AND RECOMMENDATIONSOF THE ACTUARIAL INVESTIGATIONS ARE REPORTED HEREUNDER (continued)NAME OF PLANACTUARYVALUATIONDATERESULTS ANDRECOMMENDATIONSCuna CaribbeanInsurance SocietyPension Fund PlanBacon, Woodrow &89.087De Souza10.9100.003June 30, 200490.9089.0580.034The valuation revealed a past service91.868 93.004surplus of $395,000 with a fundinglevel of 102.01%. 8.100 6.963It was recommended that:(a) Participating 0.032 Companies 0.033 continue tocontribute at 10% of members’ salaries.(b) Interest declared in future years equalto the return on the smoothed marketvalue of the Plan’s assets, net of actualadministration expenses incurred.(c) Interest until the next actuarialvaluation should be net of the insurancepremiums for the lumpsum deathbenefit.(d) The MC and the Trustees considerpossibility of crediting negative interestwhen asset values fall. Seek legal adviceif necessary.(d) Investment strategy should bereviewed particularly relating topurchase of annuities. Implementationof a statement of investment policy.Eric Solis MarketingLimited Pension PlanEckler Partners limitedJanuary 1,2003The valuation revealed a past servicesurplus of $1,185,216 with a fundinglevel of 193.07%.It was recommended that:(a) The company should consider grantingincreases to the order of 4% p.a.to the existing pensioners and deferredpensioners.(b) Trustees should keep the rate ofreturn credited on Member contributionbalances at 8% p.a. Credited rate shouldfall below rate of return on plan assets.Trustees should monitor this.(c) Company and members should takea contribution holiday with retroactiveeffect to January 1, 2003.REPORT ON INSURANCE AND PENSIONS 75


APPENDIX ASUMMARY OF BALANCE SHEETS OF INCORPORATED COMPANIESAMERICAN LIFE AND GENERAL INSURANCE COMPANY(TRINIDAD AND TOBAGO) LIMITEDINCORPORATED - 1977Directors:G. DEANE; C. TALAVARA; I. SINANAN; D. PATRICK; G. MC CLENNEN;B. DOZIER; M. BUTHE; M. HANSEN; R ELIASecretary:Auditors:Actuary:I. SINANANPRICEWATERHOUSECOOPERSK R SERVICES LIMITEDCountries other than Trinidad and Tobago in which the Company writes business: NILSummary of Balance Sheetin respect of Trinidad and Tobago Businessas at 31st December, 2006assetsInvestments:Fixed Deposits with BankTrinidad and Tobago Government SecuritiesOrdinary shares in T&T CompaniesOrdinary shares in non-T&T CompaniesBonds and Debentures in T&T CompaniesInvestment in dependent companies (non-insurance)$117,341,176586,732,9941,597,1031,348,094362,865,3955,915,125$1,075,799,887Cash on Current Account and in handMortgage LoansPolicy LoansOther LoansOutstanding PremiumsInterest, dividends and rents accruing but not dueSundry DebtorsFixed AssetsTOTAL ASSETSInsurance FundsClaims admitted or intimated but not paidAmount due to ReinsurersBank Loans and OverdraftsDeposits re policiesUnpaid Policyholders dividendsOther LiabilitiesNET LIABILITIESPaid-up Share CapitalNon-Admissible Assets AdjustmentUnrealised Revaluation ReservesRetained AccountOtherTOTAL LIABILITIES28,922,0912,817,24188,840,6893,066,96631,190,37617,133,61796,078,518105,731,0551,449,580,440LIABILITIES $$998,376,62343,121,03234,468,3838,178,3376,611,41917,371,23653,258,3911,161,385,42112,000,000(8,420,806)5,870,934226,170,55552,574,3371,449,580,440REPORT ON INSURANCE AND PENSIONS 77


APPENDIX ADirectors:Secretary:Auditors:Actuary:BANCASSURANCE CARIBBEAN LIMITEDINCORPORATED – 1977D. CAMACHO; A. ARCHERFE LOPEZ-COLLYMOREPRICE WATERHOUSECOOPERSM. BOSLANDCountries other than Trinidad and Tobago in which the Company writes business: NILSummary of Balance Sheet in respect of Trinidad and TobagoBusiness as at 31st December, 2006assets $ $Investments:Fixed Deposits with BankFixed Deposits with Other Financial InstitutionsSecurities guaranteed by the Gov’t of T&TOther Caricom Government SecuritiesOrdinary shares in T&T CompaniesOrdinary shares in non-T&T CompaniesBonds and Debentures in T&T CompaniesBonds and Debentures in non-T&T CompaniesOther Investments5,793,860349,61016,913,4637,112,253168,180,9726,257,9324,160,8376,245,10831,050215,045,085Cash on Current Account and in handMortgage LoansPolicy LoansPolicy Loan Interest AccruedAmounts due from PolicyholdersInterest, dividends and rents accruing but not dueSundry DebtorsFixed AssetsOther AssetsTOTAL ASSE TS713,583676,81714,366,636704,125228,7212,165,34718,541,68427,501,777100,540,441380,484,216liabilities $ $Insurance FundsInsurance FundsClaims admitted or intimated but not paidPremiums paid in advanceBank Loans and OverdraftsDeposits re policiesOther LiabilitiesNET LIABILITIESPaid-up Share CapitalShare Premium AccountNon- Admissible Assets AdjustmentOtherTOTAL LIABILITIES199,306,1237,068,30373,834149,83421,636,35956,673,143284,907,5964,940,3344,222,736(45,049,501)131,463,050380,484,21678REPORT ON INSURANCE AND PENSIONS


SUMMARY OF BALANCE SHEETS OF INCORPORATED COMPANIESBANKERS INSURANCE COMPANY LIMITEDINCORPORATED - 1976Directors: J. ALI; S. P. RAMQUAR; J. LALL; R. BACHAN; RODRIGUEZ AMAR; G. RAMNATH; ANDY JACKSecretary: R. BACHANAuditors: CHANKA SEETERAM & CO.Countries other than Trinidad and Tobago in which the Company writes business: NILSummary of Balance Sheet in respect of Trinidad and TobagoBusiness as at 31st March, 2006assets $ $Investments:Securities guaranteed by the Gov’t of T&TOrdinary shares in T&T CompaniesBonds and Debentures in T&T CompaniesOther InvestmentsCash on Current Account and in handOutstanding PremiumsAmounts due from other Insurance CompaniesInterest, dividends and rents outstandingSundry DebtorsFixed AssetsOther AssetsTOTAL ASSETS3,030,00033,9714,250,000694,8968,008,8678,490,5586,709,7372,779,935200,813(4,343)9,083,9301,617,69136,887,188liabilities $ $Insurance FundsClaims admitted or intimated but not paidClaims Equalisation ReserveAmount due to ReinsurersBank Loans and OverdraftsOther Liabilities10,939,91812,820,2561,282,0264,716,968112,8606,024,098NET LIABILITIESPaid-up Share CapitalRetained AccountOtherTOTAL LIABILITIES35,896,1266,890,002(9,618,085)3,719,14236,887,188REPORT ON INSURANCE AND PENSIONS 79


APPENDIX ADirectors:Secretary:Auditors:Actuary:BRITISH-AMERICAN INSURANCE COMPANY (TRINIDAD) LIMITEDINCORPORATED - 1977L. DUPREY; B. BRANKER; R. FULLERTON; R. RAMNARINE; V. RAMLOGANK. SOODEENPRICEWATERHOUSECOOPERSTRIANGLE ACTUARIAL SERVICES, R LEISER-BANKSCountries other than Trinidad and Tobago in which the Company writes business: NILSummary of Balance Sheet in respect of Trinidad and Tobagobusiness as at 31st December, 2006assets $ $Investments:Fixed Deposits with BankFixed Deposits with Other Financial InstitutionsTrinidad and Tobago Government SecuritiesSecurities guaranteed by the Gov’t of T&TOther Caricom Government SecuritiesOrdinary shares in T&T CompaniesBonds and Debentures in T&T Companies28,407,60042,748,5413,500,07310,923,75249,409,052166,619,9056,103,990307,712,913Cash on Current Account and in handMortgage LoansPolicy LoansOther LoansAmounts due from PolicyholdersInterest, dividends and rents accruing but not dueSundry DebtorsFixed AssetsTOTAL ASSETS8,440,48951,890,25623,680,8702,104,5961,089,3409,701,88874,850,545116,806,799596,277,696liabilities $ $Insurance FundsClaims admitted or intimated but not paidClaims Equalisation ReservePremiums paid in advancePremiums paid in advanceOther Liabilities535,395,7334,146,7400121,440414,1205,474,384NET LIABILITIESPaid-up Share CapitalNon- Admissible Assets AdjustmentRetained AccountOtherTOTAL LIABILITIES545,552,41717,869,5546,376,59325,644,013835,119596,277,69680REPORT ON INSURANCE AND PENSIONS


SUMMARY OF BALANCE SHEETS OF INCORPORATED COMPANIESCAPITAL INSURANCE LIMITEDINCORPORATED - 1968Directors: Y. ALI; S. ALI; V. BELLAMY; F. ALI-KANGALOOSecretary: F. NANANAuditors: MADAN RAMNARINE & COMPANYCountries other than Trinidad and Tobago in which the Company writes business: AntiguaSummary of Balance Sheet in respect of Trinidad and Tobagobusiness as at 31st December, 2006assets $ $Investments:Fixed Deposits with BankFixed Deposits with Other Financial InstitutionsSecurities guaranteed by the Gov’t of T&TOrdinary shares in T&T CompaniesBonds and Debentures in T&T CompaniesInvestment in dependent companies (non-insurance)2,574,3571,050,0003,602,30021,398,11246,094,5555,050,00079,769,324Cash on Current Account and in handAmounts due from Agents and sub-agentsAmounts due from PolicyholdersAmounts due from other Insurance CompaniesInterest, dividends and rents accruing but not dueSundry DebtorsFixed AssetsOther AssetsTOTAL ASSETS1,745,022954,138141,619735,0001,028,540869,9259,781,72639,732,577134,757,871liabilities 35,395,154 $ $Insurance FundsClaims admitted or intimated but not paidOutstanding CommissionsAmount due to ReinsurersBank Loans and OverdraftsOther Liabilities31,436,35932,407,38166,142592,9001,717,1864,666,624NET LIABILITIESPaid-up Share CapitalUnrealised Revaluation ReservesRetained AccountOtherTOTAL LIABILITIES70,886,5929,750,00011,264,29030,496,84912,360,140134,757,871REPORT ON INSURANCE AND PENSIONS 81


APPENDIX ACARIBBEAN INSURANCE COMPANY LIMITEDINCORPORATED – 1970Directors:Secretary:Auditors:Actuary:J. SELLIER; J. HADEED; P. ABOUD; C. HADEEDD. GONZALEZR. RAMLAKHAN & COMPANYAPEX CONSULTING LIMITEDCountries other than Trinidad and Tobago in which the Company writes Business: NilSummary of Balance Sheet in respect of Trinidad and TobagoBusiness as at 30th June, 2006assets $ $Investments:Fixed DepositsOrdinary shares in T&T CompaniesOrdinary shares in non-T&T Companies350,000294,530965,3051,609,835Cash on Current Account and in handSundry DebtorsFixed AssetsOther AssetsTOTAL ASSETS5,370163,5397,409,92218,272,68427,461,350liabilities $ $Other Liabilities2,163,907NET LIABILITIESPaid-up Share CapitalUnrealised Revaluation ReservesRetained AccountsTOTAL LIABILITIES2,163,90720,000,0003,403,9901,893,45327,461,35082REPORT ON INSURANCE AND PENSIONS


SUMMARY OF BALANCE SHEETS OF INCORPORATED COMPANIESCARIBBEAN ATLANTIC LIFE INSURANCE COMPANY (TRINIDAD AND TOBAGO) LIMITEDINCORPORATED - 1977Directors: Not AvailableSecretary: Not AvailableAuditors: Not AvailableActuary:Not AvailableCountries other than Trinidad and Tobago in which the Company writes Business: Not AvailableSummary of Balance Sheet in respect of Trinidad and TobagoBusiness as at 31st December 2006assets $ $Investments:Trinidad and Tobago Government SecuritiesOrdinary shares in T&T CompaniesBonds and Debentures in T&T Companies100,00048,4624,207,5384,356,000Cash on Current Account and in handMortgage LoansPolicy LoansPolicy Loan Interest AccruedAmounts due from PolicyholdersInterest, dividends and rents accruing but not dueSundry DebtorsOther AssetsTOTAL ASSETS221,9913,189803,96150,0867,745110,52626,84911,158,26816,738,615liabilities $ $Insurance FundsClaims admitted or intimated but not paidPremiums paid in advanceOther Liabilities13,299,563162,8362,5493,273,667NET LIABILITIES16,738,615TOTAL LIABILITIES16,738,615REPORT ON INSURANCE AND PENSIONS 83


APPENDIX ACOLONIAL FIRE AND GENERAL INSURANCE COMPANY LIMITEDINCORPORATED - 1955Directors: R. Ng CHOW; A. THOMAS; W.P. HARRIS; H. GOON LUN; R.A. MAYERS; F.T. PREVATTSecretary: N. REISAuditors: PRICEWATERHOUSECOOPERSCountries other than Trinidad and Tobago in which the Company writes business: Turks & CaicosSummary of Balance Sheet in respect of Trinidad and TobagoBusiness as at 31st December, 2006assets $ $Investments:Fixed Deposits with Other Financial InstitutionsTrinidad and Tobago Government SecuritiesOther Caricom Government SecuritiesOrdinary shares in T&T CompaniesOrdinary shares in non-T&T CompaniesBonds and Debentures in T&T CompaniesInvestment in dependent companies (non-insurance)Other Investments5,292,25530,761,087840,75716,865,3439,113,35740,150,0084,619,1004,600,000112,241,907Cash on Current Account and in handAmounts due from Agents and sub-agentsAmounts due from BrokersAmounts due from PolicyholdersAmounts due from other Insurance CompaniesInterest, dividends and rents accruing but not dueSundry DebtorsFixed AssetsOther Assets16,839,7841,444,76518,828,8912,039,61420,6111,387,32015,294,37321,320,39916,613,401TOTAL ASSETS206,031,065liabilities $ $Insurance FundsClaims admitted or intimated but not paidOutstanding CommissionsAmount due to ReinsurersBank Loans and OverdraftsOther Liabilities55,947,64025,611,6892,074,53624,367,894909,36740,231,101NET LIABILITIESPaid-up Share CapitalNon- Admissible Assets AdjustmentRetained AccountOtherTOTAL LIABILITIES149,142,22715,751,034(7,501,271)21,120,22227,518,853206,031,06584REPORT ON INSURANCE AND PENSIONS


SUMMARY OF BALANCE SHEETS OF INCORPORATED COMPANIESDirectors:Secretary: N. PATRICKAuditors:Actuary:COLONIAL LIFE INSURANCE COMPANY (TRINIDAD) LIMITEDINCORPORATED – 1936L. A. DUPREY; K. GARDIER; I. GARCIA; H. C. CHARLES; G. DZIAYK; S. DEONARINE; V. NAIPAULPRICEWATERHOUSECOOPERSPRESCIENCE INSURANCE CONSULTANTS & ACTUARIESCountries other than Trinidad and Tobago in which the Company writes business: Cayman IslandsSummary of Balance Sheet in respect of Trinidad and TobagoBusiness as at 31st December, 2006assets $ $Investments:Fixed Deposits with BankFixed Deposits with Other Financial InstitutionsTrinidad and Tobago Government SecuritiesUK Government SecuritiesOrdinary shares in T&T CompaniesOrdinary shares in non-T&T CompaniesPreference shares in T&T CompaniesPreference shares in non-T&T CompaniesBonds and Debentures in T&T CompaniesBonds and Debentures in non-T&T CompaniesCash on Current Account and in handMortgage LoansPolicy LoansAmounts due from BrokersAmounts due from other Insurance CompaniesInterest, dividends and rents accruing but not dueSundry DebtorsFixed AssetsOther AssetsTOTAL ASSETS3,831,077,62035,933,085564,993,6808,067,2556,635,479,448725,614,34234,74051,200,642645,827,069157,614,685liabilities $ $12,655,842,566176,846,19877,381,15686,660,775(886,751)2,200,850227,966,114449,229,953716,687,379444,436,13614,836,364,376Insurance FundsPremiums paid in advanceOutstanding CommissionsAmount due to ReinsurersBank Loans and OverdraftsAnnuities due and unpaidOther Liabilities9,751,251,41627,015,89214,569,7674,559,851882,653,83316,699,3253,110,492,386NET LIABILITIESPaid-up Share CapitalNon- Admissible Assets AdjustmentUnrealised Revaluation ReservesRetained AccountOtherTOTAL LIABILITIES13,807,242,4707,500,000(3,981,093,579)4,619,865,674319,481,58363,368,22814,836,364,376REPORT ON INSURANCE AND PENSIONS 85


SUMMARY OF BALANCE SHEETS OF INCORPORATED COMPANIESEXPORT-IMPORT BANK OF TRINIDAD AND TOBAGO LIMITEDINCORPORATED – 1973Directors:Secretary:Auditors:C. BENN; A V. HENRY; A. CATO; A. HADEED; L.LEQUAY; R. ABASALIG. LAUGHLIN; K. PARKERJ.A. IBLEPANNELL KERR FOSTERCountries other than Trinidad and Tobago in which the Company writes business: Barbados, St. Lucia,Guyana, Grenada, St. Vincent, Jamaica, AntiguaSummary of Balance Sheet in respect ofTrinidad and Tobago Business as at 31st december, 2006assets $ $Investments:Fixed Deposits with Other Financial InstitutionsSecurities guaranteed by the Gov’t of T&TBonds and Debentures in T&T Companies6,534,550212,8451,000,0007,747,395Cash on Current Account and in handInterest, dividends and rents outstandingSundry DebtorsFixed AssetsOther AssetsTOTAL ASSETS3,407,441527,659172,126,3354,093,2591,445,807189,347,896liabilities $ $Insurance FundsBank Loans and OverdraftsOther Liabilities122,879605,161178,851,679NET LIABILITIESPaid-up Share CapitalRetained AccountOtherTOTAL LIABILITIES179,579,71912,234,000(3,552,796)1,086,973189,347,896REPORT ON INSURANCE AND PENSIONS 87


APPENDIX ADirectors:Secretary:Auditors:FURNESS ANCHORAGE GENERAL INSURANCE LIMITEDINCORPORATED – 1979D. M RAJPAULSINGH; W. A. FERREIRA; J. G. FERREIRA;P. A. FERREIRA; J. MARTIN, R. OTWAYP. A. FERREIRAPRICEWATERHOUSE COOPERSCountries other than Trinidad and Tobago in which the Company writes business: NILSummary of Balance Sheet in respect of Trinidad and TobagoBusiness as at 31st December, 2006assets $ $Investments:Fixed Deposits with Other Financial InstitutionsTrinidad and Tobago Government SecuritiesOrdinary shares in T&T CompaniesBonds and Debentures in T&T Companies6,101,6331,523,997223,373717,0638,566,066Cash on Current Account and in handAmounts due from BrokersAmounts due from PolicyholdersAmounts due from other Insurance CompaniesInterest, dividends and rents accruing but not dueInterest, dividends and rents outstandingSundry DebtorsFixed AssetsTOTAL ASSETS1,798,9662,380,9399,89032,06649,968-2,932137,31812,978,145liabilities $ $Insurance FundsClaims admitted or intimated but not paidAmount due to ReinsurersOther Liabilities2,622,913633,7071,768,194878,078NET LIABILITIESPaid-up Share CapitalNon- Admissible Assets AdjustmentUnrealised Revaluation ReservesRetained AccountOtherTOTAL LIABILITIES5,902,8923,300,000(88,769)332,8412,178,2771,352,90312,978,14588REPORT ON INSURANCE AND PENSIONS


SUMMARY OF BALANCE SHEETS OF INCORPORATED COMPANIESG.T.M. FIRE INSURANCE COMPANY LIMITEDINCORPORATED – 1977Directors: L. SUMADH; V. RAMLOGAN; D. RAMLAL; L. DHANOOSecretary: L. LOPEZAuditors: L DE NOBRIGA & COMPANYCountries other than Trinidad and Tobago in which the Company writes business: NILSummary of Balance Sheet in respect of Trinidad and Tobagobusiness as at 31st December, 2006assets $ $Investments:Fixed Deposits with Other Financial InstitutionsTrinidad and Tobago Government SecuritiesOrdinary shares in T&T CompaniesOrdinary shares in non-T&T CompaniesBonds and Debentures in T&T CompaniesInvestment in dependent companies (non-insurance)Other Investments3,300,0003,329,967589,240143,8915,236,7892,127,7471,255,56115,983,195Cash on Current Account and in handAmounts due from Agents and sub-agentsAmounts due from BrokersAmounts due from other Insurance CompaniesInterest, dividends and rents accruing but not dueSundry DebtorsFixed AssetsTOTAL ASSETS2,166,546843,1204,927,6171,674,085408,613634,46914,975,93641,613,581liabilities $ $Insurance FundsClaims admitted or intimated but not paidClaims Equalisation ReserveAmount due to ReinsurersBank Loans and OverdraftsOther LiabilitiesNET LIABILITIESPaid-up Share CapitalNon- Admissible Assets AdjustmentUnrealised Revaluation ReservesRetained AccountOtherTOTAL LIABILITIES14,993,6115,974,2701,196,0693,866,0235,586,6151,674,80333,291,3915,135,176(45,147,994)7,122,93834,123,5937,088,47741,613,581REPORT ON INSURANCE AND PENSIONS 89


APPENDIX ADirectors:Secretary:Auditors:GUARDIAN GENERAL INSURANCE LIMITEDINCORPORATED - 1973S. WILSON; I. AHAMAD; R. ESPINET; R.W. O’BRIEN; N. LOK JACK; A. LANCASTER;DAWN SEEPERSADPRICEWATERHOUSECOOPERSCountries other than Trinidad and Tobago in which the Company writes Business: Barbados; GrenadaSummary of Balance Sheet in respect of Trinidad and Tobagobusiness as at 31st December, 2006assets $ $Investments:Fixed Deposits with BankFixed Deposits with Other Financial InstitutionsTrinidad and Tobago Government SecuritiesSecurities guaranteed by the Gov’t of T&TOther Caricom Government SecuritiesOrdinary shares in T&T CompaniesBonds and Debentures in T&T CompaniesBonds and Debentures in non-T&T CompaniesInvestment in dependent companies (insurance)Other Investments29,271,084108,19222,246,10854,861,15510,691,51428,839,9709,752,9515,752,40637,036,0422,310,049200,869,471Cash on Current Account and in handAmounts due from Agents and sub-agentsAmounts due from BrokersAmounts due from PolicyholdersAmounts due from other Insurance CompaniesSundry DebtorsTOTAL ASSETS42,016,0487,101,72222,184,166863,535161,206100,590,546373,786,694liabilities $ $Insurance FundsClaims admitted or intimated but not paidAmount due to ReinsurersBank Loans and OverdraftsOther Liabilities81,760,553135,150,89046,960,898255,71029,212,728NET LIABILITIESPaid-up Share CapitalNon- Admissible Assets AdjustmentRetained AccountOtherTOTAL LIABILITIES293,340,7791,195,780,006(1,226,465,041)70,507,92840,623,023373,786,69490REPORT ON INSURANCE AND PENSIONS


SUMMARY OF BALANCE SHEETS OF INCORPORATED COMPANIESGUARDIAN LIFE OF THE CARIBBEAN LIMITEDINCORPORATED- 1981Directors: N. LOK JACK; R. O’BRIEN; R. TEWARI; S. WILSON; S. AHAMADSecretary: K. ABDULLAAuditors: PRICEWATERHOUSECOOPERSActuary: M. BOSLANDCountries other than Trinidad and Tobago in which the Company writes business: St Vincent & The GrenadinesSummary of Balance Sheet in respect of Trinidad and Tobagobusiness as at 31st December, 2006assets $ $Investments:Fixed Deposits with BankFixed Deposits with Other Financial InstitutionsTrinidad and Tobago Government SecuritiesSecurities guaranteed by the Gov’t of T&TOther Caricom Government SecuritiesOrdinary shares in T&T CompaniesOrdinary shares in non-T&T CompaniesPreference shares in T&T CompaniesBonds and Debentures in T&T CompaniesBonds and Debentures in non-T&T CompaniesOther Investments128,823,336403,402,85315,217,54677,702,095178,885,9531,463,068,528273,310,15036,770,577194,647,611148,828,6753,800,8502,924,458,174Cash on Current Account and in handMortgage LoansPolicy LoansPolicy Loan Interest AccruedOther LoansAmounts due from PolicyholdersAmounts due from other Insurance CompaniesInterest, dividends and rents outstandingSundry DebtorsFixed AssetsOther AssetsTOTAL ASSETS15,676,474136,847,93820,044,152927,3979,081,20648,607,69237,693,76031,027,993268,089,486459,536,16939,493,4583,991,483,899liabilities 3,823,030,282 $ $Insurance FundsClaims admitted or intimated but not paidPremiums paid in advanceOutstanding CommissionsAmount due to ReinsurersDeposits re policiesAccrued interest on policiesOther Liabilities3,339,929,82277,359,170837,91517,146,0525,169,64926,664,8724,755,873237,238,240NET LIABILITIESPaid-up Share CapitalNon-Admissible Assets AdjustmentUnrealised Revaluation ReservesRetained AccountOtherTOTAL LIABILITIES3,709,101,59353,349,005(32,456,472)18,512,80225,688,647217,288,3243,991,483,899REPORT ON INSURANCE AND PENSIONS 91


APPENDIX AGULF INSURANCE LIMITEDINCORPORATED - 1974Directors: G. LEE-INNISS; E. COLLIER; C. JONES; M. POON TIP; M. SINGH; J. DALGLEISH; P. BUXOSecretary: LEON WILLIAMSAuditors: KPMG CHARTERED ACCOUNTANTSCountries other than Trinidad and Tobago in which the Company writes business: Anguilla, British Virgin Islands,Dominica, Grenada, St. Kitts and Nevis, St. Lucia, St Maarten, US Virgin Islands, Turks & Caicos, Cayman IslandsSummary of Balance Sheet in respect of Trinidad and TobagoBusiness as at 31st March, 2006assets $ $Investments:Fixed Deposits with BankFixed Deposits with Other Financial InstitutionsTrinidad and Tobago Government SecuritiesSecurities guaranteed by the Gov’t of T&TOrdinary shares in T&T CompaniesOrdinary shares in non-T&T CompaniesInvestment in dependent companies (insurance)Investment in dependent companies (non-insurance)708,2354,600,0005,100,000815,00012,903,2014,404,5221,153,71118,880,28148,564,950Cash on Current Account and in handAmounts due from Agents and sub-agentsAmounts due from BrokersAmounts due from PolicyholdersAmounts due from other Insurance CompaniesFixed AssetsOther AssetsTOTAL ASSETS7,415,2441,234,0693,085,1731,851,1041,364,91120,143,278(35,592,876)48,065,853liabilities $ $Insurance FundsClaims admitted or intimated but not paidAmount due to ReinsurersOther Liabilities7,590,17710,594,698(33,149,770)5,533,422NET LIABILITIESPaid-up Share CapitalRetained AccountOtherTOTAL LIABILITIES(9,431,473)13,500,00019,571,36424,425,96248,065,85392REPORT ON INSURANCE AND PENSIONS


SUMMARY OF BALANCE SHEETS OF INCORPORATED COMPANIESDirectors:Secretary:Auditors:MARITIME GENERAL INSURANCE COMPANY LIMITEDINCORPORATED - 1978J.H. SMITH; J. SOHUN; O. CAMPSTHE MARITIME FINANCIAL GROUP LIMITEDPANNELL KERR FORSTERCompanies other than Trinidad and Tobago in which the Company writes business: NILSummary of Balance Sheet in respect of Trinidad and TobagoBusiness as at 31st December, 2006assets $ $Investments:Fixed Deposits with BankFixed Deposits with Other Financial InstitutionsSecurities guaranteed by the Gov’t of T&TOrdinary shares in T&T CompaniesBonds and Debentures in T&T CompaniesCash on Current Account and in handSundry DebtorsFixed AssetsOther AssetsTOTAL ASSETS47,701,95264,893,96924,636,3093,557,71337,640,855178,430,7984,897,94716,485,0031,140,0162,107,009203,060,773liabilities $ $Insurance FundsClaims admitted or intimated but not paidOutstanding CommissionsAmount due to ReinsurersBank Loans and OverdraftsOther Liabilities34,826,32751,126,9591,668,25011,931,2541,321,98618,732,425NET LIABILITIESPaid-up Share CapitalRetained AccountOtherTOTAL LIABILITIES119,607,2014,965,00050,982,86027,505,713203,060,773REPORT ON INSURANCE AND PENSIONS 93


APPENDIX ADirectors:Secretary:Auditors:Actuary:MARITIME LIFE (CARIBBEAN) LIMITEDINCORPORATED - 1971J.H. SMITH; J. SOHUN; L. ALFONSO; T. TANGTHE MARITIME FINANCIAL GROUP LIMITEDPANNELL KERR FORSTERM. CHONG TAI-BELLCountries other than Trinidad and Tobago in which the Company writes business: NILSummary of Balance Sheet in respect of Trinidad and TobagoBusiness as at 31st December, 2006assets $ $Investments:Fixed Deposits with BankFixed Deposits with Other Financial InstitutionsTrinidad and Tobago Government SecuritiesSecurities guaranteed by the Gov’t of T&TOrdinary shares in T&T CompaniesPreference shares in T&T CompaniesBonds and Debentures in T&T CompaniesInvestment in dependent companies (insurance)Investment in dependent companies (non-insurance)171,237,23461,287,789185,559,19111,605,00071,043,3569,81755,761,50024,848,30065,939,023Cash on Current Account and in handMortgage LoansPolicy LoansAmounts due from PolicyholdersAmounts due from other Insurance CompaniesInterest, dividends and rents outstandingSundry DebtorsFixed AssetsTOTAL ASSETS647,291,210232,23051,804,21946,682,35312,621,5656,699,7916,064,13517,611,327220,881,8771,009,888,707liabilities $ $Insurance FundsPremiums paid in advanceAmount due to ReinsurersBank Loans and OverdraftsProvisions for unreported claimsUnpaid Policyholders dividendsOther Liabilities818,858,554133,9841,423,8615,737,3109,745,2027,009,56939,879,498NET LIABILITIESPaid-up Share CapitalShare Premium AccountRetained AccountOtherTOTAL LIABILITIES882,787,97810,871,3875,712,34126,796,21483,720,7871,009,888,70794REPORT ON INSURANCE AND PENSIONS


SUMMARY OF BALANCE SHEETS OF INCORPORATED COMPANIESMEGA INSURANCE COMPANY LIMITEDINCORPORATED - 1980Directors: W. WINCHESTER; B. DOYLE; E. CHEONG; I. BEHARRY; K. CHOLMONDELEY;C. GILL; P. GILLETTE; K. ISAACS; H. RUSSELL; A. TOMYEWSecretary: P. ALEONGAuditors: PRICEWATERHOUSECOOPERSActuary: PRESCIENCE INSURANCE CONSULTING AND ACTUARIES INC.Countries other than Trinidad and Tobago in which the Company writes business: NILSummary of Balance Sheet in respect of Trinidad and TobagoBusiness as at 31st December, 2006assets $ $Investments:Fixed Deposits with BankTrinidad and Tobago Government SecuritiesOrdinary shares in T&T CompaniesBonds and Debentures in T&T CompaniesInvestment in dependent companies (insurance)Cash on Current Account and in handMortgage LoansPolicy LoansPolicy Loan Interest AccruedAmounts due from PolicyholdersAmounts due from other Insurance CompaniesInterest, dividends and rents outstandingSundry DebtorsFixed AssetsOther AssetsTOTAL ASSETS33,472,06511,407,82219,507,08520,043,7964,337,89188,768,6593,206,0201,916,2147,174,612372,57995,1564,158,388682,4321,932,79955,529,9009,678,900173,515,659liabilities $ $Insurance FundsClaims admitted or intimated but not paidPremiums paid in advanceOutstanding CommissionsAmount due to ReinsurersDeposits re policiesOther Liabilities139,857,9923,781,11699,060137,363804,528385,3935,920,102NET LIABILITIESPaid-up Share CapitalNon- Admissible Assets AdjustmentRetained AccountOtherTOTAL LIABILITIES150,985,55436,465,357(13,457,045)(38,613,257)38,135,050173,515,659REPORT ON INSURANCE AND PENSIONS 95


APPENDIX AMOTOR AND GENERAL INSURANCE COMPANY LIMITEDINCORPORATED - 1959Directors: K. SANOWAR; I. INNISS, W. MURRAYSecretary: I. INNISSAuditors: BOB GOPEE AND ASSOCIATESCountries other than Trinidad and Tobago in which the Company writes business: Grand Cayman,Cayman Island’s B.W.I.Summary of Balance Sheet in respect of Trinidad and TobagoBusiness as at 31st December, 2006assets $ $Investments:Fixed Deposits with BankTrinidad and Tobago Government SecuritiesOrdinary shares in T&T Companies7,182,3015,843,3739,932,27922,957,953Sundry DebtorsFixed AssetsTOTAL ASSETS929,95537,895,00661,782,914liabilities $ $Insurance FundsClaims admitted or intimated but not paidBank Loans and OverdraftsOther LiabilitiesNET LIABILITIESPaid-up Share CapitalUnrealised Revaluation ReservesRetained AccountOtherTOTAL LIABILITIES6,953,31714,316,8013,300,62812,386,91036,957,65613,374,8807,415,601(22,142,234)26,177,01361,782,91496REPORT ON INSURANCE AND PENSIONS


SUMMARY OF BALANCE SHEETS OF INCORPORATED COMPANIESMOTOR ONE INSURANCE COMPANY LIMITEDINCORPORATED - 1976Directors: D. RAMLAL; S. RAMDATH; V. RAMLOGAN; L. AYOUNG; L. DHANOOSecretary: S. DHANOOAuditors: L. De NOBRIGA & COMPANYCountries other than Trinidad and Tobago in which the Company writes business: NILSummary of Balance Sheet in respect of Trinidad and TobagoBusiness as at 31st December, 2006assets $ $Investments:Fixed Deposits with BankTrinidad and Tobago Government SecuritiesSecurities guaranteed by the Gov’t of T&TOther Foreign Government SecuritiesOrdinary shares in non-T&T CompaniesInvestment in dependent companies (non-insurance)335,8355,116,5001,549,2264,485,000283,7622,411,69514,182,018Cash on Current Account and in handPolicy Loan Interest AccruedAmounts due from Agents and sub-agentsInterest, dividends and rents accruing but not dueSundry DebtorsFixed AssetsOther AssetsTOTAL ASSETS1,877,8111,877,032807,999156,596623,7019,879,09862,96029,467,215liabilities $ $Insurance FundsClaims admitted or intimated but not paidAmount due to ReinsurersBank Loans and OverdraftsOther Liabilities10,936,8272,352,2651,712,4202,831,863655,848NET LIABILITIESPaid-up Share CapitalUnrealised Revaluation ReservesRetained AccountOtherTOTAL LIABILITIES18,489,2234,509,2001,253,1871,054,6384,160,96729,467,215REPORT ON INSURANCE AND PENSIONS 97


APPENDIX ANATIONWIDE INSURANCE COMPANY LIMITEDINCORPORATED - 1973Directors: P. DOWNES-GRANT; R. TRESTRAIL; J. A. BETHELL; T. MARTINS; A. ALEONGSecretary: C. PASEAAuditors: PRICEWATERHOUSECOOPERSActuary: S. GOULETCountries other than Trinidad and Tobago in which the company writes business: NILSummary of Balance Sheet in respect of Trinidad and Tobagobusiness as at 31st December, 2006assets $ $Investments:Fixed Deposits with BankFixed Deposits with Other Financial InstitutionsTrinidad and Tobago Government SecuritiesSecurities guaranteed by the Gov’t of T&TOther Foreign Government SecuritiesOrdinary shares in T&T Companies3,072,349130,88412,665,8907,006,8927,174,60513,390,691Cash on Current Account and in handMortgage LoansPolicy LoansPolicy Loan Interest AccruedAmounts due from PolicyholdersAmounts due from other Insurance CompaniesInterest, dividends and rents accruing but not dueInterest, dividends and rents outstandingSundry DebtorsFixed AssetsTOTAL ASSETS43,441,31111,768,614570,6835,392,145276,48839,314861,831323,613645,60123,7947,287,53770,630,931liabilities $ $Insurance FundsClaims admitted or intimated but not paidOutstanding CommissionsAmount due to ReinsurersDeposits re policiesOther LiabilitiesNET LIABILITIESPaid-up Share CapitalShare Premium AccountUnrealised Revaluation ReservesRetained AccountTOTAL LIABILITIES42,959,1721,241,25060,491914,802198,3619,412,39654,786,4723,394,58744,8617,921,1994,483,81270,630,93198REPORT ON INSURANCE AND PENSIONS


SUMMARY OF BALANCE SHEETS OF INCORPORATED COMPANIESN.E.M (WEST INDIES) INSURANCE LIMITEDINCORPORATED – 1960Directors: A. LANCASTER; N. LOK JACK; S. WILSON; I. AHAMAD;R. ESPINET; R. W. O’BRIENSecretary: DAWN SEEPERSADAuditors: PRICEWATERHOUSECOOPERSCountries other than Trinidad and Tobago in which the company writes business Anguilla, Antigua, Bahamas,Barbados, Belize, British Virgin Islands, Cayman Islands, Montserrat, St Kitts & Nevis, St. Lucia, St. Vincent &The Grenadines, US Virgin IslandsSummary of Balance Sheet in respect of Trinidad and Tobagobusiness as at 31st December, 2006assets $ $Investments:Fixed Deposits with BankSecurities guaranteed by the Gov’t of T&TOther Caricom Government SecuritiesOrdinary shares in T&T CompaniesBonds and Debentures in T&T CompaniesInvestment in dependent companies (insurance)Other InvestmentsCash on Current Account and in handOther LoansAmounts due from Agents and sub-agentsInterest, dividends and rents accruing but not dueSundry DebtorsTOTAL ASSETS22,127,909622,6004,299,6341,334,899339,35421,585,15227,628,60077,938,14816,049,8684,480,764(4,762,403)3,441,00151,046,017148,193,395liabilities $ $Insurance FundsAmount due to ReinsurersOther Liabilities27,53826,658,336(11,880,601)NET LIABILITIESPaid-up Share CapitalNon-Admissible Assets AdjustmentRetained AccountOtherTOTAL LIABILITIES14,805,27337,758,352(20,440,737)100,851,17415,219,332148,193,395REPORT ON INSURANCE AND PENSIONS 99


APPENDIX ATHE REINSURANCE COMPANY OF TRINIDAD AND TOBAGO LIMITEDINCORPORATED - 1975Directors: R. LAKHAN–NARACE; D. LALOR; P. LALOR; D. MITCHELL; F. AL RAWI; R. TIM KEE; D. O’BRIENSecretary: A. WEST SMITHAuditors: HYACINTH SIMMSActuary: NILCountries other than Trinidad and Tobago in which the company writes business: NILSummary of Balance Sheet in respect of Trinidad and Tobagobusiness as at 31st December, 2006assets $ $Investments:Trinidad and Tobago Government SecuritiesOther Foreign Government SecuritiesOrdinary shares in T&T CompaniesOrdinary shares in non-T&T CompaniesBonds and Debentures in T&T Companies2,301,4516,407,2674,381,9104,309,6751,500,00018,900,303Cash on Current Account and in handAmounts due from BrokersAmounts due from other Insurance CompaniesSundry DebtorsFixed AssetsOther AssetsTOTAL ASSETS4,494,2244,880,9115,283,06373,1011,420,7043,384,46138,436,767liabilities $ $Insurance FundsClaims admitted or intimated but not paidAmount due to ReinsurersOther Liabilities11,203,44113,038,9524,357,8485,587,109NET LIABILITIESPaid-up Share CapitalShare Premium AccountNon- Admissible Assets AdjustmentRetained AccountOtherTOTAL LIABILITIES34,187,35020,333,3331,929,166(11,997,035)(8,152,506)2,136,45938,436,767100REPORT ON INSURANCE AND PENSIONS


SUMMARY OF BALANCE SHEETS OF INCORPORATED COMPANIESROYAL CARIBBEAN INSURANCE LIMITEDINCORPORATED – 1976Directors: R. ESPINET; FE LOPEZ-COLLYMORESecretary: FE LOPEZ-COLLYMORE; KAREN KELSHALL LEEAuditors: PRICEWATERHOUSECOOPERSCountries other than Trinidad and Tobago in which the company writes business: NILSummary of Balance Sheet in respect of Trinidad and Tobagobusiness as at 31st December, 2006assets $ $Investments:Trinidad and Tobago Government SecuritiesOrdinary shares in T&T CompaniesBonds and Debentures in non-T&T Companies2,129,592199,6421,717,1474,046,381Cash on Current Account and in handInterest, dividends and rents accruing but not dueSundry DebtorsTOTAL ASSETS127,563111,19214,698,69618,983,832liabilities $ $Insurance FundsClaims admitted or intimated but not paidAmount due to ReinsurersOther Liabilities-4,424,4311,408,8264,429NET LIABILITIESPaid-up Share CapitalNon-Admissible Assets AdjustmentRetained AccountOtherTOTAL LIABILITIES5,837,6863,000,000(399,618)6,830,4743,715,28918,983,832REPORT ON INSURANCE AND PENSIONS 101


APPENDIX ADirectors:Secretary:Auditors:SAGICOR GENERAL INSURANCE INCORPORATEDINCORPORATED – 2005D. MILLER; M.J.K. PRITCHARD; I. ALLEYNE; D. DEANE; M.P. DOWNES-GRANT; A. LA FOND;A.E. THOMASA.C. HAZZARDPRICEWATERHOUSECOOPERSCountries other than Trinidad and Tobago in which the company writes business: Barbados, Cayman Islands,Dominica, St. Lucia.Summary of Balance Sheet in respect of Trinidad and Tobagobusiness as at 31st December, 2006assets $ $Investments:Fixed Deposits with BankFixed Deposits with Other Financial InstitutionsTrinidad and Tobago Government SecuritiesBonds and Debentures in T&T Companies7,780,722572,79123,759,2461,500,00033,612,759Cash on Current Account and in handAmounts due from Agents and sub-agentsAmounts due from BrokersAmounts due from PolicyholdersAmounts due from other Insurance CompaniesInterest, dividends and rents outstandingSundry DebtorsFixed AssetsTOTAL ASSETS1,098,8555,781,6839,866,9482,424,490230,9491,109,4557,639,0992,062,24663,826,484liabilities $ $Insurance FundsClaims admitted or intimated but not paidAmount due to ReinsurersOther Liabilities28,780,10324,659,1567,606,7394,268,567NET LIABILITIESNon- Admissible Assets AdjustmentTOTAL LIABILITIES65,314,565(1,488,081)63,826,484102REPORT ON INSURANCE AND PENSIONS


SUMMARY OF BALANCE SHEETS OF INCORPORATED COMPANIESSAGICOR LIFE INCORPORATEDINCORPORATED - 2002Directors: J.A. BETHELL; D.W. ALLAN; O.W. JORDAN; M. CHEVANNES-CAMPBELL; S.D.R. Mc NAMARA;T.A. MARTINS; A. ALEONG; H. Mc D BECKLES; D.D. MILLER; W.P. LUCIE-SMITH; C.D. de CAIRES;JOYCE E DEARSecretary: S. OSBORNEAuditors: PRICEWATERHOUSECOOPERSActuary: S. GOULETCountries other than Trinidad and Tobago in which the Company writes business: Anguilla, Antigua & Barbuda,Dominica, Grenada, Montserrat, St. Kitts and Nevis, St. Lucia, St. Vincent & The Grenadines, Guyana.Summary of Balance Sheet in respect of Trinidad and Tobagobusiness as at 31st December, 2006assets $ $Investments:Fixed Deposits with BankFixed Deposits with Other Financial InstitutionsTrinidad and Tobago Government SecuritiesSecurities guaranteed by the Gov’t of T&TOther Caricom Government SecuritiesOther Foreign Government SecuritiesOrdinary shares in T&T CompaniesOrdinary shares in non-T&T CompaniesPreference shares in T&T CompaniesBonds and Debentures in T&T CompaniesBonds and Debentures in non-T&T CompaniesInvestment in dependent companies (insurance)Investment in dependent companies (non-insurance)Cash on Current Account and in handMortgage LoansPolicy LoansPolicy Loan Interest AccruedOther LoansAmounts due from PolicyholdersAmounts due from other Insurance CompaniesInterest, dividends and rents accruing but not dueSundry DebtorsFixed AssetsOther AssetsTOTAL ASSETS133,689,44041,239,690157,362,981120,112,501122,957,94328,915,819179,886,96768,869,5543,472,443330,907,216119,810,1139,675,16288,529,0681,405,428,89714,041,926533,298,18922,019,957477,01732,410,6188,856,53315,539,55318,758,436215,502,484193,484,75518,848,5952,478,666,960Insurance FundsClaims admitted or intimated but not paidOutstanding CommissionsAmount due to ReinsurersBank Loans and OverdraftsUnpaid Policyholders dividendsOther LiabilitiesNET LIABILITIESliabilities $ $2,146,971,03827,116,1163,070,5506,812,0341,758,3602,772,64557,874,9712,246,375,714Non- Admissible Assets AdjustmentUnrealised Revaluation ReservesRetained AccountTOTAL LIABILITIES(2,124,820)222,700,38111,715,6852,478,666,960REPORT ON INSURANCE AND PENSIONS 103


APPENDIX ASCOTIA LIFE INSURANCE LIMTEDINCORPORATED - 2003Directors: R. YOUNG; T. FARRELL; O. ZIMMERMANSecretary: B. JAMESAuditors: KPMG CHARTERED ACCOUNTANTSActuary: RICHARD LABELLECountries other than Trinidad and Tobago in which the Company writes Business: NILSummary of Balance Sheet in respect of Trinidad and Tobagobusiness as at 31st December, 2006assets $ $Investments:Fixed Deposits with BankFixed Deposits with Other Financial InstitutionsTrinidad and Tobago Government SecuritiesSecurities guaranteed by the Gov’t of T&TOrdinary shares in T&T CompaniesBonds and Debentures in T&T Companies7,500,0008,825,59011,368,88586,253,1221,526,7716,003,849121,478,217Cash on Current Account and in handMortgage LoansAmounts due from PolicyholdersInterest, dividends and rents accruing but not dueSundry DebtorsTOTAL ASSETS6,057,43072,871,73423,7823,346,74736,661203,814,571liabilities $ $Insurance FundsClaims admitted or intimated but not paidPremiums paid in advanceDeposits re policiesOther Liabilities133,031,88086,777180,45766,4104,462,216NET LIABILITIESPaid-up Share CapitalRetained AccountTOTAL LIABILITIES137,827,74060,000,0005,986,831203,814,571104REPORT ON INSURANCE AND PENSIONS


SUMMARY OF BALANCE SHEETS OF INCORPORATED COMPANIESDirectors:Secretary:Auditors:Actuary:SUN LIFE ASSURANCE OF CANADAINCORPORATED -1952J. C. BAILLIE; G. W. CARMANY, III; J. H. CLAPPISON; D. A. GANONG; G. GIBARA;K. T. HOEG; D. W. KERR; I. F. KESNER; B. F. NADEAU; R. W. OSBOURNE; D. A. STEWART;W. V. STOUGHTONJ.M. WILSONDELOITTE & TOUCHE LLPR.W. WILSONCountries other than Trinidad and Tobago in which the Company writes business: Canada,United States, United Kingdom, Philippines, Hong Kong, Bermuda, Indonesia, India and China.Summary of Balance Sheet in respect of Trinidad and TobagoBusiness as at 31st December, 2006assets $ $Investments:Trinidad and Tobago Government Securities1,031,5001,031,500Cash on Current Account and in handPolicy LoansInterest, dividends and rents accruing but not dueTOTAL ASSETS61,960214,69228,0971,336,249liabilities $ $Insurance FundsClaims admitted or intimated but not paidDeposits re policiesOther Liabilities465,317117,431291,114462,387NET LIABILITIESTOTAL LIABILITIES1,336,2491,336,249REPORT ON INSURANCE AND PENSIONS 105


APPENDIX ATATIL LIFE ASSURANCE LIMITEDINCORPORATED - 1977Directors: ANTHONY N. SABGA; RAY A. SUMAIRSINGH; GERRY BROOKS; VICTOR HERDE; DAVID CLARKE;MICHAEL MOSESSecretary: M.MUSA IBRAHIMAuditors: ERNST AND YOUNGActuary: APEX CONSULTING LIMITEDCountries other than Trinidad and Tobago in which the Company writes business: NilSummary of Balance Sheet in respect of Trinidad and TobagoBusiness as at 31st December, 2006assets $ $Investments:Fixed Deposits with BankTrinidad and Tobago Government SecuritiesSecurities guaranteed by the Gov’t of T&TOther Caricom Government SecuritiesOrdinary shares in T&T CompaniesOrdinary shares in non-T&T CompaniesPreference shares in T&T CompaniesBonds and Debentures in T&T CompaniesBonds and Debentures in non-T&T Companies74,009,28047,671,094126,908,28116,993,938225,288,405186,366,8901,204,941167,579,624117,379,683963,402,136Cash on Current Account and in handMortgage LoansPolicy LoansPolicy Loan Interest AccruedAmounts due from PolicyholdersAmounts due from other Insurance CompaniesInterest, dividends and rents accruing but not dueSundry DebtorsFixed AssetsOther AssetsTOTAL ASSETS2,625,28254,706,06514,518,4171,336,117629,1704,095,00946,364,7303,740,73222,000,00037,165,4261,150,583,084liabilities $ $Insurance FundsClaims admitted or intimated but not paidPremiums paid in advanceOutstanding CommissionsAmount due to ReinsurersDeposits re policiesOther Liabilities961,273,21815,546,5212,636,554431,4872,550,1464,864,46961,723,469NET LIABILITIESPaid-up Share CapitalNon- Admissible Assets AdjustmentUnrealised Revaluation ReservesTOTAL LIABILITIES1,049,025,8643,000,000(557,014)99,114,2341,150,583,084106REPORT ON INSURANCE AND PENSIONS


SUMMARY OF BALANCE SHEETS OF INCORPORATED COMPANIESTHE BEACON INSURANCE COMPANY LIMITEDINCORPORATED - 1970Directors: G.S.HADEED; P. BRYAN; R. LEWIS; L. GONSALVES; F. DE NOBRIGASecretary: D. GONZALEZAuditors: PRICEWATERHOUSECOOPERSActuary: ECKLER PARTNERS, PRESCIENCE INSURANCE CONSULTANTS & ACTUARIESCountries other than Trinidad and Tobago in which the Company writes Business: Barbados, Commonwealthof Dominica, Grenada, St Lucia, St. Vincent and The Grenadines.Summary of Balance Sheet in respect of Trinidad and TobagoBusiness as at 30th June, 2006assets $ $Investments:Fixed Deposits with BankSecurities guaranteed by the Gov’t of T&TUK Government SecuritiesOther Foreign Government SecuritiesOrdinary shares in T&T CompaniesOrdinary shares in non-T&T CompaniesPreference shares in T&T CompaniesBonds and Debentures in T&T CompaniesCash on Current Account and in handMortgage LoansLoans on Debentures of SharesAmounts due from BrokersAmounts due from PolicyholdersAmounts due from other Insurance CompaniesSundry DebtorsFixed AssetsOther AssetsTOTAL ASSETS14,220,07311,308,000964,5961,205,96910,358,6045,292,7782,175,3533,915,10049,440,4737,848,9681,598,9181,160,4017,091,3463,572,4322,745,0731,195,7971,896,7359,454,29086,004,433liabilities $ $Insurance FundsClaims admitted or intimated but not paidAmount due to ReinsurersBank Loans and OverdraftsOther Liabilities24,644,21017,333,54811,383,107860,5216,753,495NET LIABILITIESPaid-up Share CapitalNon- Admissible Assets AdjustmentUnrealised Revaluation ReservesRetained AccountOtherTOTAL LIABILITIES60,974,88110,000,000(2,653,075)4,228,7658,068,9305,384,93286,004,433REPORT ON INSURANCE AND PENSIONS 107


APPENDIX ATHE DEMERARA LIFE ASSURANCE COMPANY OF TRINIDAD AND TOABGO LIMITEDINCORPORATED - 1970Directors: P. GILLETTE; R. FIELDS; K. CHOLMONDELEY; H. RUSSELL; C. NIMBLETT;W. WINCHESTER; C. GILLSecretary: G. DE MATASAuditors: PRICEWATERHOUSECOOPERSActuary: PRESCIENCE INSURANCE CONSULTANTS & ACTUARIESCountries other than Trinidad and Tobago in which the Company writes Business: NilSummary of Balance Sheet in respect of Trinidad and TobagoBusiness as at 30th June, 2006assets $ $Investments:Fixed Deposits with BankFixed Deposits with Other Financial InstitutionsSecurities guaranteed by the Gov’t of T&TOrdinary shares in T&T CompaniesOrdinary shares in non-T&T CompaniesBonds and Debentures in T&T CompaniesCash on Current Account and in handAmounts due from PolicyholdersAmounts due from other Insurance CompaniesSundry DebtorsFixed AssetsOther AssetsTOTAL ASSETS3,280,06741,26712,493,84811,066,275178,4604,994,25832,054,1753,902,6897,876,5734,5148,139,3316,702,77133,598,93692,278,989liabilities $ $Insurance FundsClaims admitted or intimated but not paidClaims Equalisation ReserveAmount due to ReinsurersOther Liabilities15,580,1839,361,3461,872,27118,939,49111,594,881NET LIABILITIESPaid-up Share CapitalShare Premium AccountNon- Admissible Assets AdjustmentUnrealised Revaluation ReservesRetained AccountOtherTOTAL LIABILITIES57,348,17217,418,945199,242(399,599)14,455,3552,256,8741,000,00092,278,989108REPORT ON INSURANCE AND PENSIONS


SUMMARY OF BALANCE SHEETS OF INCORPORATED COMPANIESTHE GREAT NORTHERN INSURANCE COMPANY LIMITEDINCORPORATED - 1969Directors: W. ALEXANDER;Secretary: D. PERSAD-NARINEAuditors: BERTRAM HADAWAY AND COMPANYCountries other than Trinidad and Tobago in which the Company writes business: NILSummary of Balance Sheet in respect of Trinidad and Tobagobusiness as at 30th September, 2006assets $ $Investments:Fixed DepositsTrinidad and Tobago Government SecuritiesOrdinary shares in T&T CompaniesCash on Current Account and in handOutstanding PremiumsAmounts due from other Insurance CompaniesInterest, dividends and rents accruing but not dueSundry DebtorsFixed AssetsTOTAL ASSETS6,293,6702,076,112553,9498,923,7311,061,087366,180612,22672,039178,1112,375,96213,589,336liabilities $ $Insurance FundsClaims admitted or intimated but not paidAmount due to ReinsurersBank Loans and OverdraftsOther3,769,6792,089,091260,6101,418,6961,444,095NET LIABILITIESPaid-up Share CapitalRetained AccountOtherTOTAL LIABILITIES8,982,1712,173,0001,992,670441,49513,589,336REPORT ON INSURANCE AND PENSIONS 109


APPENDIX ATHE NEW INDIA ASSURANCE COMPANY (TRINIDAD AND TOBAGO) LIMITEDINCORPORATED - 1976Directors:Secretary:Auditors:B. CHAKRABARTI; S. GOPALAN; K. SIRJU; G. CHATURVEDI; J. SIEWRATTAN;H. BROOMES ; A. SEKAR ; J. JOSEPHH.S SERVICES LIMITEDKPMG CHARTERED ACCOUNTANTSCountries other than Trinidad and Tobago in which the Company writes business: Dominica, St. Lucia, St.MaartenSummary of Balance Sheet in respect of Trinidad and Tobagobusiness as at 31st December, 2006assets $ $Investments:Fixed Deposits with BankFixed Deposits with Other Financial InstitutionsSecurities guaranteed by the Gov’t of T&TOrdinary shares in T&T CompaniesOrdinary shares in non-T&T CompaniesBonds and Debentures in T&T Companies3,280,06741,26712,493,84811,066,275178,4604,994,25832,054,175Cash on Current Account and in handAmounts due from PolicyholdersAmounts due from other Insurance CompaniesSundry DebtorsFixed AssetsOther AssetsTOTAL ASSETS3,902,6897,876,5734,5148,139,3316,702,77133,598,93692,278,989liabilities $ $Insurance FundsClaims admitted or intimated but not paidClaims Equalisation ReserveAmount due to ReinsurersOther Liabilities15,580,1839,361,3461,872,27118,939,49111,594,881NET LIABILITIESPaid-up Share CapitalShare Premium AccountNon- Admissible Assets AdjustmentUnrealised Revaluation ReservesRetained AccountOtherTOTAL LIABILITIES57,348,17217,418,945199,242(399,599)14,455,3552,256,8741,000,00092,278,989110REPORT ON INSURANCE AND PENSIONS


SUMMARY OF BALANCE SHEETS OF INCORPORATED COMPANIESTHE PRESIDENTIAL INSURANCE COMPANY LIMITEDINCORPORATED - 1970Directors: A. ALI; A. HALLIM; R. RAJCOOMAR; J. FRANKLYN; H.HOSPEDALES; N. ALISecretary: R. RAJCOOMARAuditors: KRISHNA SEEGOBIN AND COMPANYCountries other than Trinidad and Tobago in which the Company writes business: NILSummary of Balance Sheet in respect of Trinidad and Tobagobusiness as at 31st October, 2006assets $ $Investments:Fixed Deposits with BankFixed Deposits with Other Financial InstitutionsTrinidad and Tobago Government SecuritiesSecurities guaranteed by the Gov’t of T&TOrdinary shares in T&T CompaniesCash on Current Account and in handOther LoansAmounts due from PolicyholdersAmounts due from other Insurance CompaniesInterest, dividends and rents accruing but not dueSundry DebtorsFixed AssetsTOTAL ASSETS2,013,5691,982,704320,6856,829,97764,62411,211,5591,208,673514,2176,879,2176,520,204124,789164,90915,407,46542,031,033liabilities $ $Insurance FundsClaims admitted or intimated but not paidAmount due to ReinsurersBank Loans and OverdraftsOther Liabilities8,385,4958,212,4201,893,9781,851,4917,138,741NET LIABILITIESPaid-up Share CapitalRetained AccountOtherTOTAL LIABILITIES27,482,12512,000,000185,0992,363,80742,031,033REPORT ON INSURANCE AND PENSIONS 111


APPENDIX ADirectors:Secretary:Auditors:TRINIDAD AND TOBAGO INSURANCE LIMITEDINCORPORATED – 1963ANTHONY N. SABGA; RAY A. SUMAIRSINGH; GERRY BROOKS; VICTOR HERDE;DAVID CLARKE; MICHAEL MOSESM. MUSA IBRAHIMERNST & YOUNGCountries other than Trinidad and Tobago in which the company writes business: BarbadosSummary of Balance Sheet in respect of Trinidad and Tobagobusiness as at 31st December, 2006assets $ $Investments:Fixed Deposits with BankFixed Deposits with Other Financial InstitutionsTrinidad and Tobago Government SecuritiesSecurities guaranteed by the Gov’t of T&TOther Caricom Government SecuritiesOrdinary shares in T&T CompaniesOrdinary shares in non-T&T CompaniesPreference shares in T&T CompaniesBonds and Debentures in T&T CompaniesBonds and Debentures in non-T&T CompaniesInvestment in dependent companies (insurance)Investment in dependent companies (non-insurance)20,103,29451,744,6702,513,80015,362,4596,045,55259,918,7894,016,31414,70061,532,76442,899,0966,861,24111,157,558282,170,237Cash on Current Account and in handAmounts due from Agents and sub-agentsAmounts due from BrokersAmounts due from PolicyholdersAmounts due from other Insurance CompaniesInterest, dividends and rents accruing but not dueSundry DebtorsFixed AssetsOther AssetsTOTAL ASSETS33,289,8963,448,47813,697,4222,289,0971,492,0003,783,0005,397,20067,801,70322,692,304436,061,337liabilities $ $Insurance FundsClaims admitted or intimated but not paidAmount due to ReinsurersOther LiabilitiesNET LIABILITIESPaid-up Share CapitalShare Premium AccountNon- Admissible Assets AdjustmentUnrealised Revaluation ReservesRetained AccountOtherTOTAL LIABILITIES54,117,11370,044,39323,914,59241,626,247189,702,34519,069,59632,944(8,272,390)36,085,583140,883,15458,560,106436,061,337112REPORT ON INSURANCE AND PENSIONS


SUMMARY OF BALANCE SHEETS OF INCORPORATED COMPANIESUNITED INSURANCE COMPANY LIMITEDINCORPORATED 1976Directors: H.A. TOPPIN; T.A. PEIRCE; R.G. CAVE; G. KING; D.A. BLACKMAN; D.W. BOYCESecretary: R.A.R.S. MARSHALLAuditors: ERNST AND YOUNGCountries other than Trinidad and Tobago in which the company writes business: Antigua, Aruba and theNetherland Antilles, Bahamas, Barbados, Belize, Dominica, Grenada, Guyana, Montserrat, St Lucia,St. Vincent and The Grenadines, Turks and Caicos.Summary of Balance Sheet in respect of Trinidad and Tobagobusiness as at 30th September 2006assets $ $Investments:Fixed Deposits with BankTrinidad and Tobago Government SecuritiesBonds and Debentures in non-T&T CompaniesCash Deposits with the Supervisor of InsuranceCash on Current Account and in handAmounts due from PolicyholdersInterest, dividends and rents accruing but not dueOther AssetsTOTAL ASSETS20,154,5001,789,58413,822,09435,766,1783,000,00023,167,13512,776,1762,227,07616,104,33593,040,900liabilities $ $Insurance FundsClaims admitted or intimated but not paidPremiums paid in advanceOutstanding CommissionsOther Liabilities5,058,0653,633,72122,1881,997,00555,802,079NET LIABILITIESNon- Admissible Assets AdjustmentRetained AccountOtherTOTAL LIABILITIES66,513,0589,373,69614,885,8262,268,32093,040,900REPORT ON INSURANCE AND PENSIONS 113


APPENDIX ATHE UNITED SECURITY LIFE INSURANCE COMPANY LIMITEDINCORPORATED – 1959Directors: J.A. BETHELL; D.W. ALLAN; O.W. JORDAN; M CHEVANNES-CAMPBELL; S.D.R. Mc NAMARA;T.A. MARTINS; A. ALEONG; H. Mc D BECKLES; D.D. MILLER; W.P. LUCIE-SMITH; C.D. de CAIRES;JOYCE E DEARSecretary: S. OSBORNEAuditors: PRICEWATERHOUSECOOPERSActuary: S. GOULETCountries other than Trinidad and Tobago in which the Company writes business: Anguilla, Antigua & Barbuda, Dominica, Grenada,Montserrat, St. Kitts, St. Lucia, St. Vincent & The Grenadines, Guyana.Summary of Balance Sheet in respect of Trinidad and Tobagobusiness as at 31st December, 2006assets $ $Investments:Fixed Deposits with BankFixed Deposits with Other Financial InstitutionsTrinidad and Tobago Government SecuritiesOther Caricom Government SecuritiesOrdinary shares in T&T CompaniesOrdinary shares in non-T&T CompaniesBonds and Debentures in T&T Companies2,079,20282,2325,500,0001,501,738561,214288,2645,461,79315,474,443Cash on Current Account and in handMortgage LoansPolicy LoansAmounts due from other Insurance CompaniesInterest, dividends and rents accruing but not dueSundry DebtorsTOTAL ASSETS1,217,843393,86111,7181,153,501165,906102,43518,519,707liabilities $ $Insurance FundsClaims admitted or intimated but not paidPremiums paid in advanceOther Liabilities15,504,4291,143,921273,8191,597,538NET LIABILITIESTOTAL LIABILITIES18,519,70718,519,707114REPORT ON INSURANCE AND PENSIONS


APPENDIX BLIST OF REGISTERED AGENTSList of Agents Registered under the Insurance Act, 1980as at 31st December 2006 and their anniversary dates.AGENTANNIVERSARYDate(Month/Day)Agent for / Company11 On 1 Solutions Limited.Nov/10Maritime Life (Caribbean) Limited2A.E.R. Investment Services Limited.Aug/16Guardian Life of the Caribbean Limited3A.E.S. Enterprises LimitedNov/25Guardian Life of the Caribbean Limited4A.Rauseo & Associates LimitedJan/21American Life and General InsuranceCompany Trinidad Limited5A.S. Bryden & Sons (Insurance)LimitedMay/18Guardian General Insurance Limited6AB Financial Solutions LimitedJul/26Colonial Life Insurance Company(Trinidad) Limited7Abco Insurance Services LimitedJan/03Maritime General Insurance CompanyLimited/ Maritime Life (Caribbean) Limited8ABS Financial Services LimitedJan/03Colonial Life Insurance Company(Trinidad) Limited9Accident Insurance MarketingLimitedOct/12Colonial Fire and General InsuranceCompany Limited/ Colonial LifeInsurance Company (Trinidad) Limited10Adla Services LimitedJul/16Guardian Life of the CaribbeanLimited11Adrian Balkissoon t/a AdrianBalkissoon EnterprisesApr/09Colonial Life Insurance Company(Trinidad) Limited1213Advanced InvestmentsManagement LimitedAerie International LimitedMar/08Mar/29Guardian General Insurance Limited/Guardian Life of the CaribbeanLimitedGuardian Life of the CaribbeanLimited14AFM Insurance Marketing Services& Investments LimitedJul/29Guardian Life of the CaribbeanLimitedREPORT ON INSURANCE AND PENSIONS 115


APPENDIX BList of Agents Registered under the Insurance Act, 1980as at 31st December 2006 and their anniversary dates.AGENTANNIVERSARYDate(Month/Day)Agent for / Company15AGN Insurance And InvestmentsLimitedApr/11Guardian General Insurance Limited16Ajax Services LimitedAug/03Guardian General Insurance Limited17Akal Assets & Risk ManagementLimitedApr/30Guardian Life of the CaribbeanLimited18Albert Kenneth JodhanMar/08Guardian Life of the CaribbeanLimited19Albert N. Abreu t/a Abreu TradingCompanyMay/25Trinidad and Tobago InsuranceLimited20Allan Tang ChoonOct/18Maritime General Insurance CompanyLimited/ Maritime Life (Caribbean) Limited21ALM Insurance Services LimitedSep/01Guardian General Insurance Limited /Guardian Life of the Caribbean Limited22Amada Investments & FinancialServices Limited.Jun/11Guardian Life of the CaribbeanLimited23Amity Insurance Agencies LimitedMar/21GTM Insurance Company Limited24Amritam Services LimitedNov/18Colonial Fire and General InsuranceCompany Limited / Colonial LifeInsurance Company (Trinidad) Limited25Anand RajkumarJun/07Colonial Life Insurance Company(Trinidad) Limited26Andrea Marta AJM FinancialServicesMay/18Colonial Life Insurance Company(Trinidad) Limited27Andrew Calcut t/a CalcutInsurance Services LimitedJun/07The New India Assurance Company(T’dad & T’go) Limited28Andrew Hackett InsuranceServices LimitedJul/04Guardian Life of the CaribbeanLimited116REPORT ON INSURANCE AND PENSIONS


List of Registered AgentsList of Agents Registered under the Insurance Act, 1980as at 31st December 2006 and their anniversary dates.AGENTANNIVERSARYDate(Month/Day)Agent for / Company29Andy De Vert InsuranceConsultants LimitedMar/21Sagicor Life Incorporated3031Andy GopaulAnina Financial Services LimitedDec/09Nov/25Citizen Insurance Company Limited /Motor & General Insurance CompanyLimitedColonial Life Insurance Company(Trinidad) Limited32Anlegro Insurance ServicesLimitedFeb/14Guardian Life of the CaribbeanLimited33Anna Gillian MohammedJan/03Trinidad and Tobago InsuranceLimited3435Anna Nunes t/a Erna InsuranceServicesAnnette KhanSep/14Jul/04Guardian General Insurance Limited/ Guardian Life of the CaribbeanLimitedColonial Life Insurance Company(Trinidad) Limited36Anormel Investments LimitedApr/11Tatil Life Assurance Limited37Ansa Mc Al Group EmployeesCredit Union Co-operative SocietyMar/21Trinidad and Tobago InsuranceLimited38Anthony Davis t/a Successful IdeasLimitedApr/15Colonial Life Insurance Company(Trinidad) Limited39Anthony Nagassar t/a FANServicesJul/04Colonial Life Insurance Company(Trinidad) Limited40Anthony Ramsingh t/a AnthonyRamsingh Insurance ServicesDec/22Colonial Life Insurance Company(Trinidad) Limited41Anthony St. LewisSep/10Guardian Life of the CaribbeanLimited42Archton Services LimitedJul/04Guardian Life of the CaribbeanLimitedREPORT ON INSURANCE AND PENSIONS 117


APPENDIX BList of Agents Registered under the Insurance Act, 1980as at 31st December 2006 and their anniversary dates.AGENTANNIVERSARYDate(Month/Day)Agent for / Company4344Arthur Bishop Insurance ServicesLimitedAstad Investments LimitedJul/01Feb/25Maritime General Insurance CompanyLimited/ Maritime Life (Caribbean)LimitedAmerican Life and General InsuranceCompany Trinidad Limited45Atherly Services Limited.Sep/17Colonial Life Insurance Company(Trinidad) Limited46Authentic Insurance ServicesLimited.Sep/01Guardian Life of the CaribbeanLimited47B & B Gray Enterprises LimitedMay/14Tatil Life Assurance Limited/ Trinidadand Tobago Insurance Limited48B. K. Insurance Agency LimitedSep/14Trinidad and Tobago InsuranceLimited49B. Pedro Insurance ServicesLimitedDec/22Tatil Life Assurance Limited50B. Williams-Groome FinancialServices LimitedApr/13Tatil Life Assurance Limited / Trinidadand Tobago Insurance Limited51B.J. Financial Services LimitedFeb/25Guardian Life of the CaribbeanLimited52B.M.W. Professional ServicesLimited.Jul/27Guardian Life of the CaribbeanLimited53Barbara Kanhai t/a St. ClairFinancial ServicesNov/02Colonial Life Insurance Company(Trinidad) Limited54Bates Asset ManagementCompany Limited.Jul/22Sagicor Life Incorporated55Beatrice Investments Limited.Dec/28Colonial Life Insurance Company(Trinidad) Limited56Ben’s Insurance & FinancialServices LimitedFeb/23Guardian Life of the CaribbeanLimited118REPORT ON INSURANCE AND PENSIONS


List of Registered AgentsList of Agents Registered under the Insurance Act, 1980as at 31st December 2006 and their anniversary dates.AGENTANNIVERSARYDate(Month/Day)Agent for / Company57Bethel Credit Union Co-Op SocietyLimitedJan/14GTM Insurance Company Limited58Betty Beatrice De Roche t/aElizabeth EnterprisesMay/11Colonial Life Insurance Company(Trinidad) Limited59Bisram Insurance Services LimitedNov/25Colonial Life Insurance Company(Trinidad) Limited60Brent Durity t/a B.D.’s ServicesFeb/23Colonial Life Insurance Company(Trinidad) Limited61Brian Christopher SamlalsinghLimitedNov/18Colonial Life Insurance Company(Trinidad) Limited6263Brijesh SupersadC & R Basdeo Services LimitedNov/22Apr/27Citizen Insurance Company Limited/Motor & General Insurance CompanyLimitedGuardian Life of the CaribbeanLimited64C & S Moonah Financial ServicesLimitedMar/29Guardian Life of the CaribbeanLimited6566C & Y Dass Services LimitedC.A.J. LimitedSep/08Jul/04Maritime General Insurance CompanyLimited/ Maritime Life (Caribbean)LimitedTrinidad and Tobago InsuranceLimited67C.A.P. Services LimitedJul/04Colonial Life Insurance Company(Trinidad) Limited68C.L.S. Insurance Advisory ServicesLimitedApr/11British American Insurance CompanyTrinidad Limited69Caesar’s Advisory Services LimitedOct/12Colonial Life Insurance Company(Trinidad) Limited70Camwiil Financial EnterprisesLimited.May/04Tatil Life Assurance LimitedREPORT ON INSURANCE AND PENSIONS 119


APPENDIX BList of Agents Registered under the Insurance Act, 1980as at 31st December 2006 and their anniversary dates.AGENTANNIVERSARYDate(Month/Day)Agent for / Company71Capil’s Insurance Services LimitedApr/30Guardian General Insurance Limited72Carew Investments CompanyLimitedNov/25Colonial Life Insurance Company(Trinidad) Limited73Carl A. Meyer (London Guarantee)Insurances LimitedMar/18Guardian General Insurance Limited/Guardian Life of the Caribbean Limited74Carl DattadeenApr/16Motor & General Insurance CompanyLimited75Carlton D.C. Buckmyre & CompanyLimitedDec/19American Life and General InsuranceCompany Trinidad Limited76Carlton WongNov/18Guardian Life of the CaribbeanLimited77CFJ Services LimitedFeb/23Maritime General Insurance CompanyLimited/ Maritime Life (Caribbean) Limited78Chaab Financial Company LimitedJan/31Guardian Life of the CaribbeanLimited79Charles MurrayFeb/09Guardian Life of the CaribbeanLimited80Charles Norton Guillen t/aGuillen’s Insurance ServicesMar/18Sagicor Life Incorporated81Charmaine MaharajDec/28Gulf Insurance Limited82Chase Financial Solutions LimitedJul/12Colonial Fire and General InsuranceCompany Limited/ Colonial LifeInsurance Company Limited83Cheelan’s Financial AdvisoryServices LimitedDec/29Tatil Life Assurance Limited84Chelsea & Company Limited.Dec/22Guardian Life of the CaribbeanLimited120REPORT ON INSURANCE AND PENSIONS


List of Registered AgentsList of Agents Registered under the Insurance Act, 1980as at 31st December 2006 and their anniversary dates.AGENTANNIVERSARYDate(Month/Day)Agent for / Company85Christian B. Grant FinancialSolutions LimitedJul/19Colonial Life Insurance Company(Trinidad) Limited86Christian HosangAug/19Colonial Fire and General InsuranceCompany Limited87Christopher Knaggs t/a Kris K.Insurance ServicesMar/22Sagicor Life Incorporated88Christopher Lyons FinancialServices LimitedJul/04Tatil Life Assurance Limited89CJ’s & Associates Company LimitedJul/26Guardian Life of the CaribbeanLimited90Claims Consultants &Administrators LimitedDec/22Trinidad and Tobago InsuranceLimited91CLICO Credit Union Co-operativeSociety LimitedNov/22Colonial Fire and General InsuranceCompany Limited92Clifford Rachpaul EnterprisesLimitedDec/08Sagicor Life Incorporated93Coastline Financial ServicesLimitedJul/20Maritime General Insurance CompanyLimited/ Maritime Life (Caribbean) Limited94Conec Marketing & FinancialServices Limited.Jul/29Guardian Life of the CaribbeanLimited95Cuna Caribbean InsuranceServices LimitedJan/05Guardian General Insurance Limited/Guardian Life of the Caribbean Limited96Czar Insurance Services LimitedJun/22Tatil Life Assurance Limited97D. L. Financial Services LimitedJan/03Guardian Life of the CaribbeanLimited98D. R. Investment & FinancialServices LimitedMay/18Guardian Life of the CaribbeanLimitedREPORT ON INSURANCE AND PENSIONS 121


APPENDIX BList of Agents Registered under the Insurance Act, 1980as at 31st December 2006 and their anniversary dates.AGENTANNIVERSARYDate(Month/Day)Agent for / Company99D.Persad Insurance ServicesLimitedJun/09Colonial Life Insurance Company(Trinidad) Limited100Dalchand SeerattanAug/05GTM Insurance Company Limited101Darryl Chung t/a Darryl ChungAgenciesMar/21Colonial Life Insurance Company(Trinidad) Limited102Darryl MorelandJan/03Guardian Life of the CaribbeanLimited103Daryl Dasent t/a D J Z InvestmentsOct/12Colonial Life Insurance Company(Trinidad) Limited104David Grainger t/a Financial OneAug/16Colonial Life Insurance Company(Trinidad) Limited105106David Namsoo t/a D.A.N. InsuranceServicesDavid ParasramSep/10Mar/21Sagicor Life IncorporatedGuardian Life of the CaribbeanLimited107Dayna Vieira t/a Mayfair InsuranceServicesApr/15Sagicor Life Incorporated108DBM Consultants LimitedJul/19Maritime General Insurance CompanyLimited109Debra Nancoo t/a Kaav EnterpriseSep/07Sagicor Life Incorporated110Delothmar Parray t/a UniversalFinancial & Advisory ServicesAug/18Colonial Life Insurance Company(Trinidad) Limited111Demming Marketing Limited.Jun/22Guardian Life of the CaribbeanLimited112Deneco LimitedSep/01Trinidad and Tobago InsuranceLimited122REPORT ON INSURANCE AND PENSIONS


List of Registered AgentsList of Agents Registered under the Insurance Act, 1980as at 31st December 2006 and their anniversary dates.AGENTANNIVERSARYDate(Month/Day)Agent for / Company113Dennis Ramdwar t/a DennisRamdwar AgencySep/14Guardian General Insurance Limited114115Deodath Ramdath SinghInsurance & Investment ServicesLimitedDhanraj Maharaj t/a Dan MaharajFinancial ServicesAug/23Jun/17Maritime General Insurance CompanyLimited/ Maritime Life (Caribbean)LimitedColonial Life Insurance Company(Trinidad) Limited116Dianne Grell t/a Financial &Insurance Solutions (FINSOL)Aug/16Sagicor Life Incorporated117Dominic Gonzalez t/a SuretradeInvestments ServicesMay/10Colonial Life Insurance Company(Trinidad) Limited118Doncabris Financial PlanningAssociates Co. Limited.May/18Sagicor Life Incorporated119Donna Salandy t/a MeihkofinServicesFeb/23Maritime General Insurance CompanyLimited/ Maritime Life (Caribbean)Limited120Dove Financial Services Limited.Jun/21Guardian Life of the CaribbeanLimited121Duncan Financial Services Limited.Jun/17Maritime Life (Caribbean) Limited122Dwarika & Associates LimitedMay/07Colonial Life Insurance Company(Trinidad) Limited123Dyal Ramcharan t/a DyalRamcharan Insurance ServicesMar/18Sagicor Life Incorporated124E D Investments LimitedApr/11Guardian Life of the CaribbeanLimited125Eaglestar Insurance ServicesLimitedOct/14American Life and General InsuranceCompany Trinidad Limited126Eastern Credit Union Co-operativeSociety Limited.Feb/27Colonial Fire and General InsuranceCompany LimitedREPORT ON INSURANCE AND PENSIONS 123


APPENDIX BList of Agents Registered under the Insurance Act, 1980as at 31st December 2006 and their anniversary dates.AGENTANNIVERSARYDate(Month/Day)Agent for / Company127Eddie’s Financial Services Limited.Apr/15Guardian Life of the CaribbeanLimited128Edward Lewis FrancoisJul/12Guardian Life of the CaribbeanLimited129Edwin Boyce t/a Edwin T. BoyceInsurance ServicesMay/25Sagicor Life Incorporated130EKTA Consultants CompanyLimitedNov/25Guardian General Insurance Limited/The Caribbean Home InsuranceCompany Limited131Elizabeth G. Ganga FinancialServices LimitedSep/01Colonial Life Insurance Company(Trinidad) Limited132Elizabeth Ramathally t/a FrankRamdeen’s Insurance AgencyJun/17Citizen Insurance Company Limited133Emmanuel Cipriani LawrenceFeb/23Colonial Life Insurance Company(Trinidad) Limited134Enrique Huggins InsuranceServices Limited.May/18Sagicor Life Incorporated135Ephraim Thompson t/a EphraimInsurance Consultant ServicesMar/21Sagicor Life Incorporated136Estee Enterprises LimitedJul/04Guardian Life of the CaribbeanLimited137Eugene NurseDec/28Colonial Life Insurance Company(Trinidad) Limited138Euodoo Financial Services Limited.Dec/22Colonial Life Insurance Company(Trinidad) Limited139Everard CabralSep/14Colonial Life Insurance Company(Trinidad) Limited140Excelsior Innovations LimitedAug/27Guardian Life of the CaribbeanLimited124REPORT ON INSURANCE AND PENSIONS


List of Registered AgentsList of Agents Registered under the Insurance Act, 1980as at 31st December 2006 and their anniversary dates.AGENTANNIVERSARYDate(Month/Day)Agent for / Company141F & G Enterprises LimitedSep/01Colonial Life Insurance Company(Trinidad) Limited142F A M Investments Limited.Feb/09Colonial Life Insurance Company(Trinidad) Limited143Faith Financial Services Limited.Sep/01American Life and General InsuranceCompany Trinidad Limited144FANcc Investment ServicesLimitedJan/10Guardian Life of the CaribbeanLimited145Farrell’s Insurance Services LimitedFeb/14Colonial Fire and General InsuranceCompany Limited/ Colonial LifeInsurance Company (Trinidad) Limited146Federal Financial Services LimitedJan/21Guardian Life of the Caribbean Limited147Ferm Insurance Services LimitedNov/09Guardian Life of the Caribbean Limited148FFS LimitedJul/29Guardian Life of the Caribbean Limited149Financial Advisory Services LimitedNov/25Colonial Fire and General InsuranceCompany Limited / Colonial LifeInsurance Company (Trinidad) Limited150Financial Evaluation Sales &Services LimitedNov/25Maritime General InsuranceCompany Limited/ Maritime Life(Caribbean) Limited151Financial Physicians LimitedJul/19Maritime General InsuranceCompany Limited/ Maritime Life(Caribbean) Limited152Fitzroy Sirjuesingh t/a SirjuesinghInsurance ServicesFeb/23Colonial Life Insurance Company(Trinidad) Limited153FLA Insurance Services LimitedOct/08Maritime General InsuranceCompany Limited154Flemco Services LimitedNov/09Maritime General InsuranceCompany Limited / Maritime Life(Caribbean) LimitedREPORT ON INSURANCE AND PENSIONS 125


APPENDIX BList of Agents Registered under the Insurance Act, 1980as at 31st December 2006 and their anniversary dates.AGENTANNIVERSARYDate(Month/Day)Agent for / Company155Fletcher Vincent InsuranceServices LimitedJan/03Gulf Insurance Limited156Frederick MaryuenMay/18Guardian Life of the CaribbeanLimited157Fuentes Financial Services LimitedJun/10Tatil Life Assurance Limited158Futuristic Insurance ServicesLimitedMar/29Guardian Life of the CaribbeanLimited159FYC LimitedJun/11Guardian Life of the CaribbeanLimited160G.E.T. Financial Services LimitedMar/26Guardian Life of the CaribbeanLimited161G.M. Investments LimitedJan/31Colonial Life Insurance Company(Trinidad) Limited162G.V.L. Financial Solutions LimitedMar/21Maritime General Insurance CompanyLimited/ Maritime Life (Caribbean)Limited163Garon LimitedApr/11Sagicor Life Incorporated164Gee Hee Tee Insurance ServicesLimitedOct/14Tatil Life Assurance Limited / Trinidadand Tobago Insurance Limited165Gee Tee & F Persnal FinancialServices LimitedMay/25Guardian Life of the CaribbeanLimited166Geeta Manbodh-LakhanAug/26The Presidential Insurance CompanyLimited167General Financial Services LimitedApr/10Sagicor Life Incorporated168Gerard RamroachFeb/23Guardian Life of the CaribbeanLimited126REPORT ON INSURANCE AND PENSIONS


List of Registered AgentsList of Agents Registered under the Insurance Act, 1980as at 31st December 2006 and their anniversary dates.AGENTANNIVERSARYDate(Month/Day)Agent for / Company169Gerhard Akien LimitedSep/02Guardian Life of the CaribbeanLimited170Gervase Hannays t/a G.H.Insurance Services LimitedJul/04Sagicor Life Incorporated171Glennrod Services LimitedMay/18Guardian General Insurance Limited172Golden Future InvestmentsLimitedJul/04Colonial Life Insurance Company(Trinidad) Limited173Good Financial Services LimitedFeb/23Sagicor Life Incorporated174Gopee-Samlalsingh & AssociatesLimitedOct/28Colonial Fire and General InsuranceCompany Limited175Gordon, Grant & Company LimitedMay/06Guardian General Insurance Limited176Grandwheels Services Limited.Sep/02Sagicor Life Incorporated177GRB Financial Services Limited.Sep/02Colonial Life Insurance Company(Trinidad) Limited178Gregory E. Joseph t/a QuickServices EnterprisesMay/11Colonial Life Insurance Company(Trinidad) Limited179GTM Insurance Company LimitedJun/25Motor One Insurance CompanyLimited180Guy Algernon Burton OttleyFeb/25Guardian Life of the CaribbeanLimited181H.H. Services LimitedMar/21Sagicor Life Incorporated182Habil Mohammed t/a HabilMohammed AgencyApr/15Trinidad and Tobago InsuranceLimitedREPORT ON INSURANCE AND PENSIONS 127


APPENDIX BList of Agents Registered under the Insurance Act, 1980as at 31st December 2006 and their anniversary dates.AGENTANNIVERSARYDate(Month/Day)Agent for / Company183Hamilson’s Insurance ServicesLimitedApr/22Trinidad and Tobago InsuranceLimited184Hansa Marketing LimitedJul/21Maritime General Insurance CompanyLimited / Maritime Life (Caribbean) Limited185Harrinath Seeram t/a VivaInsurance ServicesJan/14Colonial Life Insurance Company(Trinidad) Limited186Harrypersad BabwahFeb/14Guardian Life of the CaribbeanLimited187Hayden Blackmann t/a H.H.BConsultantsJan/14Colonial Life Insurance Company(Trinidad) Limited188Health & Wealth ManagementConsultants Limited.Dec/22Colonial Life Insurance Company(Trinidad) Limited189Helen Ache t/a H. Ache InsuranceServicesOct/11Sagicor Life Incorporated190Hellascorp LimitedDec/15Guardian Life of the CaribbeanLimited191Herman O Creque & CompanyLimitedMar/08Tatil Life Assurance Limited192Hillcrest Investments LimitedJan/14Colonial Life Insurance Company(Trinidad) Limited193Hugh PollonaisSep/01Guardian Life of the CaribbeanLimited194I Will Finance LimitedAug/05Maritime Life (Caribbean) Limited195Ian Stone t/a I.S. InsuranceConsultantDec/08Sagicor Life Incorporated196Ignatius and Company LimitedOct/14Guardian Life of the CaribbeanLimited128REPORT ON INSURANCE AND PENSIONS


List of Registered AgentsList of Agents Registered under the Insurance Act, 1980as at 31st December 2006 and their anniversary dates.AGENTANNIVERSARYDate(Month/Day)Agent for / Company197Indira MohammedNov/02Motor & General Insurance Company Limited198Insurance & Financial ServicesLimitedNov/09Guardian Life of the Caribbean Limited199Integritus Co. Limited.Nov/26Colonial Life Insurance Company(Trinidad) Limited200Investor’s Paradise FinancialServices LimitedApr/27Colonial Life Insurance Company(Trinidad) Limited201J & C Agencies Limited.Dec/22Guardian General Insurance Limited202J & L Financial & CounsellingServices LimitedJan/14Colonial Life Insurance Company(Trinidad) Limited203J. Gregory Farfan t/a J.G.F.Insurance ServicesOct/25Sagicor Life Incorporated204J.K.N. Financial Services LimitedFeb/09Colonial Life Insurance Company(Trinidad) Limited205J.Mohess & Company LimitedMar/18Tatil Life Assurance Limited/ Trinidadand Tobago Insurance Limited206James Nathaniel NimblettJan/21Guardian Life of the CaribbeanLimited207Japs Insurance Services LimitedApr/13Trinidad and Tobago InsuranceLimited208Jarod Joseph Perryman t/a JarimEnterprisesJan/31Colonial Life Insurance Company(Trinidad) Limited209Jeewan BirbalFeb/14Colonial Life Insurance Company(Trinidad) Limited210Jemmot Manmohan t/a JemmotManmohan Insurance andInvestmentsOct/21Colonial Life Insurance Company(Trinidad) LimitedREPORT ON INSURANCE AND PENSIONS 129


APPENDIX BList of Agents Registered under the Insurance Act, 1980as at 31st December 2006 and their anniversary dates.AGENTANNIVERSARYDate(Month/Day)Agent for / Company211Jenkha LimitedJul/16Colonial Life Insurance Company(Trinidad) Limited212Jennifer Gonzalez t/a JenniferGonzalez Insurance ServicesJun/21Sagicor Life Incorporated213Jennifer Lessey-Jordan t/a JLJConsultantMay/11Colonial Life Insurance Company(Trinidad) Limited214Joan Carr t/a Joan Carr InsuranceServicesMar/21Sagicor Life Incorporated215Joel Martinez & AssociatesLimited.Jan/28Sagicor Life Incorporated216John Andre Wood-Salomon t/aAndre’s Financial ManagementServicesJul/04Colonial Life Insurance Company(Trinidad) Limited217Jonathan Decle t/a J.D. InsuranceServicesNov/02Sagicor Life Incorporated218Jones Motors LimitedApr/30Guardian General Insurance Limited219Judy Weaver t/a J.V.W. FinancialServicesMar/18Colonial Life Insurance Company(Trinidad) Limited220Jury Mohammed t/a MohammedMotor Insurance AgencyDec/08Capital Insurance Limited221K.S.W. Financial Services LimitedApr/25Tatil Life Assurance Limited222Kalyaani LimitedSep/02Trinidad and Tobago Insurance Limited223Karlla Agencies LimitedDec/15Guardian Life of the Caribbean Limited224Kedar Gajadharsingh t/aGajadharsingh Insurance & TravelServicesFeb/25Trinidad and Tobago Insurance Limited130REPORT ON INSURANCE AND PENSIONS


List of Registered AgentsList of Agents Registered under the Insurance Act, 1980as at 31st December 2006 and their anniversary dates.AGENTANNIVERSARYDate(Month/Day)Agent for / Company225Kee Investment Strategies LimitedJul/20Maritime Life (Caribbean) Limited226Keith Charles Financial ServicesLimitedJun/17Tatil Life Assurance Limited/ Trinidad andTobago Insurance Limited227Keith’s Financial Services LimitedSep/02Colonial Life Insurance Company (Trinidad)Limited228Kermit Khan t/a Khan’s MotorInsurance AgencySep/15Capital Insurance Limited229Kerry Peter RamjagDec/22Colonial Life Insurance Company (Trinidad)Limited230Kevin Davis t/a K.DavisConsultantsMar/29Colonial Life Insurance Company (Trinidad)Limited231Keystone Investments Limited.Jul/22Maritime General Insurance CompanyLimited / Maritime Life (Caribbean) Limited232Kirby Panchoo t/a E.R. InsuranceAgencyAug/19Anchorage General Insurance Limited233Kirton Daniel t/a QuantumFinancial SolutionsJan/14Colonial Life Insurance Company (Trinidad)Limited234Krat Investments LimitedSep/15Guardian Life of the Caribbean Limited235Krishna Ramgoolam t/aK.Ramgoolam Financial ServicesJan/14Colonial Life Insurance Company (Trinidad)Limited236L.F.M. Investments LimitedJul/12Maritime Life (Caribbean) Limited237L.G.G. Investments LimitedOct/14Guardian Life of the Caribbean Limited238L.J. Pollonais (1989) LimitedMay/18Guardian General Insurance LimitedREPORT ON INSURANCE AND PENSIONS 131


APPENDIX BList of Agents Registered under the Insurance Act, 1980as at 31st December 2006 and their anniversary dates.AGENTANNIVERSARYDate(Month/Day)Agent for / Company239L.J. Williams LimitedJan/03American Life and General InsuranceCompany Trinidad Limited240L.R. & J. Investments LimitedMay/25Guardian Life of the CaribbeanLimited241Lange Trinidad LimitedJun/07Guardian General Insurance Limited242Lark Investment LimitedMay/25Guardian Life of the CaribbeanLimited243Lawrence Enterprises LimitedJan/21Colonial Life Insurance Company(Trinidad) Limited244Lexcorp Company LimitedNov/09Maritime General Insurance CompanyLimited / Maritime Life (Caribbean) Limited245LG Consultancy & AssociatesLimited.Jun/23Guardian Life of the Caribbean Limited246Logimex Group LimitedJan/31Colonial Fire and General InsuranceCompany Limited247Lucky Robinson Insurance & AlliedServices LimitedJan/31Colonial Life Insurance Company(Trinidad) Limited248Lurson Financial & InvestmentServices Limited.Dec/28Guardian Life of the Caribbean Limited249Lutchman Agencies LimitedMar/29Citizen Insurance Company Limited250Lynchris Financial Services LimitedJul/29Guardian Life of the Caribbean Limited251M & G Enterprises LimitedFeb/25Guardian Life of the Caribbean Limited252M.S.B. Insurance Services LimitedFeb/09Tatil Life Assurance Limited132REPORT ON INSURANCE AND PENSIONS


List of Registered AgentsList of Agents Registered under the Insurance Act, 1980as at 31st December 2006 and their anniversary dates.AGENTANNIVERSARYDate(Month/Day)Agent for / Company253M.S.C.D. Investments LimitedSep/02Guardian Life of the Caribbean Limited254M.U.C.H. Services LimitedMay/18Guardian Life of the Caribbean Limited255Margaret Louise Griffith-EdwardsFeb/14Guardian Life of the Caribbean Limited256Marius Advisory Services LimitedSep/02Colonial Life Insurance Company (Trinidad)Limited257Marjen Financial & InsuranceServices LimitedJan/14Colonial Life Insurance Company (Trinidad)Limited258Martel Investment Limited.Mar/18Colonial Life Insurance Company (Trinidad)Limited259Martin M.V. Lashley t/a M.M.V.L.Financial ServicesJan/14Colonial Life Insurance Company (Trinidad)Limited260Maxim Investments LimitedApr/11Guardian Life of the Caribbean Limited261Mazely Enterprises LimitedDec/08Guardian Life of the Caribbean Limited262Melvic Incorporation LimitedSep/20Guardian Life of the Caribbean Limited263Mervina HoseinMay/18The Great Northern Insurance CompanyLimited264Michael Ibrahim Insurance andInvestments Limited.Sep/17Guardian Life of the Caribbean Limited265Michael Lawrence InsuranceServices LimitedJul/08Guardian Life of the Caribbean Limited266Michelle Prashad t/a M.A.P.Financial ServicesJan/14Sagicor Life IncorporatedREPORT ON INSURANCE AND PENSIONS 133


APPENDIX BList of Agents Registered under the Insurance Act, 1980as at 31st December 2006 and their anniversary dates.AGENTANNIVERSARYDate(Month/Day)Agent for / Company267MPA Insurance Services Limited.Dec/05Sagicor Life Incorporated268Myron Rudder t/a Myron RudderAgencySep/17Colonial Life Insurance Company(Trinidad) Limited269N & Q Investments LimitedJul/04Colonial Fire and General InsuranceCompany Limited270Naceri LimitedMar/21Guardian Life of the CaribbeanLimited271Naidu Powdhar t/a Naidu PowdharInsurance AgencySep/15Colonial Life Insurance Company(Trinidad) Limited272Nare Insurance Agencies LimitedApr/27The Beacon Insurance CompanyLimited273Nazia Ali-AzimOct/14The New India Assurance Company(T’dad & T’go) Limited274Nazir Mohammed InvestmentsLimitedOct/22Colonial Life Insurance Company(Trinidad) Limited275Nelson Wong SangAug/19Guardian Life of the CaribbeanLimited276New Creation Investment LimitedJul/04Guardian Life of the CaribbeanLimited277Nigel F. Hadley t/a Nigel F. HadleyInsurance ServicesFeb/14Colonial Life Insurance Company(Trinidad) Limited278Nigel G. Salina & AssociatesJan/14Colonial Life Insurance Company(Trinidad) Limited279Nirveeta Agencies LimitedJul/19Guardian General Insurance Limited280Noel Noel & Associates LimitedMay/25Guardian General Insurance Limited134REPORT ON INSURANCE AND PENSIONS


List of Registered AgentsList of Agents Registered under the Insurance Act, 1980as at 31st December 2006 and their anniversary dates.AGENTANNIVERSARYDate(Month/Day)Agent for / Company281Northern Atlantic Insurance &Finance Company LimitedSep/01Maritime General Insurance CompanyLimited282Oodles Financial Services LimitedMar/15Guardian Life of the Caribbean Limited283Oswald Alexis JosephJul/04Guardian Life of the Caribbean Limited284P.K. Management Services LimitedMay/18Sagicor Life Incorporated285Padmawatee Maharaj-Despot t/aSoldado Insurance AgencyDec/28Trinidad and Tobago Insurance Limited286Palladium Financial PlanningServices Limited.Jun/12Guardian Life of the Caribbean Limited287Pamela Momen RampersadAug/03Capital Insurance Limited288Paramount Investments LimitedOct/14Colonial Life Insurance Company (Trinidad)Limited289Partap SeenathNov/16GTM Insurance Company Limited290Patricia James-Wilson t/a SemajConsultancy ServicesMar/21Maritime General Insurance CompanyLimited/ Maritime Life (Caribbean) Limited291Paul Gerard Massiah t/a PGMEnterprisesJun/11Colonial Life Insurance Company (Trinidad)Limited292Paul Gyan t/a Paul Gyan InsuranceServicesJan/14Colonial Life Insurance Company (Trinidad)Limited293Pauline De Souza t/a P.D. InsuranceServicesMar/21Sagicor Life Incorporated294Pegasus Financial Services LimitedFeb/19Trinidad and Tobago Insurance LimitedREPORT ON INSURANCE AND PENSIONS 135


APPENDIX BList of Agents Registered under the Insurance Act, 1980as at 31st December 2006 and their anniversary dates.AGENTANNIVERSARYDate(Month/Day)Agent for / Company295PGM Financial Services LimitedOct/14Guardian Life of the Caribbean Limited296Pooled Producers LimitedJul/19Maritime Life (Caribbean) Limited297Portfolio Serve Limited.Oct/14Colonial Life Insurance Company(Trinidad) Limited298Pranesh MaharajAug/26Guardian Life of the Caribbean Limited299Premdath Seegolam t/a V.I.P.S.Financial ServicesAug/03Colonial Life Insurance Company(Trinidad) Limited300Prime General Insurance LimitedOct/11Sagicor General Insurance301Prince Primus Investment LimitedApr/15Colonial Life Insurance Company(Trinidad) Limited302Prophet Financial Services Limited.Jun/11Guardian Life of the Caribbean Limited303Q-Rator Financial ServicesLiamitedMay/11Sagicor Life Incorporated304R & N Insurance Services Limited.Aug/03Maritime General Insurance CompanyLimited305R & S Enterprises LimitedOct/25Guardian Life of the Caribbean Limited306R.C.S.N. Investments LimitedJul/26Colonial Life Insurance Company(Trinidad) Limited307R.G.F. Asset Management LimitedNov/21Maritime Life (Caribbean) Limited308R.Ramkissoon Insurance ServicesLimited.Feb/25Colonial Life Insurance Company(Trinidad) Limited136REPORT ON INSURANCE AND PENSIONS


List of Registered AgentsList of Agents Registered under the Insurance Act, 1980as at 31st December 2006 and their anniversary dates.AGENTANNIVERSARYDate(Month/Day)Agent for / Company309Rae Henry-Francis t/a Investment& Financial Planning SolutionsDec/08Colonial Life Insurance Company (Trinidad)Limited310Rafael Mouttet t/a R.E.M. FinancialServicesApr/11Sagicor Life Incorporated311Rahamut & Company LimitedMar/18Capital Insurance Limited312Ralico Insurance Services LimitedFeb/23Maritime General Insurance CompanyLimited/ Maritime Life (Caribbean) Limited313Ralph Coutain Insurance Servicesand Investments LimitedFeb/23Colonial Life Insurance Company (Trinidad)Limited314Ramanan JaikaranSep/02Gulf Insurance Limited315Ramkhelawan Financial andInsurance Services LimitedJan/31British American Insurance CompanyTrinidad Limited316Ramlogan Associates Limited.Aug/03Capital Insurance Limited317Randy Hosein LimitedOct/14Maritime General Insurance CompanyLimited318Rasheed Ali t/a Rasheed AliInsurance ServicesDec/28Sagicor Life Incorporated319RBTT Insurance Agency LimitedJul/04Guardian General Insurance Limited /Guardian Life of the Caribbean Limited320RDA Financial Services LimitedSep/02Guardian Life of the Caribbean Limited321Recover Insurance ServicesLimitedSep/30Tatil Life Assurance Limited/ Trinidad andTobago Insurance322Rhevol Insurance And InvestmentServices Limited.Feb/25Guardian Life of the Caribbean LimitedREPORT ON INSURANCE AND PENSIONS 137


APPENDIX BList of Agents Registered under the Insurance Act, 1980as at 31st December 2006 and their anniversary dates.AGENTANNIVERSARYDate(Month/Day)Agent for / Company323Riansel Financial Planning ServicesLimited.Jul/29Maritime General Insurance CompanyLimited / Maritime Life (Caribbean) Limited324Richard Daly t/a NRICH EnterprisesMar/29Sagicor Life Incorporated325RIIB Financial Services LimitedApr/13Guardian Life of the Caribbean Limited326Rishi Ramdeen t/a R.J.R.Investments and InsuranceServicesAug/03Colonial Life Insurance Company(Trinidad) Limited327Risk Protection Insurance AgenciesLimitedNov/26Trinidad and Tobago Insurance Limited328RMB Financial Services LimitedMay/11Tatil Life Assurance Limited / Trinidadand Tobago Insurance Limited329Robard Insurance Services LimitedMar/29Guardian General Insurance Limited330Ro-je Management andInvestment Services LimitedMar/29Guardian Life of the Caribbean Limited331Rolfe Ronald Albert Moyou t/aMoyou Investment and InsuranceJul/04Colonial Life Insurance Company(Trinidad) Limited332Ronald Barlay t/a RonbarisJan/21Colonial Life Insurance Company(Trinidad) Limited333Rondar Insurance ServicesLimited.Jul/22British American Insurance CompanyTrinidad Limited334Roton Investments LimitedOct/12Maritime Life (Caribbean) Limited335Royal Insurance ConsultantsLimitedFeb/14Guardian General Insurance Limited336RSDF Finance & InvestmentsLimited.Jun/09Guardian Life of the Caribbean Limited138REPORT ON INSURANCE AND PENSIONS


List of Registered AgentsList of Agents Registered under the Insurance Act, 1980as at 31st December 2006 and their anniversary dates.AGENTANNIVERSARYDate(Month/Day)Agent for / Company337Rudy Gaskin Insurance,Investments & Financial ServicesLimited.Dec/03Guardian Life of the Caribbean Limited338Rupert Clovis Insurance AgencyLimitedJun/07Guardian General Insurance Limited339Russell Bhola Insurance ServicesLimitedMar/08Tatil Life Assurance Limited340Ruth Frazer-MunroeOct/22Guardian Life of the Caribbean Limited341Rybre Services LimitedSep/02Colonial Life Insurance Company(Trinidad) Limited342S & R Insurance And AdvisoryService Limited.Mar/18Tatil Life Assurance Limited343S & S Insurance & AssociatedServices LimitedJul/29Colonial Life Insurance Company (Trinidad)Limited344S. Deonarine Insurance ServicesLimitedJul/04Colonial Life Insurance Company (Trinidad)Limited345S.D.R. Nandlal Advisory ServicesLimitedMar/29Mega Insurance Company Limited346S.M.H. Services LimitedMar/21Trinidad and Tobago Insurance Limited347S.O.S. Agencies Limited.Jul/22Colonial Life Insurance Company (Trinidad)Limited348S.W. Financial Services Limited.Feb/25Colonial Life Insurance Company (Trinidad)Limited349Sagicor Life IncorporatedJul/08Sagicor General Insurance350Saving Security InvestmentLimitedJan/31Tatil Life Assurance Limited / Trinidad andTobago Insurance LimitedREPORT ON INSURANCE AND PENSIONS 139


APPENDIX BList of Agents Registered under the Insurance Act, 1980as at 31st December 2006 and their anniversary dates.AGENTANNIVERSARYDate(Month/Day)Agent for / Company351Security Motor Insurance AgenciesLimitedNov/10Capital Insurance Limited352Seepersad Agencies LimitedAug/30Guardian General Insurance Limited353Selona GransamOct/31Trinidad and Tobago Insurance Limited354Selverondm LimitedMar/03Guardian Life of the Caribbean Limited355Shawn Crooks t/a Shawn CrooksConsultancy ServicesJun/07Colonial Life Insurance Company (Trinidad)Limited356Stafford Yorke Financial ServicesLimitedApr/13Guardian Life of the Caribbean Limited357Stanley HospedalesMay/18Export Import Bank of Trinidad andTobago358Stokely Regis Insurance ServicesLimitedJan/29Colonial Life Insurance Company (Trinidad)Limited359Sumar Consultants Limited.Jan/10Sagicor Life Incorporated360Supreme Concepts & SolutionsLimitedOct/21Maritime General Insurance CompanyLimited / Maritime Life (Caribbean) Limited361Swar-raj Marketing CompanyLimitedMay/11May/11Maritime General Insurance Company LimitedMaritime Life (Caribbean) Limited362Sydsons Services LimitedAug/02Sagicor Life Incorporated363T C & F Services LimitedNov/02Sagicor Life Incorporated364Tai Chew Investment ServicesLimited.Jul/08Guardian Life of the Caribbean Limited140REPORT ON INSURANCE AND PENSIONS


List of Registered AgentsList of Agents Registered under the Insurance Act, 1980as at 31st December 2006 and their anniversary dates.AGENTANNIVERSARYDate(Month/Day)Agent for / Company365Taji Financial Services LimitedAug/02Colonial Life Insurance Company (Trinidad)Limited366Tando LimitedMar/18Colonial Life Insurance Company (Trinidad)Limited367Teague’s Inc. LimitedAug/05Maritime Life (Caribbean) Limited368TECU Credit Union Co-operativeSociety LimitedMar/18Mar/18Cuna Caribbean Insurance LimitedGuardian General Insurance Limited369Telly Paul Accident & HealthInsurance Services Limited.Jan/21American Life and General InsuranceCompany Trinidad Limited370Telly Paul General InsuranceServices LimitedSep/03American Life and General InsuranceCompany Trinidad Limited371Telly Paul Insurance & FinancialServices LimitedSep/01American Life and General InsuranceCompany Trinidad Limited372Terence Gopaul InsuranceConsultants LimitedMar/21Tatil Life Assurance Limited373The New Edition InsuranceServices LimitedJun/07American Life and General InsuranceCompany Trinidad Limited374The Presidential InsuranceCompany LimitedSep/02Trinidad and Tobago Insurance Limited375Thecla Enterprises LimitedSep/02Maritime General Insurance CompanyLimited / Maritime Life (Caribbean) Limited376Thomas and Sons LimitedSep/02Colonial Fire and General InsuranceCompany Limited377Thomas NancooJul/04Colonial Life Insurance Company (Trinidad)Limited378Thomas Sosa-WanguemertJun/10Guardian Life of the Caribbean LimitedREPORT ON INSURANCE AND PENSIONS 141


APPENDIX BList of Agents Registered under the Insurance Act, 1980as at 31st December 2006 and their anniversary dates.AGENTANNIVERSARYDate(Month/Day)Agent for / Company379Thomas Wood t/a Nitim InsuranceServicesOct/10Sagicor Life Incorporated380Three Palms Services LimitedMar/29Citizen Insurance Company Limited381TIMCO Insurance Services LimitedMay/18Maritime General Insurance Company LimitedMaritime Life (Caribbean) Limited382Tobias & Tobias Insurance ServicesLimitedMay/25Sagicor Life Incorporated383Tommy Elias Insurance ServicesLimited.Mar/08Dec/28Maritime General Insurance Company LimitedMaritime Life (Caribbean) Limited384Total Insurance Services LimitedAug/03Colonial Life Insurance Company (Trinidad)Limited385Towheed AliFeb/02Colonial Life Insurance Company (Trinidad)Limited386Trevor Rex Baddaloo EnterprisesLimitedJul/26Jul/26Maritime General Insurance Company LimitedMaritime Life (Caribbean) Limited387Trinidad Financial ManagementServices LimitedAug/03Maritime General Insurance CompanyLimited388Trinidad Insurance Centre LimitedSep/09Sagicor Life Incorporated389Trinmesh LimitedJan/22Trinidad and Tobago Insurance Limited390U4RIA Investments And ServicesLimitedApr/13Colonial Life Insurance Company (Trinidad)Limited391Usuff Abraham t/a U.M.A.Insurance ServicesJan/03Sagicor Life Incorporated392V & A Services Limited.Nov/18Colonial Life Insurance Company (Trinidad)Limited142REPORT ON INSURANCE AND PENSIONS


List of Registered AgentsList of Agents Registered under the Insurance Act, 1980as at 31st December 2006 and their anniversary dates.AGENTANNIVERSARYDate(Month/Day)Agent for / Company393V.H. Investments LimitedJan/21Guardian Life of the Caribbean Limited394Varona Usha Polat t/a KushalAgenciesJan/05The New India Assurance Company (T’dad& T’go) Limited395Vasantie Singh t/a PremierInsurance Services LimitedFeb/09The New India Assurance Company (T’dad& T’go) Limited396Vashti BalgarooDec/03Motor One Insurance Company Limited397Veda Consultants LimitedFeb/23The New India Assurance Company (T’dad& T’go) Limited398Vera AliNov/29Guardian Life of the Caribbean Limited399Vergo Enterprises LimitedJul/04Motor & General Insurance CompanyLimited400Vernon Fingal Financial ServicesCompany LimitedDec/28Guardian Life of the Caribbean Limited401W & H Tire Supplies LimitedOct/11Trinidad and Tobago Insurance Limited402W. Lezama Insurance andInvestment Services LimitedSep/02Colonial Life Insurance Company (Trinidad)Limited403Wajeeda BissoondathMar/29Guardian General Insurance Limited404Wallum Insurance Services LimitedJul/04GTM Insurance Company LimitedMotor One Insurance Company Limited405Wayne Decle t/a Decle InsuranceServicesJan/10Sagicor Life Incorporated406Wayne Mohammed t/a WaymoFinancial ServicesDec/08Sagicor Life IncorporatedREPORT ON INSURANCE AND PENSIONS 143


APPENDIX BList of Agents Registered under the Insurance Act, 1980as at 31st December 2006 and their anniversary dates.AGENTANNIVERSARYDate(Month/Day)Agent for / Company407Whedeck Insurance & FinancialServices LimitedFeb/09Guardian Life of the Caribbean Limited408Whibco Associates LimitedDec/08Sagicor Life Incorporated409William RodriguezAug/19Guardian Life of the Caribbean Limited410William St. Aubyn t/a St. AubynInsurance ServicesDec/08Sagicor Life Incorporated411Winston ArcherJan/14Guardian Life of the Caribbean Limited412Z.N. Mathura Investments Limited.Dec/28Guardian Life of the Caribbean Limited413Zahaida Ali Insurance Services1991 Limited.Mar/08Mar/08Maritime General Insurance Company LimitedMaritime Life (Caribbean) Limited414Zenobia BakshAug/19Trinidad and Tobago Insurance Limited144REPORT ON INSURANCE AND PENSIONS


APPENDIX CLIST OF REGISTERED BROKERSLIST OF BROKERS REGISTERED UNDER THE INSURANCE ACT CHAP. 84:01AS AT 31ST DECEMBER 2006 AND THEIR ANNIVERSARY DATES.BROKERANNIVERSARYDate1 21st Century Insurance and ReinsuranceBrokers 7/132 3K’s Services Limited 3/183 Ace Insurance Brokers Limited 3/244 Agostini Insurance Brokers Limited 2/285 Amalgamated Insurance Brokers 5/136 Amrib Insurance Services /47 Anthony David Farah 3/318 Anthony Nigel Vere Slinger 0/119 Aon Energy Caribbean Limited 2/2010 Blaine Hosang 2/2511 Brian Lewis t/a Legacy Financial 4/1312 Camacho De Bruin Insurance BrokersLimited 0/2513 Charlett & Gatcliffe Limited /414 Christian W. Low 3/415 Comprehensive Insurance Brokers Limited 2/2816 Consolidated Insurance Consultants Limited /1817 Craig Millar 3/2718 Darryl Ramsundar 2/119 Dave Patterson /3020 Dereck Soobransingh 7/29REPORT ON INSURANCE AND PENSIONS 145


APPENDIX CLIST OF BROKERS REGISTERED UNDER THE INSURANCE ACT CHAP. 84:01AS AT 31ST DECEMBER 2006 AND THEIR ANNIVERSARY DATES.BROKERANNIVERSARYDate21 Derek De Silva 3/2322 Dexter Ragoonanan 5/1823 E.P. Insurance Services Limited 7/124 Emerald Insurance Services Limited 5/1825 Erickson Ramkhelawan 2/326 Errol Sooknanan 7/127 Farah Insurance Brokers Limited 3/3128 Fazal Imtiaz Ali 7/1229 Fidelity Insurance Brokers (Fazal Ali) 7/1230 Garvin Anslem Manzano 0/1931 Global Financial Brokers Limited 8/2032 Gregory De Montrichard 3/1833 Guerero and Hubert Company Limited 2/1034 Hardath General Insurance ConsultantsLimited 2/735 Hardeo Hardath 2/736 Insurance & Allied Services Limited 2/2937 Insurance Brokers West Indies Limited 2/138 Insurance Managers Limited 9/2739 Irma Bishop /440 Janice Roberts /18146REPORT ON INSURANCE AND PENSIONS


LIST OF REGISTERED BROKERSLIST OF BROKERS REGISTERED UNDER THE INSURANCE ACT CHAP. 84:01AS AT 31ST DECEMBER 2006 AND THEIR ANNIVERSARY DATES.BROKERANNIVERSARYDate41 Jerry R. Narace 9/2742 L & L Insurance Services Limited 9/1643 Lanson Julien /3044 Lou-Anna Ferreira-Patterson 2/2045 Luciano Woodley 9/1646 M&M Insurance Services Limited 2/2547 Mailbrol Insurance Brokers Limited /1848 Merchants & General Insurance &Reinsurance Brokers (W.I.) Limited 4/1849 Michael Redhead t/a Pensurance Brokers /250 Millar Insurance Brokers Limited 3/2751 Millenium Insurance Brokers Limited /3052 Nautilus Insurance Brokers Limited 8/1053 Nazreen Deosingh 3/1854 Neil Colin Gosine 7/3155 Nizam Mohammed 3/2456 Norman Gabriel Limited 2/2357 Norman Gabriel 2/2358 Omah Seetahal 2/2959 Pan West Indian Insurance Brokers Limited 5/360 Personalised Insurance Brokers &Reinsurance Limited 2/3REPORT ON INSURANCE AND PENSIONS 147


APPENDIX CLIST OF BROKERS REGISTERED UNDER THE INSURANCE ACT CHAP. 84:01AS AT 31ST DECEMBER 2006 AND THEIR ANNIVERSARY DATES.BROKERANNIVERSARYDate61 Peter Gifford Charlett /462 Peter Malcolm George Farah 2/2863 Prakash H. Bhagan 2/164 PRFC Limited 2/2865 Ramnarine Maharaj 5/1366 Ravi Surjan 5/367 Richard Ramdwar 8/1068 Risk Management Services Limited 3/469 Risk Research Limited 3/1870 Robert Gordon Charlett /471 Robert Lazzari 2/2872 Romano Martin 2/1073 Sandra Chin Yuen Kee 8/2074 Satchan Ramsaran 7/1475 SDS Insurance Brokers Limited 7/2976 Solomon Austin Elder t/a SasreFinancial Services Limited. 7/977 Specialists Insurance Brokers Limited 4/2778 Stephen Castagne 2/2579 Sterling Insurance Services Limited 7/880 Surujdeo Mangaroo 3/1481 Trinidad & Tobago Insurance ConsultantsLimited 0/11148REPORT ON INSURANCE AND PENSIONS


LIST OF REGISTERED BROKERSLIST OF BROKERS REGISTERED UNDER THE INSURANCE ACT CHAP. 84:01AS AT 31ST DECEMBER 2006 AND THEIR ANNIVERSARY DATES.BROKERANNIVERSARYDate82 Trinity Insurance Brokers Limited 3/1483 Walter E. DeBruin 0/2584 Wayne Gosine 7/1385 Winston Siriram 7/8REPORT ON INSURANCE AND PENSIONS 149


APPENDIX DLIST OF REGISTERED ADJUSTERSLIST OF ADJUSTERS REGISTERED UNDER THE INSURANCE ACT CHAP. 84:01AS AT 31ST DECEMBER 2006 AND THEIR ANNIVERSARY DATESADJUSTERANNIVERSARYDate1 Bertrand Doyle /32 Ganesh Rampersad /33 Raphael’s Investigators, Adjusters &Realtors Limited /254 Factfinders Business Investigators Limited /295 Insurance Investigators Services Limited 2/256 Axis (Eastern Caribbean) Limited 3/177 Glen Mohammed 3/238 Nebert Marin trading as SurvivalManagement Trinidad 3/249 Arman Adjusting Services Limited 5/1210 Pioneer Insurance Claims Services CompanyLimited 5/1311 Adam Sanguinette Claim Consultants 5/2412 Cariclaims Investigators & Adjusters Limited 7/113 Commonwealth Claims Consultant Limited 7/1014 Jacob Jules trading as Jules Investigators &Adjusters Services 7/1815 General Adjusters Limited 8/2716 Liver Rosemin & Company Limited 8/3017 Clevon Singh trading as Reliance Adjusters& Investigators 9/718 Accord Adjusting Company Limited 9/9150REPORT ON INSURANCE AND PENSIONS


Appendix dLIST OF ADJUSTERS REGISTERED UNDER THE INSURANCE ACT CHAP. 84:01AS AT 31ST DECEMBER 2006 AND THEIR ANNIVERSARY DATESADJUSTERANNIVERSARYDate19 Mc Larens Young International (T&T)Limited 9/1720 Peter Bowman 0/1821 Ezekiel Joseph /2322 International Business InvestigatorsServices Limited 2/223 Twin-Isle Adjusters Limited 2/2824 Orion Adjusters Limited 2/31REPORT ON INSURANCE AND PENSIONS 151


APPENDIX ELIST OF REGISTERED PENSION PLANSLIST OF PENSION PLANS REGISTERED AS AT 31ST DECEMBER 2006SELF-ADMINISTERED PENSION FUND PLANS1. Agostini Insurance Brokers Limited Pension Fund Plan2. Agostini’s Limited Retirement Plan3 Airports Authority of Trinidad and Tobago Pension Fund4. Ansa Mc Al Limited Pension Fund Plan5. Associated Brands Limited Group Pension Fund Plan6. Atlantic LNG Pension Plan7 Bank of Commerce Trinidad and Tobago Limited Retirement Plan8. Bawodes Limited Pension Fund Plan9. Berger Paints Trinidad Limited Pension Plan (Monthly PaidEmployees)10. BPTT LLC Pension Plan11. British American Insurance Company (Trinidad) Limited PensionFund Plan12. British Gas Trinidad Limited Pension Plan13. B.W.I.A. Pilots Pension Fund Plan14. Caribbean Industrial Research Institute Pension Plan15. Caribbean Ispat Employees Pension Fund Plan16. Central Bank of Trinidad and Tobago Pension Fund Plan17. Citibank (Trinidad and Tobago) Limited Pension Fund Plan18. Coca Cola Bottling (Trinidad and Tobago) Limited Pension FundPlan19. Consolidated Insurance Consultants Limited Staff Pension FundPlan20. Coopers and Lybrand Pension Fund Plan21. Courts (Trinidad) Limited Pension Fund Plan152REPORT ON INSURANCE AND PENSIONS


Appendix eLIST OF PENSION PLANS REGISTERED AS AT 31ST DECEMBER 2006SELF-ADMINISTERED PENSION FUND PLANS22. Cuna Caribbean Insurance Society Limited Pension Fund Plan23. Development Finance Limited Pension Plan24. EOG Resources Trinidad Limited Pension Fund Plan25. E&Y Services Limited Pension Scheme26. Ferreira Optical Limited Pension Fund Plan27. First Citizen Bank Pension Plan28. Guyana and Trinidad Mutual Fire Insurance Company LimitedPension Plan29. Hand Arnold (Trinidad) Limited Employees Pension Scheme30. H.S. Services Limited Pension Fund Plan31. Hydro Agri Trinidad Limited Hourly Paid Employees PensionScheme32. Hydro Agri Trinidad Limited Salaried Employees Pension Plan33. Industrial Agencies Limited Pension Fund Plan34. IBM Retirement Plan35. Lever Brothers (West Indies) Limited Pension Plan36. Mandev-Qualassure Pension Fund Plan37. Mega Insurance Company Limited Pension Plan38. MTS Pension FundPlan39. National Gas Company Pension Fund Plan40. National Insurance Board Pension Fund Plan41. National Insurance Property Development Company LimitedPension Fund PlanREPORT ON INSURANCE AND PENSIONS 153


Appendix eLIST OF PENSION PLANS REGISTERED AS AT 31ST DECEMBER 2006SELF-ADMINISTERED PENSION FUND PLANS42 National Union of Government and Federated Workers PensionFund Plan - Elected Officers43. National Union of Government and Federated Workers StaffPension Fund Plan44. Neal and Massy Group Pension Plan45. Nestle Trinidad and Tobago Limited Pension Fund Plan46. Nestle Trinidad and Tobago Limited Unionised Employees’Pension Plan47. Niherst Pension Fund Plan48 PCS Nitrogen Trinidad Limited Pension Fund Plan 1 (formerlyArcadian Trinidad )49. PCS Nitrogen Trinidad Limited Pension Fund Plan 2 (formerlyTrinidad and Tobago Urea)50. Pheonix Park Gas Processors Limited Pension Plan51 Point Lisas Industrial Development Corporation Pension FundPlan52. Port Authority of Trinidad and Tobago Pension Plan (Daily andWeekly)53. Port Authority of Trinidad and Tobago Pension Plan (Monthly)54. Price WaterhouseCoopers Limited Pension Plan55. RBTT Pension Plan56. Regional Health Authority Pension Plan57. Republic Bank of Trinidad and Tobago Limited Pension Plan58. Scotiabank Trinidad and Tobago Limited Pension Fund Plan59. Servol Limited Pension Fund Plan154REPORT ON INSURANCE AND PENSIONS


list of registered pension plansLIST OF PENSION PLANS REGISTERED AS AT 31ST DECEMBER 2006SELF-ADMINISTERED PENSION FUND PLANS60. Telecommunications Services of Trinidad and Tobago LimitedPension Fund Plan61. Texaco Trinidad Limited Staff Retirement Plan62. The Demerara Life Assurance Company of Trinidad andTobago Limited Sales Staff Pension Plan63. The Home Mortgage Bank Pension Fund Plan64. The Mercantile Banking and Finance Corporation LimitedPension Fund Plan65. Thomas Peake and Company Limited Pension Plan66. Trinidad Building and Loan Association Pension Fund Plan67. Trinidad Cement Limited Employees Pension Fund Plan68. Trinidad Hilton Limited Pension Fund Plan69. Trinidad and Tobago Electricity Commission Pension FundPlan70. Trinidad and Tobago Electricity Commission Provident Fund71. Trinidad and Tobago External Telecommunications CompanyLimited Pension Fund Plan72. Trinidad and Tobago Methanol Company Limited PensionFund Plan73. Trinidad and Tobago National Petroleum Marketing CompanyLimited Contributory Pension Plan I74. Trinidad and Tobago National Petroleum Marketing CompanyLimited Contributory Pension Plan II75. Trinidad and Tobago Oil Company Limited ContributoryPension Fund “A”76. Trinidad and Tobago Oil Company Limited ContributoryPension Fund “B”REPORT ON INSURANCE AND PENSIONS 155


Appendix eLIST OF PENSION PLANS REGISTERED AS AT 31ST DECEMBER 2006SELF-ADMINISTERED PENSION FUND PLANS77. The Trinidad and Tobago Oil Company Limited Non-Contributory Pension Fund78. Trinidad and Tobago Oil Company Limited Employees’ BenefitPlan79. Trinidad and Tobago Oil Company Limited Staff RetirementPlan80. Trinidad and Tobago Petroleum Company Limited EmployeesPension Fund Plan81. Trinidad and Tobago Petroleum Company Limited StaffPension Fund Plan82. Trinidad and Tobago Port Contractors Limited Pension FundPlan83. Trinidad and Tobago Telephone Company Limited StaffPension Fund Plan84. Trinidad and Tobago Unit Trust Corporation Pension FundPlan85. Trinmar Limited Employees Benefit Plan86. Trintoplan Consultants Limited Staff Pension Plan87. T. Geddes Grant Limited Pension Fund Plan88. T. Geddes Grant (Trinidad) Staff Savings and Pension FundPlan89. Water and Sewerage Authority Pension Plan90. West Indian Tobacco Company Pension Plan91. Y. De Lima & Company Limited Staff Pension Fund Plan156REPORT ON INSURANCE AND PENSIONS


list of registered pension plansINSURED PENSION FUND PLANS1. Albrosco Limited Staff Pension Plan2. All Trinidad Sugar and General Workers Trade Union Staff PensionFund Plan3. Alstons Limited Pension Fund Plan4. Anthony N. Sabga Limited Pension Fund Plan5 Angostura Bitters (Dr. J. G. B. Siegert & Sons) Limited PensionFund Plan6. Armour’s Funeral Homes Limited Pension Fund Plan7. ASA Wright Nature Centre Pension Fund Plan8. Barbados Mutual Life Assurance Society Employees Pension Plan9. Bel Air International Airport Hotel Limited Pension Plan10. Berger Paints Trinidad Limited Pension Fund Plan for Weekly-PaidEmployees11. Bermudez Biscuit Company Limited Pension Plan12. British High Commission Pension Fund13. Bristol Myers (West Indies) Limited Pension Fund Plan14. BWIA General Staff Pension Plan15. Caribbean Bulk Storage and Trading Company Limited PensionFund Plan16. Caribbean Packaging Industries Limited Fund Pension Plan forSenior Staff Employees17. Caribbean Packaging Industries Limited Pension Fund Plan forJunior Staff Employees18. CBP Limited Pension Plan19. Century Eslon Limited Pension Plan20. Clark & Battoo Limited Pension PlanREPORT ON INSURANCE AND PENSIONS 157


Appendix eINSURED PENSION FUND PLANS (continued)21. Clico Investment Bank Limited Staff Pension Fund Plan22. C.M.B. Packaging Trinidad Limited Pension Fund Plan23. Coates Brothers (Caribbean) Limited Pension Plan24. Colonial Fire and General Insurance Company Limited PensionPlan25. Colonial Life Insurance Company (Trinidad) Limited StaffPension Plan26. Diego Martin Credit Union Co-operative Society Limited StaffPension Fund Plan27 Eric Solis Marketing Limited Staff Pension Plan28. F.T.Farfan and Sons Limited Pension Plan29. Furness Trinidad Limited Pension Fund Plan30. Fujitsu ICL Caribbean Trinidad Limited (formerly InternationalComputers Limited) Pension Fund Plan31. Grace Kennedy (Trinidad and Tobago) Limited Pension FundPlan32. Group Pension Plan for the Managerial Employees ofAmerican Life and General Insurance Company (Trinidad)Limited33. Group Pension Plan for the Non-Managerial Employees ofAmerican Life and General Insurance Company (Trinidad)Limited34. Gulf Engineering Services Limited Pension Fund Plan35. Gulf Insurance Limited Pension Fund Plan36. Halliburton Trinidad Limited Pension Plan37. Home Construction Limited Staff Pension Fund Plan38. Inglefield/Ogilvy Mather Pension Fund Plan158REPORT ON INSURANCE AND PENSIONS


list of registered pension plansINSURED PENSION FUND PLANS (continued)39. Insurance Brokers West Indies Limited Pension Fund Plan40. J. N. Harriman & Company Limited Pension Plan41. Johnson and Johnson (Trinidad) Limited Staff Pension Plan42. Joseph Charles Bottling Works and Investments Limited PensionFund Plan43. J.T.A. Supermarkets Limited Pension Fund Plan44. Junior Schools Limited Pension Fund Plan45. Lake Asphalt of Trinidad and Tobago (1978) Limited (Monthly)Pension Plan46. Lake Asphalt of Trinidad and Tobago (1978) Limited Employees(Weekly) Pension Plan47. Lange Trinidad Limited Pension Fund Plan48. Lazzari and Sampson Limited Pension Plan49 Life of Barbados Limited Pension Plan50. L. J. Williams Limited Pension Fund Plan51. Lonsdale/Saatchi & Saatchi Advertising Limited Staff PensionPlan52. Maritime Life (Caribbean) Limited Pension Fund Plan53. Master Mix of Trinidad & Tobago Limited Staff Pension FundPlan54. McCann Erickson (Trinidad) Limited Pension Fund Plan55. Medianet Limited Monthly Paid Staff Pension Plan56. 3M Interamerica Inc. Trinidad and Tobago Division Pension FundPlan57. National Agro Chemicals Limited Pension Fund PlanREPORT ON INSURANCE AND PENSIONS 159


Appendix eINSURED PENSION FUND PLANS (continued)58. National Flour Mills Limited Pension Fund Plan for Employees ofthe Company59. National Helicopter Services Limited Pension Fund Plan60. Navarro’s Shipping Limited Pension Plan61. N.E.M. (West Indies) Limited Pension Fund Plan62. Oilfields Workers Trade Union Staff Pension Fund Plan63. Pepsi –Cola Trinidad Bottling Company Limited. Pension Plan64. Perreira & Company Limited Staff Pension Fund Plan65. Prestige Holdings Limited Pension Fund Plan66. Print - A - Pak Limited Pension Plan67. R. B. P. Elevator and Escalator Limited Pension Plan68. Rentokil (Trinidad) Limited Pension Fund Plan69. Rhand Credit Union Co-operative Society Limited Pension Plan70. Royal Caribbean Insurance Company Limited Group PensionFund Plan71. Sealand Service Inc. Pension Plan72. Selco Limited Pension Fund Plan73. Stellar Distributors (Trinidad) Staff Pension Plan74. Small Business Development Company Limited Staff PensionFund Plan75. Southern Medical Clinic Limited Pension Fund Plan76. Southern Sales and Services Company Limited Pension Plan77. TECU Credit Union Co-operative Society Limited Pension FundPlan78. Tatil Life Sales Representatives Pension Plan160REPORT ON INSURANCE AND PENSIONS


list of registered pension plansINSURED PENSION FUND PLANS (continued)79. The Agents of American Life and General Insurance Company(Trinidad) Limited Pension Scheme80. The Beacon Insurance Company Limited Pension Plan forMonthly and Weekly Paid Employees81. The Group Pension Plan for the Non-Professional Employees ofFitzstone Limited.82. The Institute of Marine Affairs Pension Plan83. The Myerson Tooth Company Limited Pension Fund Plan84. The Synod of the Presbyterian Church in Trinidad Pension Plan85. The Trinidad Pilots and Berthing Masters Association LimitedPension Fund Plan86. The University of the West Indies (St. Augustine) Staff PensionFund Plan87. Tourism and Industrial Development Company of Trinidad AndTobago Pension Plan88. Toyota Trinidad and Tobago Staff Pension Plan89. Trinidad Concrete Products Company Limited Pension FundPlan90. Trinidad Contractors Limited Pension Plan91. Trinidad Express Newspapers Limited Pension Plan92. Trinidad Nitrogen Company Limited Staff Pension Fund Plan93. Trinidad Ropeworks Limited Retirement Plan94. Trinidad Systems Limited Pension Fund Plan95. Trinidad and Tobago Chamber of Commerce Pension Plan96. Trinidad and Tobago Forest Products Limited Staff PensionFund PlanREPORT ON INSURANCE AND PENSIONS 161


Appendix eINSURED PENSION FUND PLANS (continued)97. Trinidad and Tobago Mortgage Finance Company LimitedPension Plan98. Trinidad and Tobago Solid Waste Management CompanyLimited Pension Fund Plan99. United States of America Embassy in Trinidad and TobagoPension Fund Plan100. Waste Disposals Limited Pension Fund Plan101. Western Scientific Company Pension Plan102. William H. Scott Limited Pension Fund Plan103. Youth Training Employment Partnership Programme PensionPlan162REPORT ON INSURANCE AND PENSIONS


list of registered pension plansANNUITIES1. A.S. Bryden and Sons (Trinidad) Limited Pension Fund Plan2. Baroid Trinidad Services Limited Staff Pension Fund Plan3. Coconut Growers Association Pension Fund Plan4. Laughlin and De Gannes and its Associated Companies StaffPension Fund Plan5. Penta Paints (Caribbean) Limited Pension Plan6. The Incorporated Trustees of the Anglican Church in theDiocese of Trinidad and Tobago Pension PlanWINDING UP PENSION FUND PLANS1. Aviation Services Trinidad and Tobago Limited Pension FundPlan2. Associated Battery and Metal Industries Trinidad LimitedPension Fund Plan3. B.H.Rose Limited Pension Fund Plan4. Bottlers Limited Pension Fund Plan5. British Airways Staff Pension Plan6. C. Lloyd Trestrail & Company Limited Pension Plan7. Cliffs and Associates Limited Pension Plan8. CTC Electronics Limited Pension Plan9. Caroni (1975) Limited Employees Pension Plan10. Caroni (1975) Limited Daily Paid Employees ContributoryPension Plan11. Caroni (1967) Limited Pension PlanREPORT ON INSURANCE AND PENSIONS 163


Appendix eWINDING UP PENSION FUND PLANS12. Colgate Palmolive (Caribbean) Inc. Pension Fund Plan13. Colonial Life Insurance Company (Trinidad) Limited AgentsPension Plan14. Corbin Compton Limited Staff Pension Plan15. Crown Life Caribbean Limited Employees Pension Fund Plan16. Employers Consultative Association Pension Fund Plan17. Electrotec Services Limited Pension Fund Plan18. F.W. Woolworth Limited Pension Fund Plan19. George Wimpey Caribbean Limited Pension Plan20. General Building and Loan Association Staff Pension Fund Plan21. Goellnicht and Stollmeyer (Marketing) Limited Pension FundPlan22. Gordon Grant Staff Pension Plan23. Guardian Life of the Caribbean Limited Pension Fund Plan24. Industrial Development Corporation Pension Plan25. Insurance Consultants Limited. (Antilles Insurance Limited)26. International Loss Adjusters Limited Pension Plan27. KLM (Trinidad and Tobago) Pension Fund Plan28. Label House Limited Staff Pension Plan29. Metal Industries Company Pension Plan30. National Broadcasting Services of Trinidad and Tobago PensionFund Plan31. Nationwide Staff “A” Pension Plan32. Nationwide Staff “B” Pension Plan164REPORT ON INSURANCE AND PENSIONS


list of registered pension plansWINDING UP PENSION FUND PLANS33. Nationwide Staff “C” Pension Plan34. Orange Grove National Company Limited Pension Fund Plan35. Premier Consolidated Oilfields Limited Pension Plan36. Rediffusion (Trinidad) Limited Pension Plan37. Reinsurance Company of Trinidad and Tobago Limited PensionFund Plan38. Santana Services Limited Pension Fund Plan39. Sissons Paints Limited Staff Pension Fund Plan40. Smith International Inc. Pension Fund Plan41. Stephen and Ross Limited Pension Fund Plan42. Super Chem Pension Fund Plan43. Sherwin Williams (Caribbean) N.V. Pension Plan44. The National Commercial Bank of Trinidad and Tobago PensionPlan45. The Shipping Corporation of Trinidad and Tobago LimitedPension Fund Plan46. Trinidad Broadcasting Company Limited Pension Fund Plan47. Trinidad and Tobago Oil Company Limited Provident Fund48 Trinidad and Tobago Television Company Limited Pension FundPlan49. Trinidad Shipping Company Limited Pension Fund Plan50. Trinidad Textile Manufacturing Company Limited Pension FundPlan51. Trinidad and Tobago Export Development Corporation PensionFund PlanREPORT ON INSURANCE AND PENSIONS 165


Appendix eWINDING UP PENSION FUND PLANS52. Trinidad and Tobago Printing and Packaging Company PensionFund53. Van Leer Containers Trinidad Limited Pension Fund Plan54. Victoria Nursing Home Pension Fund Plan55. Workers Bank of Trinidad and Tobago Limited Pension FundPlanJUDICIAL MANAGEMENT1. West Indian National Insurance Company Pension Fund Plan166REPORT ON INSURANCE AND PENSIONS


TABLESTABLE IREVENUE ACCOUNT IN RESPECT OF LONG-TERM INSURANCE - 2006INCOMECOMPANIES FUNDS AT THEBEGINNINGOF THE YEARPREMIUMS CONSIDERATION FORTOTALANNUITIES AND OTHERPREMIUMSDEPOSITSCOMMISSIONRECEIVEDnetInterestOther TransfersfromReservesTOTAL1.2.3.4.5.6.7.Other OtherSINGLE SINGLELOCAL $ $ $ $ $ $ $ $ $$ $American Life and General Insurance Co. (T&T) Ltd 890,679,391(75,705) 80,273,32962,215,646 142,413,270 177,888 40,892,231 8,638,3431,082,801,123Bancassurance Caribbean LimitedBritish-American Insurance Company (Trinidad) Ltd.Caribbean Atlantic Life Insurance Company (T&T) Ltd.Caribbean Insurance Company Ltd.Colonial Life Insurance Company (Trinidad) Ltd.Cuna Caribbean Insurance Society Ltd.84,634,630357,642,9516,877,7928,537,396,4517,999,5383,267,8743,365,73319,953,563207,991115,861,07459,130,13195,98945,952,693128,107219,526,01313,7123,129,457,0436,857,703239,479,576221,7033,291,270,81059,130,13117,552,87052,210,431971,41381,939,6944,363,071(7,116,495)(18,953,221)(407,285)486,144,816123,851101,928,708630,379,7377,663,62312,396,751,77171,616,5918.9.10.11.12.13.14.15.16.17.Demerara Life Assurance Company of T&T Ltd.Guardian General Insurance LimitedGuardian Life of the Caribbean Ltd.Maritime Life (Caribbean) Ltd.Mega Insurance Company Ltd.Nationwide Insurance Company Ltd.Scotialife Trinidad and Tobago Ltd.Tatil Life Assurance Ltd.The Beacon Insurance Company Ltd.The Reinsurance Company of Trinidad and Tobago Ltd.390,9222,721,278,823791,023,902123,903,00046,282,49486,402,443455,403,83150,000574,5077,544,89667,31818,639,267273,185(6,708)101,148,53863,756,39917,780,6591,838,83027,153,8659,137,365114,348105,392N O A C C O U N T S U B M I T T E D42,844,1211,823,43666,32615,248,1988,738,2601,049,186(6,708)151,603,88180,895,35126,518,9192,888,016302,704 2,631,495 48,727,33155,722,919 65,133,469 755,810 68,734,389 47,209,721114,348105,3924,067317,748 162,634,976 386,787,013108,234 5,520,670 6,834,37826,5164,63451,260,697 26,384,4944,065,2746,392,97520,694(314,141)2,817,356388,2813,422,622,440949,564,444162,885,20152,921,643144,340,105637,237,220195,498700,59318.19.The Western General Insurance Company Ltd.United Security Life Insurance Company Ltd.16,114,996R E G I S T R A T I O N B E I N G C A N C E L L E D207,441207,441517,411 (739,332)16,100,5161.2.TOTALCARIBBEANLife of Barbados Ltd.Sagicor Life Inc.14,126,655,6711,696,715,30129,716,835116,502,187500,027,94915,325,57891,018,94391,703,8803,494,796,90527,528,0534,115,560,632 1,386,196 497,085,498 937,409,497251,059,698 5,149,451 117,927,572 30,706,80419,678,097,4942,101,558,8261.2.3.TOTALOTHERLincoln Assurance Ltd.Cuna Mutual Insurance SocietySun Life Assurance Company of CanadaTOTALGRAND TOTAL1,696,715,301456,986456,98615,823,827,958116,502,187 15,325,578 91,703,880 27,528,053 251,059,698 5,149,451 117,927,572 30,706,80436,391146,219,022 515,389,918 182,722,823 3,522,324,95836,3914,366,656,721 6,535,64759,399615,072,46935,059968,151,3602,101,558,82636,39136,39159,39935,059587,835587,83521,780,244,155---------------------------------------------------------------------------------------REPORT ON INSURANCE AND PENSIONS 167


TABLESTABLE I continued1COMPANIESLOCALAmerican Life and General InsuranceCompany (T&T) Ltd.REVENUE ACCOUNT IN RESPECT OF LONG-TERM INSURANCE - 2006EXPENDITURECLAIMS Surrender(includingSurrenderof Bonuses)DEATH MATURITIES OTHERTotalPolicyPayments COMMISSIONS Salaries andother Expenses ofManagementInterest thereonAnnuities OTHER EXPENSES TOTALOther Funds at theend of theYear$ $ $ $ $ $ $ $ $$ $11,700,4432,714,99312,163,29028,463,6284,070,53359,112,88717,516,35845,581,77416,101,055954,680,419Transfersto Profitand Loss(10,191,369)$1,082,801,1232 Bancassurance Caribbean Limited3,763,931495,5172,597,568 3,218,996125,239 10,201,251(40,392) 2,908,762184,679 87,199,5781,474,829 101,928,7083British-American Insurance Company(Trinidad) Ltd.2,223,213498,926348,8467,041,50245,857,33255,969,81914,148,44618,064,765534,560,6147,636,093630,379,7374Caribbean Atlantic Life InsuranceCompany (T&T) Ltd.61,00083,115288,98459,817492,91626170,9316,570,637429,1137,663,6235Caribbean Insurance Company Ltd.6Colonial Life Insurance Company(Trinidad) Ltd.79,708,48473,403,1976,151,0651,804,029,768376,953,3272,340,245,841120,230,692180,031,696(24,575,987)9,827,755,416(46,935,887)12,396,751,7717 Cuna Caribbean Insurance Society Ltd.37,739,94997,569426,00338,263,521 3,306,415 11,488,228227,0068,092,447 10,238,974 71,616,5918Demerara Life Assurance Company ofT&T Ltd.N O A C C O U N T S U B M I T T E D9 Guardian General Insurance Limited1,4121,412(13,850)(19,510)232,818187,412388,28110 Guardian Life of the Caribbean Ltd.21,316,1371,638,7161,604,097 295,142,305 87,724,982 407,426,236 82,394,925 227,151,029486,352 2,765,346,249 (60,182,351) 3,422,622,44011 Maritime Life (Caribbean) Limited5,580,130 13,799,740 12,684,031 13,252,104 11,119,956 56,435,961 14,100,403 57,035,704 1,346,091 818,858,5541,787,731 949,564,44412 Mega Insurance Company Limited2,923,8743,091,116164,162 10,206,45516,385,607 1,832,781 13,607,899759,347 139,857,992 (9,558,425) 162,885,20113 Nationwide Insurance Company Ltd.634,220208,98364,163 1,502,975 2,702,286 5,112,62713,282 1,213,17642,959,1723,623,386 52,921,64314 Scotialife Trinidad and Tobago Ltd.265,71919,912 5,820,0466,105,677166,939 7,063,285133,031,880 (2,027,676) 144,340,10515 Tatil Life Assurance Ltd.3,837,1629,942,6797,014,002 19,448,022 3,852,646 44,094,511 6,799,827 12,792,564 2,010,262 492,135,871 79,404,185 637,237,22016 The Beacon Insurance Company Ltd.(28,500)(28,500)5,91741,21920,71564,84691,301195,49817The Reinsurance Co. of Trinidad andTobago Ltd.27,26027,26013,96661,600531,09666,671700,5931819The Western General Insurance Co. Ltd.United Security Life Insurance Co. Ltd.439,31624,054R E G I S T R A T I O N B E I N G C A N C E L L E D40424,20854,574 542,55653,53115,504,42916,100,516TOTAL170,222,250 105,901,037 42,880,608 2,188,864,996 532,520,691 3,040,389,582 260,475,736 577,246,653 (3,440,481) 15,827,382,017 (23,956,012) 19,678,097,494CARIBBEAN1.2.Life of Barbados Ltd.Sagicor Life Inc.TOTAL12,555,23012,555,23013,906,87013,906,8702,258,8822,258,88264,485,60064,485,60061,116,62561,116,625154,323,207154,323,20725,867,98625,867,98639,900,93239,900,9321,810,294,6861,810,294,68671,172,01471,172,0142,101,558,8252,101,558,825OTHER1.2.Cuna Mutual Insurance SocietySun Life Assurance Company of CanadaTOTAL46,30146,30164,06564,065110,366110,36672,37172,371465,317465,317(60,219)(60,219)587,835587,835GRAND TOTAL182,823,781 119,807,907 45,203,555 2,253,350,596 593,637,316 3,194,823,155 286,343,722 617,219,956 (3,440,481) 17,638,142,020 47,155,783 21,780,244,154--------------------------------------------------------168REPORT ON INSURANCE AND PENSIONS


TABLESTABLE IIREVENUE ACCOUNT IN RESPECT OF ORDINARY LIFE, PENSION AND ANNUITY INSURANCE - 2006INCOMECOMPANIES FUNDS AT THEBEGINNINGOF THE YEARPREMIUMS CONSIDERATION FORANNUITIESTOTALPREMIUMSCOMMISSIONRECEIVEDNET Interest Other TransfersfromReservesTOTALOther OtherSINGLE SINGLELOCAL $ $ $ $ $ $ $ $ $$ $1.American Life and General Insurance Company(T&T) Ltd684,353,955(75,705)72,259,13723,842,06696,025,49830,154,2498,638,342819,172,0442. Bancassurance Caribbean Limited73,491,110118,112 3,365,73395,989128,107 3,707,94014,885,251 (6,037,026)86,047,2753. British-American Insurance Company (Trinidad) Ltd. 354,046,37419,087,908219,526,013 238,613,92151,775,955 (18,735,651)625,700,5994. Caribbean Atlantic Life Insurance Co. (T&T) Ltd.6,877,792207,99113,712221,703971,413 (407,285)7,663,6235. Colonial Life Insurance Company (Trinidad) Ltd. 832,884,044108,270,947108,270,9476,707,161947,862,1526. Cuna Caribbean Insurance Society Ltd.7,999,538661,453661,4531,715,583123,85110,500,4257.Demerara Life Assurance Company of T&T Ltd.N O A C C O U N T S U B M I T T E D8. Guardian Life of the Caribbean Ltd.621,220,932(37,864) 101,148,538 42,844,12166,326 144,021,12140,217,335 64,576,830870,036,2199. Maritime Life (Caribbean) Ltd.744,198,65667,318 54,361,665 1,823,436 15,248,198 71,500,61749,056,235 26,085,901890,841,40910. Mega Insurance Company Ltd.123,903,00017,780,6598,738,260 26,518,919 108,2345,520,670 6,834,378162,885,20111. Nationwide Insurance Company Ltd.46,282,4941,838,8301,049,186 2,888,0164,065,274 (314,141)52,921,64312. Scotialife Trinidad and Tobago Ltd.86,402,443 14,949,905 27,153,865302,704 2,631,495 45,037,9695,908,934 2,817,356140,166,70213. Tatil Life Assurance Ltd.325,910,8374,152,22455,722,919 59,875,143 755,810 35,457,884 22,031,991444,031,66514. The Reinsurance Co. of Trinidad and Tobago Ltd.574,507105,392105,39220,694700,59315The Western General Insurance Company Ltd.R E G I S T R A T I O N B E I N G C A N C E L L E D16 United Security Life Insurance Company Ltd.16,114,996207,441207,441517,411 (739,332)16,100,516TOTAL3,924,260,678 15,021,766 410,601,782 45,066,250 326,966,283 797,656,080 864,044 246,974,050 104,875,2145,074,630,0661.2.CARIBBEANLife of Barbados Ltd.Sagicor Life Inc.1,285,128,065 116,502,18791,703,880208,206,067 4,047,877 88,816,039 35,623,5701,621,821,618TOTAL1,285,128,065 116,502,18791,703,880208,206,067 4,047,877 88,816,039 35,623,5701,621,821,618OTHER1.2.3.Lincoln Assurance Ltd.Cuna Mutual Insurance SocietySun Life Assurance Company of CanadaTOTAL456,986456,98621,88621,88621,88621,88659,39959,39935,05935,059573,330573,330GRAND TOTAL5,209,845,729 131,523,953 410,623,668 136,770,130 326,966,283 1,005,884,033 4,911,921 335,849,488 140,533,8436,697,025,014---------------------------------------------------------------------------REPORT ON INSURANCE AND PENSIONS 169


TABLESTABLE II continuedREVENUE ACCOUNT IN RESPECT OF ORDINARY LIFE, PENSION AND ANNUITY INSURANCE - 2006EXPENDITURECOMPANIES CLAIMS Surrender(includingSurrenderofBonuses)AnnuitiesPolicyPaymentsOther EXPENSES OTHERCommissionsSalaries andotherExpenses ofManagementFunds attheend of theYearTransferstoProfitand LossDEATH MATURITIES OtherLOCAL $ $ $ $ $ $ $ $$ $$$TOTAL1.American Life and General Insurance Company(T&T) Ltd5,361,3132,714,99312,163,29023,644,14543,883,74111,139,80430,972,36815,989,061732,133,781(14,946,709)819,172,0442. Bancassurance Caribbean Limited1,387,340 495,517 2,597,568 3,218,996 125,239 7,824,660 (40,392) 1,572,759 141,655 72,278,347 4,270,246 86,047,2753. British-American Insurance Company (Trinidad) Ltd. 2,114,680 474,971 348,550 7,040,352 45,857,332 55,835,885 13,726,731 17,972,438530,811,001 7,354,544 625,700,5994. Caribbean Atlantic Life Insurance Co. (T&T) Ltd.61,000 83,115288,98459,817 492,91626170,9316,570,637 429,113 7,663,6235. Colonial Life Insurance Company (Trinidad) Ltd. 13,539,675 11,181,855 1,304,052 12,283,13238,308,714 15,036,077 47,548,054846,969,307947,862,1526. Cuna Caribbean Insurance Society Ltd.74,64797,569 426,003598,219 26,708 1,335,016 89,225 8,092,447 358,810 10,500,4257.Demerara Life Assurance Company of T&T Ltd.N O A C C O U N T S U B M I T T E D8. Guardian Life of the Caribbean Ltd.17,073,510 1,638,716 1,604,097 8,576,866 59,165,811 88,059,000 82,041,437 117,081,666643,600,264 (60,746,148) 870,036,2199. Maritime Life (Caribbean) Ltd.5,580,130 13,799,740 6,708,453 13,252,104 11,119,956 50,460,383 13,842,517 56,301,282 1,346,091 768,118,205 772,930 890,841,40810. Mega Insurance Company Ltd.2,923,874 3,091,116 164,162 10,206,45516,385,607 1,832,781 13,607,899 759,347 139,857,992 (9,558,425) 162,885,20111. Nationwide Insurance Company Ltd.634,220 208,98364,163 1,502,975 2,702,286 5,112,627 13,282 1,213,17642,959,172 3,623,386 52,921,64312. Scotialife Trinidad and Tobago Ltd.242,48219,912 5,820,0466,082,4406,528,493130,845,955 (3,290,186) 140,166,70213. Tatil Life Assurance Ltd.3,542,620 9,942,679 1,522,388 16,476,500 1,938,930 33,423,117 6,717,145 12,152,936 1,071,470 350,429,523 40,237,474 444,031,66514. The Reinsurance Co. of Trinidad and Tobago Ltd.27,26027,260 13,96661,600531,096 66,671 700,59315The Western General Insurance Company Ltd.R E G I S T R A T I O N B E I N G C A N C E L L E D16 United Security Life Insurance Company Ltd.439,316 24,054404 24,208487,98253,53115,559,00316,100,516TOTAL53,002,067 43,655,740 26,594,607 102,760,766 120,969,371 346,982,551 144,350,082 306,572,149 19,396,849 4,288,756,730 (31,428,295) 5,074,630,0651.2.CARIBBEANLife of Barbados Ltd.Sagicor Life Inc.10,079,032 13,906,870 2,258,882 64,485,600 33,511,840124,242,224 22,808,431 36,763,4251,402,667,130 35,340,408 1,621,821,618TOTAL10,079,032 13,906,870 2,258,882 64,485,600 33,511,840 124,242,224 22,808,431 36,763,4251,402,667,130 35,340,408 1,621,821,618OTHER1.2.3.Lincoln Assurance Ltd.Cuna Mutual Insurance SocietySun Life Assurance Company of CanadaTOTAL16,80116,80162,62962,62979,43079,43072,37172,371465,317465,317(43,788)(43,788)573,330573,330GRAND TOTAL63,097,900 57,562,610 28,916,118 167,246,366 154,481,211 471,304,205 167,158,513 231,977,002 19,396,849 5,691,889,177 3,868,325 6,697,025,014------------------------------------------170REPORT ON INSURANCE AND PENSIONS


1.2.3.4.1.2.3.4.TABLESTABLE IIIREVENUE ACCOUNT IN RESPECT OF INDUSTRIAL LIFE INSURANCE - 2006INCOMECOMPANIES FUNDS AT THEBEGINNINGOF THE YEARPREMIUMS CONSIDERATION FORANNUITIESTOTALPREMIUMSCOMMISSIONRECEIVEDNET Interest Other TransfersfromReservesTOTALLOCALOther OtherSINGLE SINGLE$ $ $ $ $ $ $ $$ $ $British-American Insurance Company (Trinidad) Ltd. 3,559,347246,371246,371429,454(211,013)4,024,159Colonial Life Insurance Company (Trinidad) Ltd.The Goodwill General Insurance Company Ltd.U N D E R I N T E R V E N T I O NThe Western General Insurance Company Ltd.R E G I S T R A T I O N B E I N G C A N C E L L E DTOTAL3,559,347.00246,371.00246,371.00429,454 (211,013.00)4,024,159EXPENDITURECOMPANIES CLAIMS Surrender(includingSurrenderofBonuses)DEATH MATURITIES OTHERBonusespaid inCashAnnuities TotalPolicyPaymentsOTHER EXPENSESCommissionsSalaries andotherExpenses ofManagementOtherFunds atthe endof theYearTransferstoProfitand LossTOTALLOCALBritish-American Insurance Company (Trinidad) Ltd. 42,237 23,9552961,15067,638 207,808 48,6553,701,930 (1,872) 4,024,159Colonial Life Insurance Company (Trinidad) Ltd.The Goodwill General Insurance Company Ltd.U N D E R I N T E R V E N T I O NThe Western General Insurance Company Ltd.R E G I S T R A T I O N B E I N G C A N C E L L E DTOTAL42,237 23,9552961,15067,638 207,808 48,6553,701,930 (1,872) 4,024,159------------------------------------------REPORT ON INSURANCE AND PENSIONS 171


1.2.3.1.2.3.TABLESTABLE IVREVENUE ACCOUNT IN RESPECT OF NON-CANCELLABLE, SICKNESS AND ACCIDENT INSURANCE - 2006INCOMECOMPANIES FUNDS AT THEBEGINNINGOF THE YEARPREMIUMS TOTALPREMIUMSCOMMISSIONRECEIVEDNET Interest OtherTOTALLOCALSINGLEOther$ $ $ $ $ $$ $American Life and General Insurance Company(T&T) Ltd.2,158,62426,840,18426,840,184177,88884,13529,260,831British-American Insurance Company(Trinidad) Ltd.37,230619,284619,2845,022(6,557)654,979Maritime Life (Caribbean) Ltd.5,577,1275,577,1275,577,127TOTAL2,195,854.0033,036,595.0033,036,595.00177,888.0089,156.92(6,557.00) 35,492,936.92EXPENDITURECOMPANIESTotalother expensesPolicyPayments COMMISSIONSExpenses ofManagementOTHER FUNDS ATTHE ENDOF THE YEARTRANSFERS TOPROFITAND LOSSTOTALLOCAL$ $ $ $ $ $$American Life and General Insurance Company(T&T) Ltd.3,338,7425,301,7578,150,8272,551,5229,917,98329,260,830.92British-American Insurance Company(Trinidad) Ltd.66,296213,90743,67247,683283,421654,979.00Maritime Life (Caribbean) Ltd.4,849,080220,411435,332072,3055,577,128.00TOTAL8,254,118.005,736,075.008,629,831.002,599,205.0010,273,708.9235,492,937.92--------------172REPORT ON INSURANCE AND PENSIONS


1.2.3.4.5.6.7.8.9.101.1.TABLESTABLE VREVENUE ACCOUNT IN RESPECT OF GROUP LIFE INSURANCE - 2006INCOMECOMPANIES FUNDS AT THEBEGINNINGOF THE YEARPREMIUMS CONSIDERATION FORANNUITIES AND OTHERDEPOSITSTOTALPREMIUMSCOMMISSIONRECEIVEDNET Interest Other TransfersfromReservesTOTALOther OtherSINGLE SINGLELOCAL$ $ $ $ $ $ $ $ $$ $American Life and General Insurance Company(T&T) Ltd.48,3678,014,1928,014,1922,0008,064,559Bancassurance Caribbean Ltd.11,143,520 3,149,7633,149,7632,667,619 (1,079,469)15,881,433Colonial Life Insurance Company (Trinidad) Ltd. 18,481,4327,590,1277,590,12776,46626,148,025Cuna Caribbean Insurance Society Ltd.30,171,91130,171,9112,365,76832,537,679Guardian General Insurance Limited390,922(6,708)(6,708)4,067388,281Guardian Life of the Caribbean Ltd.5,828,769 7,582,7597,582,759188,829 (199,857)13,400,500Maritime Life (Caribbean) Ltd.812,147812,147298,5931,110,740Scotialife Trinidad and Tobago Ltd.3,689,3623,689,362484,0414,173,403Tatil Life Assurance Ltd.462,72487,957 2,368,6272,456,5847,288,846 4,024,14014,232,294The Beacon Insurance Company Ltd.20,000110,166110,16626,5164,545161,227TOTAL36,375,734 14,509,841 49,060,46200 63,570,30326,516 13,082,182 3,043,4070 116,098,142CARIBBEANSagicor Life Inc.2,257,34015,325,57815,325,578 1,101,57449,406521,83419,255,732TOTAL2,257,34015,325,57815,325,578 1,101,57449,406521,83419,255,732OTHERSun Life Assurance Company of Canada14,50514,50514,505TOTAL14,50514,50514,505GRAND TOTAL38,633,074 14,509,841 64,400,54500 78,910,386 1,128,090 13,131,588 3,565,2410 135,368,379----------------------------------------------------------------------------------REPORT ON INSURANCE AND PENSIONS 173


TABLESTABLE V continuedREVENUE ACCOUNT IN RESPECT OF GROUP LIFE INSURANCE - 2006EXPENDITURECOMPANIES CLAIMS Surrender(includingSurrenderofBonuses)LOCALDEATHMATURITIES OTHERAnnuities TotalPolicyPaymentsOTHER EXPENSES Other TransfersCommissionsExpenses ofManagementFunds atthe endof theYeartoProfitand Loss$ $ $ $ $ $ $ $ $ $$ $TOTAL1.American Life and General Insurance Company(T&T) Ltd.3,000,3883,000,3881,031,0363,226,888111,99448,198646,0558,064,5592. Bancassurance Caribbean Ltd.2,376,5912,376,5911,336,003 43,025 14,921,231 (2,795,416) 15,881,4333. Colonial Life Insurance Company (Trinidad) Ltd. 11,729,00911,729,009 871,862 10,021,606 322,210 18,481,431 (15,278,093) 26,148,0254. Cuna Caribbean Insurance Society Ltd.21,674,44321,674,443 445,106 5,241,023 123,0545,054,054 32,537,6795. Guardian General Insurance Limited1,4121,412 (13,850) (19,510)232,818 187,412 388,2816. Guardian Life of the Caribbean Ltd.3,424,9413,424,941 296,131 2,892,4185,964,699 822,313 13,400,5017. Maritime Life (Caribbean) Ltd.80,00080,000 37,475 64,494928,771 1,110,7408. Scotialife Trinidad and Tobago Ltd.23,23723,237 166,939 534,7922,185,925 1,262,510 4,173,4039. Tatil Life Assurance Ltd.294,542294,542 81,473 255,851 401,650 467,324 12,731,454 14,232,29410. The Beacon Insurance Company Ltd.(28,500)(28,500) 5,917 40,433 17,291 50,200 75,886 161,227TOTAL42,524,56251,50042,576,062 2,922,089 23,593,997 1,019,224 42,351,826 3,634,945 116,098,142CARIBBEAN1. Sagicor Life Inc.2,476,1982,476,198 3,059,555 2,533,6922,358,040 8,828,247 19,255,732TOTAL2,476,1982,476,198 3,059,555 2,533,6922,358,040 8,828,247 19,255,732OTHER1. Sun Life Assurance Company of Canada29,5001,43630,936(16,431) 14,505TOTAL29,50030,93614,505GRAND TOTAL45,030,26051,50045,083,196 5,981,644 26,127,689 1,019,224 44,709,866 12,463,192 135,368,379-------------------------------------------------------------------------------174REPORT ON INSURANCE AND PENSIONS


1.2.3.4.5.TABLESTABLE VIREVENUE ACCOUNT IN RESPECT OF GROUP PENSION INSURANCE - 2006INCOMECOMPANIES FUNDS AT THEBEGINNINGOF THE YEARNETPREMIUMTOTALPREMIUMCOMMISSIONRECEIVEDNETINTERESTOther TOTALLOCAL$ $ $ $ $ $ $1.American Life and General Insurance Company(T&T) Ltd.204,118,44511,533,39611,533,39610,651,847226,303,6882. Colonial Life Insurance Company (Trinidad) Limited 6,702,607,490 3,120,456,979 3,120,456,97941,318,956 505,460,000 10,369,843,4253. Guardian Life of the Caribbean Ltd.89,468,2882,831,778 (2,805,073) 89,494,9934. Maritime Life (Caribbean) Ltd.46,825,2463,005,4603,005,4602,204,46252,035,1685. Tatil Life Assurance Ltd.19,915,025 2,801,742 2,801,74218,457,370 9,937,972 51,112,109TOTAL7,062,934,494 3,137,797,577 3,137,797,57775,464,413 512,592,899 10,788,789,383EXPENDITURECOMPANIES CLAIMS Surrender(includingSurrenderofBonuses)DEATH OTHERAnnuities TotalPolicyPaymentsOTHER EXPENSES Other TransferstoProfitExpenses ofand LossCommissions ManagementFunds atthe endof theYearTOTALLOCAL$ $ $ $ $ $ $ $ $ $ $American Life and General Insurance Company (T&T)Ltd.4,819,4834,070,5338,890,01643,7613,231,691(5,808,698)219,946,918226,303,688Colonial Life Insurance Company (Trinidad) Ltd.54,439,800 62,221,342 1,791,746,636 304,546,050 2,212,953,828 104,922,753 110,694,0917,941,272,753 10,369,843,425Guardian Life of the Caribbean Ltd.761,299761,299952,890(258,516) 88,039,318 89,494,992Maritime Life (Caribbean) Ltd.1,046,4981,046,498234,59613,725 50,740,349 52,035,168Tatil Life Assurance Ltd.1,913,716 1,913,7161,209383,777537,142 26,435,257 21,841,008 51,112,109TOTAL55,201,099 63,267,840 1,796,566,119 310,530,299 2,225,565,357 - 104,967,723 115,497,045537,142 20,381,769 8,321,840,346 10,788,789,382----------------------------REPORT ON INSURANCE AND PENSIONS 175


1.2.345.TABLESTABLE VIIREVENUE ACCOUNT IN RESPECT OF DEPOSIT ADMINISTRATION CONTRACTS/UNIT LINKED FUNDS - 2006INCOMECOMPANIES FUNDSBROUGHTFORWARDCONTRIBUTIONS INTEREST OtherTOTALLOCAL$ $ $ $ $1. Colonial Life Insurance Company (Trinidad) Ltd.983,423,485 54,952,757 33,837,111 (19,315,184) 1,052,898,1692.Demerara Life Assurance Company of T&T Ltd.N O A C C O U N T S S U B M I T T T E D3. Guardian Life of the Caribbean Ltd.2,004,760,8350 119,397,033 325,215,112 2,449,372,9814. Sagicor Life Inc.409,329,896 27,528,053 29,062,127 (5,438,601) 460,481,4755. Tatil Life Assurance Ltd.105,008,9960 7,317,125 11,194,718 123,520,839TOTAL3,502,523,212 82,480,810 189,613,396 311,656,045 4,086,273,463EXPENDITURECOMPANIES AnnuitYPURCHASEDSurrenderofUnitsClaims AdministrationFeesCommissionsPaidMANAGEMENTEXPENSESOther FUNDSTOTALCARRIEDFORWARDLOCAL$ $ $ $ $ $ $ $ $Colonial Life Insurance Company (Trinidad) Ltd.72,407,2774,847,013(600,000)11,767,945(56,555,991) 1,021,031,925 1,052,898,169Demerara Life Assurance Company of T&T Ltd.N O A C C O U N T S S U B M I T T T E DGuardian Life of the Caribbean Ltd.28,559,170286,565,43956,38757,357.37 105,906,308486,352 2,027,741,968 2,449,372,981Sagicor Life Inc.27,604,78500603,81527,003,359405,269,516460,481,475Tatil Life Assurance Ltd.01,729,0855,491,61400116,300,140123,520,839TOTAL128,571,232288,294,52410,395,014(542,643) 118,278,068(29,066,280) 3,570,343,548 4,086,273,463--------176REPORT ON INSURANCE AND PENSIONS


TABLESTABLE VIIILONG-TERM INSURANCE BUSINESS - INSURANCE DISCONTINUED OR REDEEMED DURING 2006COMPANIESNUMBER OF POLICIESSUM ASSUREDDeath Surrender Forfeiture Lapsed Maturities Miscellaneous TOTAL Death Surrender Forfeiture Lapsed Maturities Miscellaneous TOTALLOCAL$ $$ $ $ $$ $ $ $ $ $ $ $1.American Life and General Insurance Company(T&T) Ltd.1119831,1111,4812751134,0745,996,39451,630,532100,917,219267,048,4352,988,872132,143,740560,725,1922. Bancassurance Caribbean Ltd.3814866912032395 3,092,705 79,977,433 2,458,402 8,436,596 426,965 540,496,432 634,888,5323. British-American Insurance Company (Trinidad) Ltd.756041 1,353108144 2,285 1,990,500 10,721,500 100,000 191,893,400 844,400 2,710,810 208,260,6104.Caribbean Atlantic Life Insurance Company (T&T)Ltd.51065123858,382345,773403,094281,981163,64146,2261,299,0985. Colonial Life Insurance Company (Trinidad) Ltd.659 4,4121,231 1,530 2,114 9,946 13,269,152 304,667,649230,556,703 18,925,618 98,998,908 666,418,0306. CUNA Caribbean Insurance Society Ltd.66159171198 91,000 1,792,6615,103,120 20,000 1,741,934 8,748,7157.Demerara Life Assurance Company of T&T Ltd.R E G I S T R A T I O N B E I N G C A N C E L L E D8.Guardian General Insurance Limited9. Guardian Life of the Caribbean Ltd.258 1,803 6,891 1,808519510 11,789 15,428,839 183,761,198 737,292,779 458,793,390 2,280,891 470,488,408 1,868,045,50510. Maritime Life (Caribbean) Ltd.7663811791649817 2,262 4,762,984 23,505,849 8,038,205 151,152,995 5,030,079 57,874,612 250,364,72411. Mega Insurance Company Ltd.47174150676645 1,116 2,370,272 8,256,032 5,926,709 71,470,692 1,146,934 269,539 89,440,17812. Nationwide Insurance Company Ltd.21492513. Scotialife Trinidad and Tobago Ltd.1532852220615 155,000 6,038,590 952,000 4,910,000308,000 12,363,59014. Tatil Life Assurance Ltd.67489987173130 1,846 1,731,216 23,756,87682,104,129 6,861,572 26,036,175 140,489,96815. The Beacon Insurance Company Ltd.(5,785,427) (5,785,427)16. The Reinsurance Company of T&T Limited2259261 27,2603,316,524 3,343,784TOTAL1,359 9,664 8,394 8,827 3,209 3,136 34,589 48,946,444 694,454,094 856,088,408 1,471,751,441 38,688,972 1,325,329,357 4,435,258,715CARIBBEAN1.Life of Barbados2. Sagicor Life Inc922442,493211 2,851 10,659,790 24,947,351404,076,537 731,241 100,000 440,514,919TOTAL922442,493211 2,851 10,659,790 24,947,351404,076,537 731,241 100,000 440,514,919OTHER1. Sun Life Assurance Company of Canada11 45,67245,672TOTAL11 45,67245,672GRAND TOTAL1,452 9,908 8,394 11,320 3,230 3,137 37,441 59,651,906 719,401,445 856,088,408 1,875,827,978 39,420,213 1,325,429,357 4,875,819,306--------------------------------------------------------------------------------------------REPORT ON INSURANCE AND PENSIONS 177


TABLESTABLE IXCOMPANIESLOCAL1American Life and General Insurance Company (T&T) Ltd.2.Bancassurance Caribbean Ltd.3.British-American Insurance Company (Trinidad) Ltd.4.Caribbean Atlantic Life Insurance Company (T&T)Ltd.5.Colonial Life Insurance Company (Trinidad) Ltd.6.Cuna Caribbean Insurance Society Ltd.7.Demerara Life Assurance Company of T&T Ltd.8.Guardian General Insurance Limited9.Guardian Life of the Caribbean Ltd.10.Maritime Life (Caribbean) Ltd.11.Mega Insurance Company Ltd.12.Nationwide Insurance Company13.Tatil Life Assurance Ltd.14.Scotialife Trinidad and Tobago Ltd.15.The Reinsurance Company of Trinidad and Tobago Ltd.16The Beacon Insurance Company Ltd.TOTALCARIBBEAN1.Life of Barbados Ltd.2.Sagicor Life Inc.TOTALOTHER1.Lincoln Assurance Ltd.2.Sun Life Assurance Company of CanadaTOTALGRAND TOTALNumber ofPolicies6,255117,06316,30612319,4244,0641,4011,8093,29859,7546,9046,90466,658INSURANCE IN FORCE - 2006NEW INSURANCE ISSUED DURING THE YEAR INSURANCE EXISTINGSum Assuredor Amounts ofAnnuity per AnnumAnnualPremiumsSinglePremiums andConsiderationNumber ofPoliciesSum Assuredor Amounts ofAnnuity per Annum$$ $ $819,518,65251,2916,026,346,468602,366,373199,1671,460,9935,0631,618,773,247373,827,840186,627,36440,9312,305,487,14438412,687,5411,100,392,26063,075,1012,471,153,409151,41111,829,602,615204,021,7742,822,0051,6017,704,474,984N O A C C O U N T S S U B M I T T E D3,611,475,841119,367,686288,426125,91915,521,705,659632,142,36012,123,651584,10135,2892,635,552,94281,170,6133,116,40820,7261,449,335,128(21)80,344,2164,029,59337,2172,674,809,551682,269,18040,636,19018,061,3098,630773,521,8069,34954,616,4522541,730,9258,187,529,109431,997,1662,491,548,238487,81552,648,644,4621,233,638,62151,1075,726,404,6481,233,638,62151,1075,726,404,648281,726,386281,726,3869,421,167,730431,997,1662,491,548,238538,95058,376,775,496-----------------------------------------178REPORT ON INSURANCE AND PENSIONS


TABLESTABLE XCOMPANIESLOCAL1.American Life and General Insurance Company (T&T) Ltd.2.Bancassurance Caribbean Ltd.3.British-American Insurance Company (Trinidad) Ltd.4.Caribbean Atlantic Life Insurance Company Limited5.Colonial Life Insurance Company (Trinidad) Limited6.Demerara Life Assurance Company of T&T Ltd.7.Guardian Life of the Caribbean Ltd.8.Maritime Life (Caribbean) Ltd.9.Mega Insurance Company Ltd.10.Nationwide Insurance Company11.Scotialife Trinidad and Tobago Ltd.12.Tatil Life Assurance Ltd.TOTALCARIBBEAN1.Life of Barbados Ltd.2.Sagicor Life Inc.TOTALGRAND TOTALLONG-TERM INSURANCE - ANNUITY BUSINESS 2006NUMBER OF POLICIES ANNUITY PER ANNUMGENERAL ANNUITIES ApprovedImmediate Deferred$ApprovedPensionAnnuities(Immediate)Annuity perAnnumPensionAnnuities(Deferred)Other TOTALGENERAL ANNUITIES ApprovedImmediate DeferredApprovedPensionAnnuities(Immediate)Annuity perAnnumPensionAnnuities(Deferred)Other TOTAL$ $ $ $ $$ $ $ $ $87912,7374813,664 3,598,3102,530,2816,128,59133211244 131,444131,4442019,95919,979 43,127252045 64,63164,63110,40095,688106,088 105,203,511 1,229,581,1041,334,784,615N O A C C O U N T S S U B M I T T E D5,31639,1635544,534 57,203,890 5,505,0526,032,85268,741,7941,5666,6681248,358 9,498,973 53,383,32062,882,2936,8516,851(14)(14)1,3641,36411,655,00073610,1501210,898 4,009,467 315,022,480709,498319,741,44518,975 192,797239212,011 179,753,353 1,615,146,9569,272,6311,792,474,81316,41416,41416,41416,41418,975 209,211239228,425 179,753,353 1,615,146,9569,272,6311,792,474,813--------------------------------------------------------------------------------------------------------REPORT ON INSURANCE AND PENSIONS 179


1.2.3.4.5.6.7.8.9.10.11.12.13.14.15.16.17.18.19.1.2.1.2.TABLESTABLE XISTATEMENT OF STATUTORY FUND 2006 - LIABILITIES TO POLICYHOLDERS (LONG-TERM BUSINESS)COMPANIES POLICY RESERVESDEDUCTIONSLOCALAmerican Life and General Insurance Company (T&T)LimitedOrdinaryLifeIndustrialLifeNon-CancellableSicknessand AccidentOTHER TOTAL Claimsadmitted orintimatedbut notpaidOtherReservesTotalReservesOutstandingPremiumsPolicyLoansOtherDeductionsTotal FUNDREQUIREMENT$ $ $ $ $ $$ $ $ $ $ $ $ $ $451,112,214GROUPLife48,198GROUPPENSION219,946,916283,573,091954,680,41922,832,89030,105,2391,007,618,54813,369,03888,840,689102,209,727905,408,821Bancassurance Caribbean Limited87,199,57887,199,578 7,068,303 266,923,197 361,191,078 228,721 14,366,636 704,125 15,299,482 345,891,596British-American Insurance Company ( Trinidad ) LimitedCaribbean Atlantic Life Insurance Company (T&T) Limited 6,570,6376,570,637 162,836 7,436,113 14,169,5867,745 803,961 50,086 861,792 13,307,794Caribbean Insurance Company LimitedColonial Life Insurance Company (Trinidad) Limited 846,969,30718,481,431 7,941,272,7531,021,031,925 9,827,755,416 16,699,325 27,015,892 9,871,470,633 (886,751) 86,660,775 865,873,836 951,647,860 8,919,822,773Cuna Caribbean Insurance Society Limited8,092,44743,320,864 51,413,311 19,315,192 1,439,253 72,167,756 4,875,399 2,959,9175,890 7,841,206 64,326,550Demerara Life Assurance Company of T&T LimitedGuardian General Insurance Limited232,818232,818232,818232,818Guardian Life of the Caribbean Limited2,765,346,249598,960,067 3,364,306,316 56,397,8103,420,704,126 18,039,968 20,044,152 927,397 39,011,517 3,381,692,609Maritime Life (Caribbean) Limited818,858,5547,009,569 825,868,123 9,745,202 11,725,828 847,339,153 12,621,565 46,682,35359,303,918 788,035,235Mega Insurance Company Limited139,857,992139,857,992 3,781,116 484,453 144,123,56195,156 7,174,612 372,579 7,642,347 136,481,214Nationwide Insurance (Casualty & General) Co. LimitedNationwide Life Insurance Co. Limited43,157,5331,241,250 44,398,78344,398,78339,314 5,668,6335,707,947 38,690,836Scotialife Trinidad and Tobago Limited133,031,880133,031,880 86,777 246,867 133,365,52423,78223,782 133,341,742Tatil Life Assurance Limited350,429,523467,324 21,841,008588,535,363 961,273,218 15,546,521 7,501,023 984,320,762 629,170 14,518,417 1,336,117 16,483,704 967,837,058The Beacon Insurance Company Limited50,20014,64664,846 241,091305,937305,937The Reinsurance Company of Trinidad & Tobago Limited 531,096531,096531,096531,096United Security Life Insurance Company Limited15,504,4291,143,92116,648,350273,819 16,922,16911,71811,718 16,910,451TOTAL5,666,894,25719,047,153 8,184,219,2442,543,672,129 16,413,832,783 151,877,063 353,151,684 16,918,861,530 49,043,107 287,731,863 869,270,030 1,206,045,000 15,712,816,530CARIBBEANLife of Barbados Ltd.T R A N S F E R R E D T O S A G I C O R L I F E I N C O R P O R A T E DSagicor Life Incorporated447,418,5712,358,040 405,269,516985,137,320 1,840,183,4471,840,183,447 2,649,245 22,496,97425,146,219 1,815,037,228TOTAL447,418,5712,358,040 405,269,516985,137,320 1,840,183,4471,840,183,447 2,649,245 22,496,97425,146,219 1,815,037,228OTHERLincoln Assurance Ltd.Sun Life Assurance Company of CanadaN O T W R I T I N G B U S I N E S STOTALGRAND TOTAL6,114,312,82821,405,193 8,589,488,7603,528,809,449 18,254,016,230 151,877,063 353,151,684 18,759,044,977 51,692,352 310,228,837 869,270,030 1,231,191,219 17,527,853,758-------------------------------------------------------------------------------------------------------------------180REPORT ON INSURANCE AND PENSIONS


TABLESTABLE XIASTATEMENT OF STATUTORY FUND 2006 - SECURITIES HELD IN TRUST (LONG-TERM BUSINESS)COMPANIESTrinidadandTobagoGovernmentsecurities MortgagesREALESTATETrinidadandTobagoEquitiesFixedDepositsOtherTrinidadand Tobago“Local”AssetsTotalTrinidadand Tobago“Local”AssetsCaricomAssetsOtherCaricomAssetsdenoted inForeignCurrencyTotal“Local”Assets“Local”AssetsRatioForeignGovernmentSecuritiesOTHERForeignASSETSTOTALForeignASSETSTOTALASSETSIN FUND1LOCALAmerican Life and General Insurance Company (T&T)Limited$ $ $ $ $ $$ $ $ $ $ $ $ $ $617,800,25693,000,0001,597,10370,539,57429,571,087812,508,0203,812,909816,320,9299094,078,57494,078,574910,399,5032. Bancassurance Caribbean Limited11,398,282 663,769 27,500,000 154,771,092 1,932,421 85,742,497 282,008,061282,008,06180 69,178,31969,178,319 351,186,3803.4.British-American Insurance Company ( Trinidad )LimitedCaribbean Atlantic Life Insurance Company (T&T)Limited2,756,18811,226,07213,982,26013,982,26010013,982,2605.Caribbean Insurance Company Limited6. Colonial Life Insurance Company (Trinidad) Limited 4,100,454.27 77,381,154.66 435,641,103.00 4,459,911,386.31 941,716,442.09 332,304,689 6,251,055,229 891,982,2777,143,037,507801,783,964,554.52 1,783,964,555 8,927,002,0617. Cuna Caribbean Insurance Society Limited4,145,27612,409,334 39,054,241 55,608,851 6,432,655 3,832,390 65,873,89610065,873,8968.Demerara Life Assurance Company of Trinidad andTobago Limited9. Guardian General Insurance Limited633,686633,686633,686100633,68610. Guardian Life of the Caribbean Limited92,919,641 136,892,446 288,472,724 1,754,255,611 443,266,051 387,550,959 3,103,357,432 178,885,9533,282,243,3851003,282,243,38511. Maritime Life (Caribbean) Limited212,269,190 51,191,219 157,607,047 105,517,632 136,425,000 16,605,000 679,615,088679,615,08886113,761,429 113,761,429 793,376,51712. Mega Insurance Company Limited23,162,245 1,941,616 27,296,243 44,135,240 1,650,000 9,530,998 107,716,341107,716,341973,795,021 3,795,021 111,511,36213.Nationwide Insurance (Casualty & General) Co. Limited14. Nationwide Life Insurance Company Limited22,811,8547,200,0003,261,579 14,181,129 47,454,56247,454,56210047,454,56215. Scotialife Trinidad and Tobago Limited30,756,607 71,509,8041,441,77146,868,885 150,577,067150,577,067100150,577,06716. Tatil Life Assurance Limited51,068,336 54,706,065 16,000,000 193,066,884276,949,761 591,791,046591,791,04699 8,011,3338,011,333 599,802,37917. The Beacon Insurance Company Limited512,000512,000512,000100512,00018.The Reinsurance Company of Trinidad & TobagoLimited587,033587,033587,03310000587,03319. United Security Life Insurance Company Limited5,500,000 393,8611,207,071 6,309,272 13,410,20413,410,2041000013,410,204TOTAL1,078,688,329 394,679,935 1,052,717,117 6,714,696,719 1,613,553,158 1,256,481,623 12,110,816,880 1,081,113,794 3,832,390 13,195,251,065 86.4 171,268,226 1,901,521,005 2,072,789,231 15,268,040,295CARIBBEAN1.Life of Barbados Ltd.2. Sagicor Life Incorporated256,675,225 400,071,827 182,422,614 252,228,963 174,929,129 642,239,942 1,908,567,7001,908,567,7001001,908,567,700TOTAL256,675,225 400,071,827 182,422,614 252,228,963 174,929,129 642,239,942 1,908,567,7001,908,567,7001,908,567,700OTHER1.Lincoln Assurance Ltd.2.Sun Life Assurance Company of CanadaTOTALGRAND TOTAL1,335,363,554 794,751,762 1,235,139,731 6,966,925,682 1,788,482,287 1,898,721,565 14,019,384,580 1,081,113,794 3,832,390 15,104,330,76588 171,268,226 1,901,521,005 2,072,789,231 17,176,607,995MORE ORLESS THANREQUIREMENT$4,990,6825,294,784674,4667,179,2891,547,346400,868(99,449,224)5,341,282(24,969,852)8,763,72617,235,325(368,034,679)206,06355,937(3,500,247)(444,776,234)93,530,47293,530,472(350,733,762)------------------------------------------------------------------------------------------------------------REPORT ON INSURANCE AND PENSIONS 181


TABLESTABLE XIICOMPANIES1.2345678910111213141516171819202122232425261LOCALAmerican Life and General Insurance Company (T&T)Ltd.Bankers Insurance Company (T&T) Ltd.Capital Insurance Ltd.Caribbean Insurance Company Ltd.Citizen Insurance Company Ltd.Colonial Fire & General Insurance Company Ltd.Furness Anchorage General Insurance Ltd.GTM Fire Insurance Company LtdGuardian General Insurance LimitedGulf Insurance Ltd.Maritime General Insurance Company Ltd.Motor & General Insurance Company Ltd.Motor One Insurance Company LimitedNationwide Insurance (Casualty & General) Co. Ltd.N.E.M. (West Indies) Insurance Ltd.Royal Caribbean Insurance Ltd.Sagicor General Insurance Inc.The Beacon Insurance Company LtdThe Goodwill General Insurance Company Ltd.The Great Northern Insurance Company Ltd.The Mountain General Insurance Company Ltd.The New India Assurance Company (T&T) Ltd.The Presidential Insurance Company Ltd.The Reinsurance Company of T&T Ltd.The Western General Insurance Company Ltd.Trinidad & Tobago Insurance Ltd.TOTALCARIBBEANUnited Insurance Company LimitedTOTALGRAND TOTALREVENUE ACCOUNT IN RESPECT OF MOTOR INSURANCE - 2006REVENUEEXPENDITUREAMOUNT OF FUND AT THEBEGINNING OF YEARUnearnedPremiumReserve$6,570,393OutstandingClaimsReserve$3,964,601CommissionsReceived$28,830Premiums$18,878,624InterestDividendsand Rents$Other ProfittOTALand LossAdjustments$(28,091)$$29,414,357Paymentof ClaimsIncludungLegal andMedicalExpenses$7,471,915Commissions Other TransfersExpensesofManagementto Profit andLoss AccountAMOUNT OF FUND ATEND OF YEARUnearnedPremiumReserveOutstandingClaimsReserve$ $ $ $ $ $2,591,489 689,745 1,176,145 3,515,476 9,374,808 4,594,7798,810,90235,366,13031,227,615558,9185,650,93948,849,4915,447,83620,329,6876,326,3077,149,6016,046,07420,336,07313,536,314979,7913,269,99272,744,6915,489,99737,440,3013,544,5341,451,3374,5501,063,1253,263179,0804,094,44414,183,40055,316,08692,462,3242,196,47214,716,536130,642,49510,148,00869,018,21614,310,14320,549,0044,683,465935,3113,932,694231,581536,8372,401,5811,859,0037,351,9521,647,246836,9643,291,5811,24229,044,926115,701,75412,522,88249,393,0892,375,6743,731,375230,343 1,165,654I N L I Q U I D A T I O N141,158,947 38,864,175 9,402,9633,966,762 786,064 92,47228,529,010 6,092,368 2,265,023254,642,763 76,034,030 20,198,85723,123,924 5,183,771 974,255138,234,600 34,639,780 13,163,24510,029,573 35,857,803 9,132,547 771,74629,986,906 8,791,550 1,350,3513,690,7018,039,5251,158,99527,510,096320,0373,367,61819,224,5646,143,9087,562,4824,683,3924,854,2486,659(9,258,960)2,779,2201,780,1793,639,1851,713,490(1,685,068)10,425,6941,701,6659,908,54931,389,34541,691,857535,1989,490,51160,044,5915,832,78330,054,8676,953,31710,936,82713,141,82432,407,38120,910,636452,8123,674,30577,427,2316,674,27542,388,53014,316,8012,352,26511,425,9597,275,2663,744,1728,669,4037,568,6203,020,30437,119,296255,110,8403,561,7018,732,82411,924,1252,032,8416,928,1588,416,5115,840,48136,635,840252,876,18636,0044,87344,68712,03029,1455,500,03132,441,75815,876,0829,778,18321,077,80021,343,45915,898,00179,498,102638,334,69352,966327,768418,287950,9958,4673,623,13422,84952,636,545 17,731,733 4,042,84735,408,114 5,979,491 1,810,341 2,915,869U N D E R I N T E R V E N T I O N391,983 16,365,466 4,667,298 534,859 3,665,059N O A C C O U N T S S U B M I T T E D1,728,778 38,448,826 7,539,847 3,445,725 3,902,124303,71338,583,298 12,543,754 551,635 8,286,8271,069,877 25,840,693 5,180,728 2,065,970 4,123,553R E G I S T R A T I O N B E I N G C A N C E L L E D11,381,02237,547,673 3,568,445 13,459,021 164,663,405 1,206,396,888 44,110,870 346,688,741 11,382,362 80,751,188 5,571,914115,710,658460,789167,7001,811,2934,400,7191,921,873435,46814,365,02635,733,96714,128,4229,853,4814,514,51413,708,9128,385,4957,348,97043,540,669317,693,1163,600,28512,332,82412,466,2702,983,7369,830,2188,212,4207,121,47245,692,564320,580,628255,110,840 252,876,186 5,500,031 638,334,693 37,547,673 3,568,445 13,459,021 1,206,396,888 346,688,741 80,751,188 115,710,658 1,811,293 35,733,967 317,693,116 320,580,628tOTAL$29,414,35741,639,630115,701,7551,165,654141,158,9473,966,76228,529,010254,642,76323,123,924138,234,59835,857,80329,986,9063,623,13452,636,54535,408,11416,365,46638,426,82638,583,29825,840,693164,663,4051,218,969,5911,218,969,591----------------------------------------------------------------------------------------------------------------------------------182REPORT ON INSURANCE AND PENSIONS


1.2345678910111213141516171819202122232425TABLESTABLE XIIISTATEMENT OF STATUTORY FUND - LIABILITY OF POLICYHOLDERS AND ASSETS HELD IN TRUST- MOTOR INSURANCE - 2006COMPANIESFUNDS AT END OF YEARDEDUCTIONSASSETS HELD IN FUNDLOCALAmerican Life and General Insurance Company(T&T) Ltd.Bankers Insurance Company (T&T) Ltd.Capital Insurance Ltd.Caribbean Insurance Company Ltd.Citizen Insurance Company Ltd.Colonial Fire & General Insurance Company Ltd.Furness Anchorage General Insurance Ltd,.GTM Insurance Company LimitedGuardian General Insurance LimitedGulf Insurance LimitedMaritime General Insurance Company Ltd.Motor and General Insurance Company Ltd.Motor One Insurance Company LimitedNationwide Insurance (Casualty & General) Co. Ltd.Royal Caribbean Insurance Ltd.Sagicor General Insurance Inc.The Beacon Insurance Company Limited.The Goodwill General Insurance Company Ltd.The Great Northern Insurance Company Ltd.The Mountain General Insurance Company Ltd.The New India Assurance Company (T&T) Ltd.The Presidential Insurance Company Ltd.The Reinsurance Company of T&T LimitedThe Western General Insurance Company Ltd.Trinidad and Tobago Insurance Ltd.UnearnedPremiumReserve$8,430,8779,908,54928,535,76814,503,40941,279,066501,5919,490,51160,044,5915,832,78330,054,8676,953,31710,936,82714,128,4229,853,4814,514,51413,708,9128,385,4957,348,97043,540,669EstimatedLiabilityin respect ofoutstandingClaims$4,594,77913,141,82432,407,3812,550,00020,910,636452,8123,674,30577,427,2316,674,27542,388,53014,316,8012,352,2653,600,28512,332,82412,466,2702,983,7369,830,2188,212,4207,121,47245,692,564Other Total Amount OtherFundLiability held on Deductions RequirementsDeposit$943,9312,853,577412,79133,607$13,969,58723,050,37363,796,72617,053,40962,602,493988,01013,164,816137,471,82212,507,05872,443,39721,270,11813,289,0923,600,28526,461,24622,319,7517,498,25023,539,13016,597,91514,470,44289,233,233$4,409,34613,975,9334,460,45540,689,3771,190,7223,972,97259,155,0414,383,03427,226,5284,326,6398,223,900275,15714,854,1527,584,7072,387,8215,853,3186,165,234927,29339,521,491$1,045,2214,255,0201,095,757718,6006,361,613725,3771,977,74619,445,0764,319,242807,9997,063,6401,389,124356,0224,900,8046,879,2171,910,701$12,924,36614,386,00748,725,03611,874,35415,551,503(928,089)7,214,09858,871,7053,804,78245,216,86916,943,4794,257,1933,325,128 4,543,45413,345,920 1,754,4351,099,000199,642 7,157,164 7,690,105 1,954,0777,157,1648,789,105I N L I Q U I D A T I O N4,754,4073,795,4143,795,414N O T W R I T I N G B U S I N E S S12,785,008 5,000,0006,236,149 11,236,1493,553,4641,455,081 1,455,08111,632,4486,958,786 6,958,78649,711,742TrinidadandTobagoGovernmentSecurities$10,398,913694,000250,0003,310,2775,692,007FixedDeposits$1,000,0002,500,00022,230,7001,608,2351,221,318OtherTrinidadandTobagoAssets$ $ $ $ $ $1,609,8903,152,20139,712,8931,561,01715,116,052539,988655,42130,791,5783,754,19541,607,7135,540,1192,967,30188,462,251TotalTrinidadandTobagoAssets12,008,8033,152,20141,406,893250,00018,426,329539,9883,155,42158,714,2855,362,43041,607,7136,761,4372,967,30188,462,251CaricomAssets2,205,291Total“Local”Assets12,008,8033,152,20141,406,893250,0001,561,01718,426,329539,9883,155,42160,919,5765,362,43041,607,7136,761,4372,967,3011,954,0777,157,1648,789,1053,795,41411,236,1491,455,0816,958,78688,462,251ForeignAssets876,9003,787,1401,717,147TotalAssets12,008,8033,152,20141,406,893250,0001,561,01718,426,329539,9883,155,42161,796,4765,362,43045,394,8536,761,4372,967,3013,671,2247,157,1648,789,1053,795,41411,236,1491,455,0816,958,78688,462,251TOTALCARIBBEANTOTALGRAND TOTAL327,952,619 323,130,628 4,243,906 655,327,153 249,583,120 63,251,159 342,492,874 28,198,632 32,355,667 265,167,545 324,160,827 2,205,291 327,927,135 6,381,187 334,308,322327,952,619 323,130,628 4,243,906 655,327,153 249,583,120 63,251,159 342,492,874 28,198,632 32,355,667 265,167,545 324,160,827 2,205,291 327,927,135 6,381,187 334,308,322More or(less) thanFundRequirements$(915,563)(11,233,806)(7,318,143)250,000(10,313,337)2,874,8261,468,077(4,058,677)2,924,7711,557,648177,984(10,182,042)(1,289,892)346,0962,613,710(4,556,815)(958,993)(1,548,859)(2,098,383)(4,673,662)38,750,509(8,184,552)(8,184,552)-----------------------------------------------------------------------------------------------REPORT ON INSURANCE AND PENSIONS 183


TABLESTABLE XIVUNDERWRITING RESULTS IN RESPECT OF MOTOR INSURANCE - 2006COMPANIESUnearnedPremium(Beginningof year)NetPremiumWrittenUnearnedPremium(end of year)NetPremiumsEarned(1+2)-3NetClaimspaid duringthe yearClaimsoutstanding(end of year)Claimsoutstanding(beginningof year)NetClaimsIncurred(5+6)-78 as a% of 4Expenses ofManagementand NetCommissions10 as aper cent of4TotalPremiumPayments(8+10)12 as a% of 4Profitor(Loss)(4-12)Profitor(Loss)per cent1.234567891011121314151617181920212223242526LOCALAmerican Life and General InsuranceCompany (T&T) Ltd.Bankers Insurance Company (T&T) Ltd.Capital Insurance Ltd.Caribbean Insurance Company Ltd.Citizen Insurance Company Ltd.Colonial Fire General Insurance Company Ltd.Furness Anchorage General Insurance Ltd.GTM Fire Insurance Co. Ltd.Guardian General Insurance LimitedGulf Insurance Ltd.Maritime General Insurance Company Ltd.Motor and General Insurance Company Ltd.Motor One Insurance Company LimitedNationwide Insurance (Casualty &General) Company Ltd.N.E.M. (West Indies) Insurance Ltd.Royal Caribbean Insurance Ltd.Sagicor General Insurance Inc.The Beacon Insurance Company LtdThe Goodwill General Insurance Company Ltd.The Great Northern Insurance Company Ltd.The Mountain General Insurance Company Ltd.The New India Assurance Company (T&T) Ltd.The Presidential Insurance Company Ltd.The Reinsurance Company of T&T Ltd.The Western General Insurance Company Ltd.Trinidad & Tobago Insurance Ltd.TOTAL$6,570,3938,810,90235,366,13031,227,615558,9185,650,93948,849,4915,447,83620,329,6876,326,3077,149,60111,425,9597,275,2663,744,1728,669,4037,568,6203,020,30437,119,296255,110,840$18,878,62414,183,40055,316,08692,462,3242,196,47214,716,536130,642,49510,148,00869,018,21614,310,14320,549,00432,441,75815,876,0829,778,18321,077,80021,343,45915,898,00179,498,102638,334,693$9,374,8089,908,54931,389,34541,691,857535,1989,490,51160,044,5915,832,78330,054,8676,953,31710,936,82714,128,4229,853,4814,514,51413,708,9128,385,4957,348,97043,540,669317,693,116$16,074,20913,085,75359,292,87181,998,0822,220,19210,876,964119,447,3959,763,06159,293,03613,683,13316,761,77829,739,29513,297,8679,007,84116,038,29120,526,58411,569,33573,076,729575,752,417$7,471,91512,522,88249,393,08938,864,175786,0646,092,36876,034,0305,183,77134,639,7809,132,5478,791,55022,84917,731,7335,979,4914,667,2987,539,84712,543,7545,180,72844,110,870346,688,741$4,594,77913,141,82432,407,38120,910,636452,8123,674,30577,427,2316,674,27542,388,53014,316,8012,352,265$ $ % $ % $ % $ %3,600,285 12,332,824 12,466,270 3,561,701 8,732,824 11,924,125 61,43321,331,733 6,521,636 71.7349.04 2,915,869 21.93U N D E R I N T E R V E N T I O N2,983,736 2,032,841 5,618,193 62.37 3,665,059 40.69N O A C C O U N T S S U B M I T T E D9,830,218 8,212,420 7,121,472 6,928,158 8,416,511 5,840,481 10,441,907 12,339,663 6,461,719 65.11 60.12 55.85 3,902,124 8,286,827 4,123,553 24.3340.3735.6445,692,564320,580,6283,964,6016,046,07420,336,07336,635,840252,876,1868,102,09319,618,63361,464,397I N L I Q U I D A T I O N13,536,314 979,791 3,269,992 72,744,691 5,489,997 37,440,301 3,544,534 1,451,337 46,238,497 259,085 6,496,681 80,716,570 6,368,049 39,588,009 19,904,814 9,692,478 56.3911.6759.7367.5765.2366.77145.4757.8253,167,594414,393,18450.40149.92103.6672.761,272689,7453,690,7018,039,5251,158,99527,510,096320,0373,367,61819,224,5646,143,9097,562,4824,683,3924,854,248N O A C C O U N T S S U B M I T T E D5,571,914115,710,6594.2928.2013.5633.5514.4130.9616.0962.9312.7534.2328.967.624518,791,83823,309,33469,503,9221,158,99573,748,593579,1229,864,29999,941,13412,511,95847,150,49124,588,20614,546,72661,43321,331,7339,437,5059,283,25214,344,03120,626,49010,585,27258,739,508530,103,84254.70178.13117.2289.9426.0890.6983.67128.1679.52179.7086.7971.7370.97103.0689.44100.4991.4980.381,7227,282,371(10,223,581)(10,211,051)(1,158,995)8,249,4891,641,0701,012,66519,506,261(2,748,897)12,142,545(10,905,073)2,215,052(61,433)8,407,5623,860,362(275,411)1,694,260(99,905)984,06314,337,22145,648,57445.30(78.13)(17.22)10.0673.929.3116.33(28.16)20.48(79.70)13.2128.2729.03(3.06)10.56(0.49)8.5119.6277.86CARIBBEAN1 United Insurance Company LimitedTOTAL0000000000000000000GRAND TOTAL255,110,840 638,334,693 317,693,116 575,752,417 346,688,741 320,580,628 252,876,186 414,393,184 1,272 115,710,659451 530,103,842 1,722 45,648,574 77.86----------------------------------------------------------------184REPORT ON INSURANCE AND PENSIONS


TABLESTABLE XVREVENUE ACCOUNT IN RESPECT OF OTHER THAN LONG TERM OR MOTOR INSURANCE - 20061.23456789101112131415161718192021222324252612COMPANIESLOCALAmerican Life and General Insurance Co. (T&T) Ltd.Bankers Insurance Company (T&T) Ltd.Brtish-American Insurance Co. Trinidad Ltd.Capital Insurance Ltd.Citizen Insurance Company Ltd.Colonial Fire & General Insurance Co. Ltd.Export Import Bank of Trinidad and Tobago Co. Ltd.Furness Anchorage General Insurance Ltd.GTM Fire Insurance Company LtdGuardian General Insurance LimitedGuardian Life of the Caribbean Ltd.Gulf Insurance Ltd.Maritime General Insurance Company Ltd.Mega Insurance Company LtdNationwide Insurance (Casualty & General) Co. Ltd.N.E.M. (West Indies) Insurance Ltd.Royal Caribbean Insurance Ltd.Sagicor General Insurance Inc.The Beacon Insurance Company LtdThe Goodwill General Insurance Company Ltd.The Great Northern Insurance Company Ltd.The Mountain General Insurance Company Ltd.The New India Assurance Company (T&T) Ltd.The Reinsurance Company of T&T Ltd.The Western General Insurance Company Ltd.Trinidad & Tobago Insurance Ltd.TOTALCARIBBEANSagicor Life Inc.United Insurance Company LtdTOTALGRAND TOTALFUND AT THE BEGINNINGOF YEARUnearnedPremiumReserve$21,882,6032,546,172215,44329,02414,603,25652,801550,3524,417,36620,460,31210,620,8981,969,0474,187,94643,4498,758,10110,862,57525,5071,138,5301,427,7759,209,152113,000,3088,319,4463,365,23411,684,680124,684,988OutstandingClaimsReserve$15,288,4441,600,8373,752,957151,4872,308,93549,864,27612,983,4787,399,8979,009,2751,020,2313,413,8326,184,83656,250873,6643,893,28220,701,851138,503,5323,581,8633,581,863142,085,395CommissionsReceived$12,630,0661,118,42232,11918,494,0102,071,9204,065,89818,153,4841,011,0717,241,362706,2978,097,01412,407,26914,3483,430,4413,842,4197,103,409100,419,550282,7457,767,9678,050,712108,470,262REVENUEPremiums$61,335,7695,882,8762,348,449121,62869,285,0992,085,0902,337,1476,634,14661,022,429193,346,9822,887,4056,615,847NetInterestOtherP<ransfer fromProfit & LossAccountTOTALExpensesofManagementEXPENDITURECommissions Reserve forN O A C C O U N T S S U B M I T T E D3,201 3,659,5774,412,5245824,384,40415,172149,403 1,184,806 302,38019,63238,64715,907,54713,496,586 49,673,080 5,055,945 12,186,0885,453,03426,435,996 2,183,7453,876,228 61,950,649 10,001,637 7,021,535 19,426,922 1,306,946 4,841,539N O A C C O U N T S S U B M I T T E D59,642 3,435159,182 (560) 1,807 29,54545,893N O A C C O U N T S S U B M I T T E D2,030,2291,059,137 8,532,001 912,805 1,997,155 2,369,3709,204,381415,244 18,783,101 1,839,780 1,709,390 3,381,4632,611,613R E G I S T R A T I O N B E I N G C A N C E L L E D31,184,379 11,815,08080,013,871 14,311,304 6,086,233 5,784,41818,903,643498,728,242 22,136,368 3,198,335 55,360,877 931,347,211 261,257,540 144,807,451 101,978,793 7,981,141 96,832,47648,263,94011,341,59959,605,539558,333,781$(61,188)62,1341,182,140235,478105,629404,7711,296,736528,925704,7342,849,8492,849,84924,986,217$(11,352)(17,535)78,1902,481,82319,312647,8971,505,8001,505,8004,704,135$1,738,481 8,099,520 786,359 112,802,823 19,247,828 3,394,850 17,653,271 234,639 1,499,731 13,918,4981,353,017257,773182,771162,027I N L I Q U I D A T I O N107,317,462 54,863,127 17,565,0352,451,559 (64,177)717,674 5,934,209 150,412 1,347,49720,312,939 1,708,884 2,945,0798,079,216 158,895,765 30,420,653 22,263,97415,576,117 233,175,372 117,938,943 50,011,36513,796,345 793,110 1,349,6991,366,912 29,126,076 3,635,655 4,630,697814,5143,411,9564,226,47059,587,347$59,186,44532,318,46891,504,9131,022,852,124Paymentof ClaimsIncludungLegal andMedicalExpenses$35,478,3914,233,35939,711,750300,969,290$4,205,7454,533,4418,739,186153,546,637$14,185,0582,076,019553,6207,662,1491,621,0101,331,2605,051,42619,854,06610,307,0261,748,0746,577,7354,186,7021,260,1045,446,806107,425,599OtherP&L$5,615,3551,058,840928,026928,0268,909,167Transfer toProfit & LossAccount$17,433,967997,620150,780(26,271)8,270,315771,847836,4301,608,4157,150,26818,360,5844,227,644772,1029,108,34912,671,75221,780,101118,612,577UnearnedPremium$FUND ATAT END OF YEAR28,303,3101,031,369835,11947,01414,255,783122,8792,087,7155,503,10021,483,14314,537,2531,757,3944,771,46027,53814,651,68114,725,88325,6871,871,2713,323,37510,576,443139,937,4196,207,2885,058,06511,265,353151,202,772Reserve forOutstandingClaims$15,693,363960,45797,8274,701,053180,8953,496,03457,723,65920,961,3603,920,4238,738,429824,14612,326,3324,626,18756,8101,403,4005,917,48024,351,829165,979,6843,633,7213,633,721169,613,405TOTAL$112,802,8236,653,1233,394,850182,770107,317,4622,451,5595,934,20920,312,938158,895,764233,175,37213,796,34429,126,0784,412,5241,184,80549,673,08061,950,648159,1828,554,00118,783,10180,013,871918,774,50359,186,47532,318,46891,504,9431,010,279,446----------------------------------------------------------------------------------------REPORT ON INSURANCE AND PENSIONS 185


TABLESTABLE XVIREVENUE ACCOUNT IN RESPECT OF PROPERTY INSURANCE - 2006COMPANIESREVENUE EXPENDITURE1LOCALAmerican Life and General Insurance Company (T&T)Ltd.FUND AT THE BEGINNINGOF YEARUnearnedPremiumReservePremiumsNET Interest Other Transferfrom Profit & LossAccounttOTAL$ $ $ $ $ $ $ $$$$$$ $4,781,143OutstandingClaimsReserve3,581,52211,547,021CommissionsReceived9,849,313(295,340)29,463,659Paymentof ClaimsIncludungLegal andMedicalExpenses2,393,277Commissions Other Transfer to5,889,563ExpensesofManagement7,251,8521,264,085Profit & LossAccount4,365,597FUND AT END OF YEARReserve forUnearnedPremium6,010,868Reserve forOutstandingClaims2,288,417tOTAL$ $29,463,6592 Bankers Insurance Company (T&T) Ltd.(154,554) 784,683 191,070 1,057,9831,879,182 97,326 544,411 865,008548,460 236,055 274,943 2,566,2043 British-American Insurance Co. Trinidad Ltd.23,966800,97936,621 (3,624) 145,394 1,003,336 71,359 134,302 202,443595,2321,003,3364 Capital Insurance Ltd.25,840121,628 32,119179,587162,027(26,271) 43,028178,7845Citizen Insurance Company Ltd.I N L I Q U I D A T I O N6 Colonial Fire & General Insurance Company Ltd.6,355,362 1,358,827 6,790,154 16,576,680 800,37231,881,395 1,846,669 10,108,494 5,598,7826,068,739 6,676,053 1,582,658 31,881,3957 Furness Anchorage General Insurance Ltd.158,595 109,206 538,449 1,275,072 38,349499,311 2,618,982 137,903 874,946 824,385624,309 157,439 2,618,9828 GTM Fire Insurance Co. Ltd.3,050,896 835,284 3,040,095 3,588,641 233,860 1,433,89512,182,671 845,710 2,331,855 3,895,731162,573 3,325,450 1,621,352 12,182,6719 Guardian General Insurance Limited6,740,559 4,739,517 13,043,840 14,548,137 184,693 14,47739,271,223 3,203,620 12,362,017 10,358,13934,410 7,693,602 5,619,435 39,271,22310 Gulf Insurance Ltd.1,326,936 4,353,707 2,230,847 848,108 408,5749,168,172 627,723 1,217,392 1,350,3182,462,247 1,328,350 2,182,139 9,168,16911 Maritime General Insurance Company Ltd.1,921,225 3,933,784 2,993,342 6,916,658 318,856100,284 16,184,149 806,535 3,893,944 5,363,0572,250,486 3,870,127 16,184,1491213Nationwide Insurance (Casualty & General) Co. Ltd.N.E.M. (West Indies) Insurance Ltd.N O A C C O U N T S S U B M I T T E D14 Sagicor General Insurance Inc.4,096,777 1,221,977 (774,700) 4,360,2779,050,287 17,954,618 1,893,332 6,764,3516,796,833 2,500,102 17,954,61815 Royal Caribbean Insurance Ltd.457,3136,801464,114 47,52119,63238,647358,313 464,11316 The Beacon Insurance Company Ltd2,288,036 1,645,272 3,688,486 5,417,669 986,6202,613,188 16,639,271 1,622,530 2,743,876 8,777,116 106,1672,724,949 664,633 16,639,27117The Goodwill General Insurance Company Ltd.N O A C C O U N T S S U B M I T T E D18 The Great Northern Insurance Company Ltd.24,645 56,250 59,642 14,348 3,373158,258 (560) 1,807 29,00445,510 25,687 56,810 158,25819The Mountain General Insurance Company Ltd.N O A C C O U N T S S U B M I T T E D20 The New India Assurance Company (T&T) Ltd.909,339 190,036 1,540,150 3,422,771955,653 7,017,949 687,339 1,945,594 2,277,1791,568,753 539,084 7,017,94921 The Reinsurance Company of T&T Ltd.366,717 933,201 1,444,536 1,176,6633,921,117 (947,147) 853,660 679,3611,042,655 300,450 1,992,138 3,921,11722 Trinidad & Tobago Insurance Ltd.4,328,957 3,560,935 7,119,654 5,107,482 6,632,90826,749,936 1,713,649 4,230,216 3,247,3359,804,997 5,540,330 2,213,409 26,749,936TOTAL36,244,439 27,761,514 54,375,193 74,191,921 9,651,027 1,149,408 13,364,117 216,737,618 15,046,786 54,058,455 50,739,342 1,370,252 24,547,564 45,740,436 25,920,999 217,423,8331CARIBBEANUnited Insurance Company Limited1,180,227 1,048,513 4,459,153 7,340,234 2,174,15616,202,283 1,036,642 3,458,574 961,336 707,993 7,183,585 1,890,372 963,781 16,202,283TOTAL1,180,227 1,048,513 4,459,153 7,340,234 2,174,15616,202,283 1,036,642 3,458,574 961,336 707,993 7,183,585 1,890,372 963,781 16,202,283GRAND TOTAL37,424,666 28,810,027 58,834,346 81,532,155 11,825,183 1,149,408 13,364,117 232,939,901 16,083,428 57,517,029 51,700,678 2,078,245 31,731,149 47,630,808 26,884,780 233,626,116------------------------------------------------------------------------------------186REPORT ON INSURANCE AND PENSIONS


TABLESTABLE XVIIREVENUE ACCOUNT IN RESPECT OF MISCELLANEOUS GENERAL INSURANCE - 2006COMPANIESREVENUE EXPENDITURE1LOCALAmerican Life and General Insurance Company (T&T) Ltd.FUND AT THEBEGINNING OF YEARUnearnedPremiumReserve$17,345OutstandingClaimsReservePremiumsCommissionsReceivedNET InterestDividends &RentOtherTransferfromProfit & LossAccountTOTALPaymentof ClaimsIncludungLegal andMedicalExpensesExpensesofManagementTransfer toProfit &LossAccountFUND AT END OF YEARCommissions OtherReserve forTOTALUnearnedPremiumReserve forOUTSTANDINGCLAIMS$ $ $ $ $ $ $$ $ $ $ $ $ $19,759 54,665 1,051,968(11,814)1,131,923 7,372 249,888 290,077 127,693 405,004 35,300 16,5891,131,9232 Bankers Insurance Company (T&T) Ltd.4,667,9474,667,947697,177 922,6751,619,8523 British-American Insurance Co. Trinidad Ltd.16,477450,1703,334 (1,710)468,271 18,912 20,654 238,038150,780 39,887468,2714 Capital Insurance Ltd.1,9811,9813,9863,9865Citizen Insurance Company Ltd.I N L I Q U I D A T I O N6 Colonial Fire & General Insurance Company Ltd423,282 646,085 814,234 718,694 53,3072,655,602 395,040 348,756 372,891714,391 305,291 519,233 2,655,6027 Export Import Bank of Trinidad and Tobago Co. Ltd.52,8012,085,090235,478 78,1902,451,559 (64,177)1,621,010771,847 122,8792,451,5598 Furness Anchorage General Insurance Ltd.150,395 225,289 2,26761,847 439,798 (2,306) 132,934 164,850708 143,612439,7989Gulf Insurance Ltd10 Guardian General Insurance Limited2,730,417 3,835,986 14,981,347 1,639,144 119,91846823,307,280 3,857,205 3,815,269 2,951,1885,409,166 2,726,204 4,548,249 23,307,28011 GTM Fire Insurance Co. Ltd158,235 97,372 791,945 271,590 15,382 94,3121,428,836 37,147 177,578 126,530546,798 395,572 145,211 1,428,8361213Maritime General Insurance Company Ltd1,424,507 582,472 351,510 551Nationwide Insurance (Casualty & General) Co. Ltd.37,4442,396,484 14,002 88,567 128,000N O A C C O U N T S S U B M I T T E D430,924 1,187,264 547,728 2,396,48514 N.E.M. (West Indies) Insurance Ltd.43,4493,201 706,297 3,659,5774,412,5245824,384,404 27,5384,412,52415 Royal Caribbean Insurance Ltd.399,7755,94518,400 424,120 36,845387,275 424,12016 Sagicor General Insurance Inc.1,701,793 699,503 6,708,480 3,538,66512,648,441 321,424 4,166,3832,919,866 3,401,710 1,839,058 12,648,44117 The Beacon Insurance Company Ltd.1,843,584 47,938 2,462,173 2,774,619 215,9948,349 7,352,657 21,560 1,251,517 1,921,512 386,009 1,638,450 1,830,727 302,882 7,352,65718 The Great Northern Insurance Company Ltd.2822030217812430219The Mountain General Insurance Company Ltd.N O A C C O U N T S S U B M I T T E D20 The New India Assurance Company (T&T) Ltd.(50)(50)(50)(50)21 The Reinsurance Company of Trinidad &Tobago Ltd.130,665 7,609 233,389371,663 7,639 18,020 60,490187,034 98,480371,66322 Trinidad and Tobago Insurance Ltd.89,131 139,680 1,756,203252,9502,237,964 549,554 47,160 123,8391,247,220 148,210 121,981 2,237,964TOTAL8,633,899 6,476,179 35,510,749 10,926,818 4,601,616 159,446 88,596 66,397,302 5,200,217 11,014,484 8,921,278 513,702 18,806,716 10,466,610 8,428,206 63,351,213CARIBBEAN1 Sagicor Life Inc.1,079,292 282,7451,505,800 814,514 3,682,351 935,346 1,114,368 304,962591,275 736,4003,682,3512 United Insurance Company Ltd.78,876 166,211 3,428,237 427,733 426,6861,026,876 5,554,619 752,553 678,757 188,666 138,946 975,997 1,553,147 1,266,553 5,554,619TOTAL78,876 166,211 4,507,529 710,478 426,686 1,505,800 1,841,390 9,236,970 1,687,899 1,793,125 493,628 138,946 1,567,272 2,289,547 1,266,553 9,236,970GRAND TOTAL8,712,775 6,642,390 40,018,278 11,637,296 5,028,302 1,665,246 1,929,986 75,634,272 6,888,116 12,807,609 9,414,906 652,648 20,373,988 12,756,157 9,694,759 72,588,182-------------------------------------------------------------------------------------------------------------------------------REPORT ON INSURANCE AND PENSIONS 187


TABLESTABLE XVIIIREVENUE ACCOUNT IN RESPECT OF LIABILITY INSURANCE - 2006COMPANIESREVENUE EXPENDITURE1LOCALAmerican Life and General Insurance Company (T&T)Ltd.FUND AT THEBEGINNING OF YEARUnearnedPremiumReserve$985,266OutstandingClaimsReserve4,335,920Premiums2,616,372CommissionsReceived1,222,178NETInterestOther(19,461)TransferfromProfit & LossAccountTOTALPaymentof ClaimsIncludungLegal andMedicalExpenses1,341,496ExpensesofManagement477,851233,111727,398FUND AT END OF YEARCommissions OtherTOTALReserve forUnearnedPremium$ $ $ $ $ $ $$ $ $ $ $ $ $9,140,275748,577Transfer toProfit &LossAccount1,291,755Reserve forOUTSTANDINGCLAIMS4,320,0879,140,2752 Bankers Insurance Company (T&T) Ltd.2,700,091 816,154 798,6288,099,520 12,414,393 137,313 107,654 230,669449,090 794,665 685,514 2,404,9053 Capital Insurance Ltd.5795794 Colonial Fire & General Insurance Company Ltd.2,357,434 1,558,570 4,374,049 1,030,735 296,8879,617,675 1,127,114 844,846 2,076,791946,891 2,218,039 2,403,994 9,617,6755 Furness Anchorage General Insurance Ltd.376,696 42,281 1,508,001 571,559 63,058156,516 2,718,111 14,815 327,868 323,790803,141 1,225,041 23,456 2,718,1116 GTM Fire Insurance Co. Ltd.1,170,546 1,366,155 2,695,326 194,339 152,652 935,9746,514,992 809,790 418,474 999,698874,506 1,713,802 1,698,721 6,514,9917 Guardian General Insurance Limited11,109,453 40,588,943 32,273,031 476,827 984,708 3,006 7,593,468 93,029,437 23,247,400 4,999,723 5,392,5311,706,693 11,165,347 46,517,742 93,029,4368 Gulf Insurance Ltd.623,446 2,366,334 779,315 95,155 142,7984,007,048 164,547 119,750 471,9411,180,755 495,717 1,574,340 4,007,0509 Maritime General Insurance Company Ltd.803,621 3,767,349 2,624,465 563 279,5641,189,201 8,664,763 2,757,622 396,583 614,9411,292,226 3,603,391 8,664,76310Nationwide Insurance (Casualty & General) Co. Ltd.N O A C C O U N T S S U B M I T T E D11N.E.M. (West Indies) Insurance Ltd.12 Royal Caribbean Insurance Ltd.163,1432,426131,003 296,572 218,01478,558 296,57213 Sagicor General Insurance Inc.2,172,875 1,342,449 7,919,069 179,2723,808,934 15,422,599 1,989,308 836,3451,407,812 3,501,865 7,687,269 15,422,59914 The Beacon Insurance Company Ltd3,040,732 2,913,919 10,327,053 1,371,313 521,84318,174,860 2,176,742 1,488,391 4,642,394 467,367 1,857,250 4,898,614 2,644,102 18,174,86015 The Great Northern Insurance Company Ltd.5804262236325962216The Mountain General Insurance Company Ltd.N O A C C O U N T S S U B M I T T E D17 The New India Assurance Company (T&T) Ltd.247,851 672,406 481,05684,023 1,485,336 204,759 48,405 84,665298,144 849,363 1,485,33618 Trinidad & Tobago Insurance Ltd.3,741,801 14,166,459 7,660,776 1,221,141 2,394,93729,185,114 4,659,733 1,361,135 1,172,511(482,415) 3,566,417 18,907,733 29,185,114TOTAL29,330,971 74,100,082 74,057,141 6,363,082 4,838,915 919,519 21,062,665 210,672,375 38,848,654 11,697,751 16,488,145 700,478 9,471,380 32,461,631 90,994,269 200,662,308CARIBBEAN1 United Insurance Company Ltd.1,991,267 2,336,462 3,151,530228,6772,385,080 10,093,016 2,429,179 363,771 101,113 74,466 4,327,729 1,493,011 1,303,747 10,093,016TOTAL1,991,267 2,336,462 3,151,530228,6772,385,080 10,093,016 2,429,179 363,771 101,113 74,466 4,327,729 1,493,011 1,303,747 10,093,016GRAND TOTAL31,322,238 76,436,544 77,208,671 6,363,082 5,067,592 919,519 23,447,745 220,765,391 41,277,833 12,061,522 16,589,258 774,944 13,799,109 33,954,642 92,298,016 210,755,324-----------------------------------------------------------------------------------------188REPORT ON INSURANCE AND PENSIONS


123456789101112131415161TABLESTABLE XIXREVENUE ACCOUNT IN RESPECT OF PERSONAL ACCIDENT INSURANCE - 2006COMPANIESREVENUE EXPENDITURELOCALAmerican Life and General Insurance Company(T&T) Ltd.Brititsh-American Insurance Company (Trinidad) LtdCapital Insurance Ltd.Colonial Fire & General Insurance Company Ltd.Furness Anchorage General Insurance Ltd.GTM Fire Insurance Co. Ltd.Guardian General Insurance LimitedMaritime General Insurance Company Ltd.Mega Insurance Company Ltd.FUND AT THEBEGINNING OF YEARUnearnedPremiumReserve$15,396,178624127,8402,5299,100OutstandingClaimsReservePremiumsTransferfromProfit & LossAccount$ $ $ $ $ $ $$ $ $ $ $ $ $1,780,013 32,067,331 506,607(66,467)49,683,662 3,238,179 5,358,490 1,632,044 3,972,657 11,935,968 20,196,388 3,349,93617,474284,3958,2707,20113,799CommissionsReceived5,036130,497Interestdividendsand rent16,1001521,470Other93377,427TOTAL624445,8098,27015,851232,293Paymentof ClaimsIncludungLegal andMedicalExpenses11,292Commissions OtherReserve forTOTAL86,2928733,0744,867ExpensesofManagement112,6221,0486,146220,575Transfer toProfit &LossAccount125,7606,3091,883FUND AT END OF YEARUnearnedPremium96,676404,7486,851Reserve forOUTSTANDINGCLAIMS13,16749,683,662445,8098,27015,851232,293Nationwide Insurance (Casualty & General) Co. Ltd.N O A C C O U N T S S U B M I T T T E DN.E.M. (West Indies) Insurance Ltd.Sagicor General Insurance Inc.24,04862,55586,60311,52945,691 29,38386,603The Beacon Insurance Company Ltd1,898,663 534,305 5,355,66512 103,8751,254,691 9,147,211 5,020,663 397,927 924,091 11,1782,153,260 640,092 9,147,211The New India Assurance Company (T&T) Ltd.223375 281121 1,0001506272231,000Trinidad and Tobago Insurance Ltd.22,530 8,626 71,052 24,243 21,545147,9962,266 10,548106,939 21,0607,183 147,996The Western General Insurance Company Ltd.400400400400TOTAL17,481,735 2,340,818 37,870,643 666,676 143,142 (65,534) 1,332,239 59,769,719 8,270,134 5,865,468 2,907,701 3,983,835 12,222,551 22,508,628 4,010,778 59,769,095CARIBBEANUnited Insurance Company Ltd.8,251 653 19,5721,31929,7952,098583 430 17,548 8,229907 29,795TOTAL8,251 653 19,5721,31929,7952,098583 430 17,548 8,229907 29,795GRAND TOTAL17,489,986 2,341,471 37,890,215 666,676 144,461 (65,534) 1,332,239 59,799,514 8,270,134 5,867,566 2,908,284 3,984,265 12,240,099 22,516,857 4,011,685 59,798,890--------------------------------------------------------------------------------------------------------------------------------------------------REPORT ON INSURANCE AND PENSIONS 189


TABLESTABLE XIXAREVENUE ACCOUNT IN RESPECT OF GROUP HEALTH INSURANCE - 2006INCOMECOMPANIES FUND AT BEGINNING OF YEARUnearnedPremiumReserveOutstandingClaimsReservePREMIUMS COMMISSIONRECEIVEDNET Interest OtherTransfer fromProfit & LossAccountTOTALLOCAL$ $ $ $ $ $$$American Life and General Insurance Company(T&T) Ltd.1702,6715,571,23015,050,380(61,188)381,729.771,738,481.0823,383,3042Colonial Fire & General Insurance Company Ltd.5,216,46656,599,42461,815,8903Guardian Life of the Caribbean Limited10,544,319128,369,661647,897.42139,561,8784Trinidad and Tobago Insurance Ltd.572,3701,739,89110,562,0721,521,06414,395,397TOTAL6,491,50717,855,440210,581,53601,459,8761,029,627.19239,156,468CARIBBEANLife of Barbados1Sagicor Life Inc.8,319,44647,184,64855,504,0942TOTAL8,319,44647,184,64855,504,094GRAND TOTAL14,810,95317,855,440257,766,1841,459,8761,029,627294,660,562EXPENDITURECOMPANIESFUND AT END OF YEARLOCALAmerican Life and General Insurance Company(T&T) Ltd.Payment of ClaimsIncludingLegal andMedical ExpensesCOMMISSIONS OTHER Reserve forExpenses ofManagementUnearnedPremiumReserve forOutstandingClaims$ $ $ $ $$ $$TOTAL110,672,9471,671,9804,533,23417,809Transfer toProfit & LossAccount0769,0005,718,33423,383,304Colonial Fire & General Insurance Company Ltd.51,479,4716,104,134(607,182)004,839,467061,815,8902Guardian Life of the Caribbean Limited84,018,62212,847,9608,928,607984,42118,360,584014,421,683139,561,8773Trinidad and Tobago Insurance Ltd7,116,208340,984744,68103,403,282892,3071,897,93514,395,3974TOTAL153,287,24820,965,05813,599,3401,002,23021,763,8666,500,77422,037,952239,156,468CARIBBEANLife of Barbados1Sagicor Life Inc.34,543,0453,091,3773,881,71008,517,0745,470,888055,504,0942TOTAL34,543,0453,091,3773,881,7108,517,0745,470,888055,504,094GRAND TOTAL187,830,29324,056,43517,481,0501,002,23030,280,94011,971,66222,037,952294,660,562----------------------------------190REPORT ON INSURANCE AND PENSIONS


1234567891011121314151TABLESTABLE XXREVENUE ACCOUNT IN RESPECT OF MARINE AVIATION AND TRANSPORT INSURANCE - 2006COMPANIESREVENUE EXPENDITURELOCALFUND AT THEBEGINNING OF YEARUnearnedPremiumReserve$OutstandingClaimsReservePremiumsCommissionsReceivedNETInterestOtherTransferfromProfit & LossAccountTOTALPaymentof ClaimsIncludungLegal andMedicalExpensesCommissions OtherTOTALExpensesofManagementTransfer toProfit &LossAccountFUND AT END OF YEARReserve forUnearnedPremium$ $ $ $ $ $ $$ $ $ $ $ $ $Reserve forOUTSTANDINGCLAIMS$American Life and General Insurance Company(T&T) Ltd.Bankers Insurance Company (T&T) Ltd.63550 13582070650720Colonial Fire & General Insurance Company Ltd.122,872 172,001 422,843 167,901 15,474901,091 3,541 72,513 108,245414,534 120,257 182,001 901,091Furness Anchorage General Insurance Ltd15,061132,0321,955149,04810,876 17,18726,272 94,713149,048GTM Fire Insurance Co. Ltd.35,160 10,124 99,579 6,292 2,725 16,709170,589 16,237 14,098 23,32122,655 63,528 30,750 170,589Gulf Insurance Ltd.18,665 679,856 (122,757) 67,808 (22,447)621,125 840 12,557 (74,185)584,642 (66,673) 163,944 621,125Guardian General Insurance Limited(120,118) 699,830 724,210 1,489,376 7,417 1,361 485,748 3,287,825 112,428 1,086,966 1,152,208(102,010) 1,038,233 3,287,825Maritime General Insurance Company Ltd.29,493 725,670 632,731 193,093 67,4001,648,387 57,496 246,736 251,162341,178 34,633 717,183 1,648,388N.E.M. (West Indies) Insurance Ltd.Royal Caribbean Insurance Ltd.Sagicor General Insurance Inc.762,608 149,903 1,992,143 18,800637,365 3,560,819 851,881 407,4801,079,665 921,890 299,903 3,560,819The Beacon Insurance Company Limited1,791,560 1,043,402 4,602,619 2,843,656 355,41310,636,650 1,160,142 1,139,824 3,161,809 336,225 1,345,839 3,118,333 374,478 10,636,650The New India Assurance Company (T&T) Ltd.3,167 11,222 8,648 7,38919,340 49,766 20,707 3,006 6,8994,201 14,953 49,766The Reinsurance Company of Trinidad and Tobago Ltd 18,32739 178,215 1,571,4711,768,05273,000 453,4831,179,305 45,725 16,539 1,768,052Trinidad & Tobago Insurance Ltd.454,363 1,086,260 4,014,622 750,543 991,6767,297,464 272,160 104,472 485,5044,823,620 408,120 1,203,588 7,297,464TOTAL3,131,793 4,578,307 12,684,935 7,116,464 1,419,613 18,070 1,142,453 30,091,636 2,495,432 3,171,528 5,585,633 336,225 9,817,780 4,643,367 4,041,572 30,091,537CARIBBEANUnited Insurance Company Ltd.106,613 30,024 283,10719,011438,755 14,985 30,241 8,406 6,191 166,893 113,306 98,733 438,755TOTALGRAND TOTAL106,6133,238,40630,0244,608,331283,10712,968,0427,116,46419,0111,438,62418,0701,142,453438,75530,530,39114,9852,510,41730,2413,201,7698,4065,594,0396,191-342,416166,8939,984,673113,3064,756,67398,7334,140,305438,75530,530,292-----------------------------------------------------------------------------------------------------REPORT ON INSURANCE AND PENSIONS 191


TABLESTABLE XXIUNDERWRITING RESULTS IN RESPECT OF PROPERTY INSURANCE - 2006COMPANIESUnearnedPremium(Beginningof year)NetPremiumWrittenUnearnedPremium(end of year)NetPremiumsEarned(1+2)-3NetClaimsIncurred5 as aper cent of 4Expenses ofManagementand NetCommissions7 as aper cent of 4TotalPremiumPayments(7+5)9 as aper cent of 4Profitor(Loss) (4-9)Profitor(Loss)per cent1LOCALAmerican Life and General Insurance Company (T&T)Ltd.$ $ $ $ $% $ % $ % $ %4,781,14311,547,0216,010,86810,317,2962,393,27723.2013,141,415127.3715,534,692150.57(5,217,396)(50.57)2 Bankers Insurance Company (T&T) Ltd.(154,554) 191,070 236,055 (199,539) 97,326 (48.78) 1,409,419 (706.34) 1,506,745 (755.11) (1,706,284) 855.113 British - American Insurance Company ( Trinidad ) Ltd 23,966 800,979 595,232 229,713 71,35931.06 336,745 146.59 408,104177.66 (178,391) (77.66)4 Capital Insurance Ltd.25,840 121,62843,028 104,440162,027 155.14 162,027155.14 (57,587) (55.14)5Citizen Insurance Company LtdI N L I Q U I D A T I O N6 Colonial Fire & General Insurance Company Ltd.6,355,362 6,790,154 6,676,053 6,469,463 1,846,66928.54 15,707,276 242.79 17,553,945271.34 (11,084,482) (171.34)7 Furness Anchorage General Insurance Ltd.158,595 538,449 624,309 72,735 137,903 189.60 1,699,331 2,336.33 1,837,234 2,525.93 (1,764,499) (2,425.93)8 Gulf Insurance Ltd.1,326,936 2,230,847 1,328,350 2,229,433 627,72328.16 2,567,710 115.17 3,195,433143.33 (966,000) (43.33)9 The Caribbean Home InsuranceCompany Ltd.6,740,559 13,043,840 7,693,602 12,090,796 3,203,62026.50 22,720,156 187.91 25,923,776214.41 (13,832,979) (114.41)10 GTM Fire Insurance Company Ltd.3,050,896 3,040,095 3,325,450 2,765,541 845,71030.58 6,227,586 225.19 7,073,296255.77 (4,307,755) (155.77)1112Maritime General Insurance Company Ltd.1,921,225 2,993,342Natiionwide Insurance (Casualty & General) Co. Ltd.2,250,486 2,664,081 806,53530.27 9,257,001 347.47 10,063,536377.75 (7,399,455) (277.75)N O A C C O U N T S S U B M I T T E D13N.E.M. (West Indies) Insurance Ltd.14 Royal Caribbean Insurance Ltd.47,52119,63267,153(67,153)15 Sagicor General Insurance Inc.4,096,777 (774,700) 6,796,833 (3,474,756) 1,893,332 (54.49) 6,764,351 (194.67) 8,657,683 (249.16) (12,132,439) 349.1616 The Beacon Insurance Company Limited2,288,036 3,688,486 2,724,949 3,251,573 1,622,53049.90 11,520,992 354.32 13,143,522404.22 (9,891,949) (304.22)17Thr Goodwill General Insurance Company LtdN O A C C O U N T S S U B M I T T E D1819The Great Northern Insurance Company Ltd.24,645 59,642The Mountain General Insurance Company Ltd.25,687 58,600(560)(0.96) 30,81152.58 30,25151.62 28,349 48.38N O A C C O U N T S S U B M I T T E D20 The New India Assurance Company (T&T) Ltd.909,339 1,540,150 1,568,753 880,736 687,33978.04 4,222,773 479.46 4,910,112557.50 (4,029,376) (457.50)21 The Reinsurance Company of T&T Limited366,717 1,444,536 300,450 1,510,803 (947,147) (62.69) 1,533,021 101.47 585,87438.78 924,929 61.2222 Trinidad & Tobago Insurance Ltd.4,328,957 7,119,654 5,540,330 5,908,281 1,713,64929.00 7,477,551 126.56 9,191,200155.56 (3,282,919) (55.56)TOTAL36,244,439 54,375,193 45,740,436 44,879,196 15,046,78633.53 104,797,796 233.51 119,844,582267.04 (74,965,386) (167.04)CARIBBEAN1 United Insurance Company Ltd.1,180,227 4,459,153 1,890,372 3,749,008 1,036,64227.65 4,419,910 117.90 5,456,552145.55 (1,707,544) (45.55)TOTALGRAND TOTAL1,180,22737,424,6664,459,15358,834,3461,890,37247,630,8083,749,00848,628,2041,036,64216,083,42827.6533.074,419,910109,217,706117.90224.605,456,552125,301,134145.55257.67(1,707,544)-(76,672,930)(45.55)(157.67)----------------------192REPORT ON INSURANCE AND PENSIONS


TABLESTABLE XXIISUMMARY AND VALUATION OF POLICIES OF AMERICAN LIFE & GENERAL INSURANCE COMPANY (TRINIDAD AND TOBAGO)LIMITED IN RESPECT OF LONG-TERM INSURANCE AS AT DECEMBER 31, 2006POLICIES REGISTERED IN TRINIDAD AND TOBAGODESCRIPTION OF TRANSACTIONS NumberofPoliciesSumsAssuredand BonusesOfficeYearlyPremiumsNetYearlyPremiumsNetLiabilityNSURANCE POLICIES $ $ $ $Group 1- Total Assurances with Profits12,234681,558,93815,453,9657,101,191129,734,158Group 2- Total Assurances without Profits14,2762,870,460,42929,574,74720,564,647173,914,670TOTAL ASSURANCES26,5103,552,019,36745,028,71227,665,838303,648,828Group 3- Suplementary Benefits7,235,1074,982,9385,403,278Group 4- Group Assurance (Unearned Premium)2642,468,198,51011,519,8179,215,85448,198Group 5- Individual Annuities - DeferredIn PaymentTOTAL IND. ANNUITIES10,853-10,853papapa81,062,77781,062,777Group 6- Tax Qual. Ind. Annuities - DeferredIn PaymentTOTAL TAX QUAL. IND. ANNUITIES12,73787913,616-3,598,3103,598,310papapa158,907,69241,051,097199,958,789Group 7- Group Annuities - DeferredIn PaymentTOTAL GROUP ANNUITIES4646-2,530,2812,530,281papapa184,945,94235,000,976219,946,918AIDS RESERVEPERSONAL ACCIDENT BENEFITS27,000,0002,551,523GRAND TOTAL - NET51,2896,026,346,468 pa63,783,63641,864,630839,620,311VALUATION BALANCE SHEET OF THE LONG-TERM INSURANCE OFAMERICAN LIFE & GENERAL INSURANCE COMPANY (T&T) LIMITEDAS AT DECEMBER 31, 2006Net Liabilities under Policies on Registerin Trinidad and Tobago$839,620,311Balance of Long Term Fundper Revenue Account$954,680,419OtherSurplus (if any)115,060,108Deficiency (if any)TOTAL954,680,419TOTAL954,680,419------------------------------------REPORT ON INSURANCE AND PENSIONS 193


TABLESTABLE XXIIISUMMARY AND VALUATION OF THE POLICIES OF THE BEACON INSURANCE COMPANY LIMITEDN RESPECT OF LONG-TERM AND CREDIT LIFE AT JUNE 30, 2006POLICIES REGISTERED IN TRINIDAD AND TOBAGODESCRIPTION OF TRANSACTIONS NumberSumsof PoliciesInsuredINSURANCE POLICIES$$OfficeYearlyPremiums$NetYearlyPremiums$ $ $$NetLiability$Group LifeGroup Credit172151,601,000228,523328,70482,3953,847TOTAL OTHER BUSINESS3851,829,523328,70486,242Deduct Reinsurance11,370,075135,09232,217TOTAL NET OTHER BUSINESS3840,459,448193,61254,025TermCritical621,500,000400,0004,6462,8243,5655,6542,824TOTAL TERM81,900,0007,4703,5658,478GRAND TOTAL4642,359,448201,0823,56562,503Summary and Valuation of the Policies of the Beacon Insurance Company Limited in Respect ofLong Term and Credit Life at June 30, 2006(In Respect of Business Done in Trinidad and Tobago Only)$$Net Liablilities Under PoliciesRegistered in Trinidad and Tobago62,503Balance of Revenue Account512,000Other-Outstanding Benefits241,091Surplus208,406TOTAL512,000 TOTAL512,000-------194REPORT ON INSURANCE AND PENSIONS


TABLESTABLE XXIVSUMMARY AND VALUATION OF POLICIES OF COLONIAL LIFE INSURANCE COMPANY (TRINIDAD) LIMITEDIN RESPECT OF LONG-TERM BUSINESS AS AT DECEMBER 31, 2006POLICIES REGISTERED IN TRINIDAD AND TOBAGODESCRIPTION OF TRANSACTIONSNumberofPoliciesGROSS SumInsuredANNUALIZEDPREMIUMSNETLIABILITYINSURANCE POLICIES$ $TOTAL PAR7,353300,589,0006,738,00076,886,000TOTAL NON PAR37,71611,292,542,00082,226,000154,237,000Total AnnuitiesTotal EFPA/FPA21,05289,6531,079,368,0005,614,729,000TOTAL110,7056,694,097,000Other293800,685,000GRAND TOTAL156,06711,593,131,00088,964,0007,725,905,000------REPORT ON INSURANCE AND PENSIONS 195


TABLESTABLE XXVSUMMARY AND VALUATION OF POLICIES OF CUNA CARIBBEAN INSURANCE SOCIETY LIMITEDIN RESPECT OF LONG-TERM INSURANCE AS AT DECEMBER 31,2006POLICIES REGISTERED IN TRINIDAD AND TOBAGODESCRIPTION OF TRANSACTIONSNumberofPoliciesBASIC SumASsuredDIVIDENDS OfficeNetYearlyYearlyPremiumsPremiumsNetLiabilityINSURANCE POLICIES$$$$$Group 1- Whole Life63223,565,273325,530473,300417,6976,114,032Group 1- Term13313,042,223131,478122,70297,500Group 1- Pensions Plus Term and ADB Rider34142,032,50081,84079,487Group 1- Endowment862,748,38811,222106,56992,081.001,223,952TOTAL GROUP 11,19281,388,384336,752793,187632,4807,514,971Group 6- Other Long Term Insurance Business4097,589,626,26967,664,13019,226,859TOTAL OTHER BUSINESS4097,589,626,26967,664,13019,226,859POLICY RIDERSEXTRA PREMIUMSCSV DEFICIENCY RESERVEAIDS RESERVE33,460,33162,0748,24662,0748,246458,32548,833GRAND TOTAL1,6017,704,474,984336,75268,527,637632,48027,319,308VALUATION BALANCE SHEET OF THE LONG-TERM INSURANCE OF CUNA CARIBBEAN INSURANCE SOCIETY LIMITEDAS AT DECEMBER 31, 2006$’000$’000Net Liabilities under Policies on Registerin Trinidad and TobagoOther - Outstanding claims on behalf ofIndividual Ordinary Life27,319,30888,523Balance of Long Term Fundper Revenue Account70,728,698Surplus (if any)TOTAL43,320,86770,728,698Deficiency (if any)TOTAL70,728,698-------------------------196REPORT ON INSURANCE AND PENSIONS


TABLESTABLE XXVIGUARDIAN LIFE OF THE CARIBBEAN LIMITEDSUMMARY AND VALUATION OF POLICIES IN RESPECT OF LONG TERM BUSINESS AS AT DECEMBER 31, 2006POLICIES REGISTERED IN TRINIDAD AND TOBAGODESCRIPTION OF TRANSACTIONSNumberofPoliciesSumsInsuredReversionaryBonusOfficeYearlyPremiumsNetYearlyPremiumsNetLiabilityINSURANCE POLICIES$ $ $ $Group 1 - With full participation in profitsLess ReassuranceTOTAL NET FULL PARTICIPATION1,732-1,732135,725,8906,360,303129,365,58768,778,188-68,778,1882,920,101182,6362,737,4651,601,112-1,601,11273,450,29491,31873,358,976With Quarter Participation in ProfitsLess ReassuranceTOTAL NET QUARTER PARTICIPATION439-43930,066,3291,108,35528,957,9743,839,138-3,839,138378,94436,398342,546296,177296,17710,576,45118,19910,558,252Bonus Provision3,822,312TOTAL NET GROUP 12,171158,323,56172,617,3263,080,0111,897,28987,739,540Group 3 - Without participation in profitsLess Reassurance77,29024,376,752,6816,540,942,951153,821323,450,58421,481,9519,134,075693,142,49111,629,667TOTAL NET GROUP 377,29017,835,809,730153,821301,968,6339,134,075681,512,824Group 5 - AnnuitiesLess Reassurance43,31765,391,100463,587207,379,844148,8391,988,984,143TOTAL NET GROUP 543,31765,391,100463,587207,379,844148,8391,988,984,143Group 6 - Other Long Term Insurance BusinessLess Reassurance2214,497,620,7691,937,998,91214,495,8513,546,2707,219,6391,196,488TOTAL NET GROUP 62212,559,621,85710,949,5816,023,151GRAND TOTAL122,99920,619,146,24873,234,734523,378,06911,180,2032,764,259,658VALUATION BALANCE SHEET OF GUARDIAN LIFE OF THE CARIBBEAN LIMITED IN REPECT OF BUSINESS DONE INTRINIDAD AND TOBAGO ONLY AS AT DECEMBER 31, 2006$’000$’000Actuarial ReservesParticipating PoliciesNon Participating Policies87,7402,676,5202,764,260Value of Assets3,915,286Investment & Contingency ReserveParticipating PoliciesNon Participating Policies48,956279,878328,834Current Liabilities(325,894)Unappropriated SurplusParticipating PoliciesNon Participating Policies231,212190,181421,393Share CapitalShareholder’s accountRevaluation Reserve53,3493,04418,512TOTAL3,589,392TOTAL3,589,392----------------------REPORT ON INSURANCE AND PENSIONS 197


TABLESTABLE XXVIISUMMARY AND VALUATION OF POLICIES OF NATIONWIDE INSURANCE COMPANY LIMITEDIN RESPECT OF LONG-TERM BUSINESS AS AT DECEMBER 31,2006POLICIES REGISTERED IN TRINIDAD AND TOBAGODESCRIPTION OF TRANSACTIONSNumberofPoliciesSumsInsuredBonusesOfficeYearlyPremiumsNetLiabilityNegativeReserves$$ $ $ $ $INSURANCE POLICIES-TOTAL NET INSURANCES WITH PROFITS34016,499,3166,357,043332,183.006,644,423TOTAL NET INSURANCES WITHOUT PROFITS1,07790,773,847-1,249,37512,601,875104,331-TOTAL ANNUITIES250---5,747,546TOTAL NET - OTHER LONG TERM LIABILITIES1,65528,329,396-3,191,37810,453,23567,273GRAND TOTAL3,322135,602,5596,357,0434,772,93635,447,079171,604VALUATION BALANCE SHEET OF THE LONG-TERM INSURANCE OFNATIONWIDE INSURANCE COMPANY LIMITED AS AT DECEMBER 31,2006$$Actuarial Liabilities as at 31/12/0642,959,172Fund Carried forward42,959,172Surplus (if any)Deficiency (if any)TOTAL42,959,172TOTAL42,959,172Cash ValueDeficiencies$1,346,8535,899,352-94,2847,340,489--198REPORT ON INSURANCE AND PENSIONS


TABLESTABLE XXVIIISUMMARY AND VALUATION OF POLICIES OF SAGICOR LIFE INCIN RESPECT OF LONG-TERM BUSINESS AS AT DECEMBER 31, 2006POLICIES REGISTERED IN TRINIDAD AND TOBAGODESCRIPTION OF TRANSACTIONS NumberSumsofInsuredPoliciesBonuses OfficeNetNeGATIVEYearlyLiabilityRESERVESPremiums$$INSURANCE POLICIES$$TOTAL NET INSURANCES WITH PROFITS2,098134,495,91324,703,8253,528,56060,521,42465,195TOTAL NET INSURANCES WITHOUT PROFITS5,5732,262,142,91636,302,931(19,457,713)44,219,421TOTAL ANNUITIES3,2378,202,9654,310,98661,299395,999,324TOTAL NET - Other Long Term Insurance Business97,8493,468,340,037220,296,396589,398,63930,370,431GRAND TOTAL108,7575,873,181,83129,014,811260,189,1861,026,461,67474,655,047cASH VALUEDEFICIENCIES$8,308,04744,875,601128,844,841182,028,489----REPORT ON INSURANCE AND PENSIONS 199


TABLESTABLE XXIXSUMMARY AND VALUATION OF POLICIES OF THE SCOTIALIFE TRINIDAD & TOBAGO LIMITEDIN RESPECT OF LONG-TERM BUSINESS AS AT OCTOBER 31, 2006POLICIES REGISTERED IN TRINIDAD AND TOBAGODESCRIPTION OF TRANSACTIONSNumberofPoliciesgrossamountannualPremiumsNetLiability$$ $INSURANCE POLICIESUniversal Life7,974161,630,04032,883,016118,668,162Approved Annuities7173,662,0542,181,6323,662,054Group Life25,598574,622,44413,691,8041,367,866GRAND TOTAL34,289739,914,53848,756,452123,698,082200REPORT ON INSURANCE AND PENSIONS


TABLESTABLE XXXNAME OF PLAN Fund at thebeginningof Period$1.A.S. Bryden and Sons (Trinidad) LimitedPension Plan24,758,5822.Baroids Trinidad Service Limited PensionFund Plan29,854,9543.-Coconut Growers Association Pension FundPlan4.Laughlin and De Gannes and its AssociatedCompanies Staff Pension Fund Plan21,413,2915.Penta Paints (Caribbean) Limited PensionFund Plan6.The Incorporated Trustees of the AnglicanChurch in the Diocese of Trinidad and TobagoGRAND TOTAL76,026,827Deposit Administration853,770,550Annuity76,026,827Grand Total929,797,377Self AdministeredANNUITY PENSION FUND PLANS - REVENUE ACCOUNT - 2006CONTRIBUTIONS BYEmployersEmployeesAdditionalContributionbyEmployersto meetDeficiencyInterests,Dividendsand RentsOtherIncomeTotalRevenuesuperannuation BenefitsPensionstoRetiredEmployeesRetirementGratuitiesTotal$$$$$$$$$1,240,382 463,829- 1,742,485 - 28,205,278 1,727,681- 1,727,681- 327,506- 1,978,338 - 32,160,798 340,443 113,482 453,9255,100 5,100- - 10,200 10,200- 10,200- 2,640- 1,528,494 - 22,944,425 620,617- 620,6171,245,482 799,075- 5,249,317 - 83,320,701 2,698,941 113,482 2,812,42328,715,701 18,154,813 631,523 59,256,284 1,422,175 961,951,046 23,255,916 5,844,420 29,100,3361,245,482 799,075- 5,249,317 - 83,320,701 2,698,941 113,482 2,812,4231,422,17529,961,183 18,953,888 631,523 64,505,6011,045,271,747 25,954,857 5,957,902 31,912,759291,343,391159,494,964DeathGrants$-----626,726-626,726Return ofContributiononWithdrawal$64,8773,465--68,3423,374,13868,3423,442,480OtherExpenditure$245,17489,028-333,036667,2386,313,511667,2386,980,749TotalExpenditure$2,037,732546,41810,200953,6533,548,00339,414,7113,548,00342,962,714Fundsat end ofPeriod$26,167,54631,614,380-21,990,77279,772,698922,536,33579,772,6981,002,309,033REPORT ON INSURANCE AND PENSIONS 201


TABLESTABLE XXXIDEPOSIT ADMINISTRATION PENSION FUND PLANS - REVENUE ACCOUNT - 2006NAME OF PLAN Fund at thebeginningof PeriodCONTRIBUTIONS BYEmployersEmployeesAdditionalContributionsbyEmployersto meetDeficiencyInterests,Dividendsand RentOtherIncomeTotalRevenueSUPERANNUATION BENEFITSPensionstoRetiredEmployeesRetirementGratuitiesTotalDeathGrants$$$$$$$$$$$1 Albrosco Limited Staff Pension Plan9,310,311 189,949672,44210,172,702 180,655180,6552All Trinidad Sugar and General Workers Trade UnionStaff Pension Plan1,949,13941,34329,531144,2782,164,2913 Anthony N. Sabga Limited Pension Fund Plan12,272,290 388,531 388,531830,82913,880,181 95,754 31,919 127,673 96,8844Angostura Bitters (Dr. J.G.B. Siegert & Sons) LimitedPension Fund Plan5 Armour’s Funeral Homes Limited Pension Fund Plan 480,540 6,558 6,55836,117529,7736ASA Wright Nature Centre Pension Fund Plan7Barbados Mutual Life Assurance Society EmployeesPension Plan27,335,1141,301,495895,6721,991,69131,523,972648,29424,661672,9558Bel Air International Airport Hotel Limited PensionPlan401,42877,00028,885507,31367,63828,50896,1469Berger Paints Trinidad Limited Weekly Paid PensionFund Plan3,266,227281,1333,547,360162,03354,011216,04410Bermudez Biscuit Company Limited Pension Plan11British High Commision Pension Fund Plan12Bristol- Myers (West Indies) Limited13Caribbean Bulk Storage Trading Company LimitedPension Fund Plan2,153,61690,235161,39649,5462,454,79336,65336,65314Caribbean Packaging Industries Limited Pension FundPlan for Senior Staff Employees9,511,300668,262885,33511,064,897323,547323,54715Caribbean Packaging Industries Limited Pension FundPlan for Junior Staff Employees7,229,752538,142405,747548,4428,722,083167,64538,292205,93716 CBP Limited Pension Plan3,480,774 631,312 162,679243,7844,518,549 123,063 134,372 257,43517 Century Eslon Limited Pension Plan17,035,873 432,675 432,6751,346,35319,247,576 139,388139,38818Clark & Battoo Ltd. Pension Fund Plan19 Clico Investment Bank Limited Staff Pension Fund Plan 3,989,862 430,002 199,075340,8224,959,76120C.M.B. Packaging Trinidad Limited Pension FundPlan21Coates Brothers (Caribbean) Limited Pension FundPlan6,112,34869,38960,338460,3976,702,47222Colonial Fire and General Insurance Company LimitedPension Fund Plan23Colonial Life Insurance Company (Trinidad) StaffPension Plan24Diego Martin Credit Union Co-Operative SocietyLimited Staff Pension Fund Plan25 Eric Solis Marketing Limited Staff Pension Plan2,453,230 90,242 90,242179,7032,813,417 46,50046,500Carried Forward106,981,804 4,209,873 2,671,048 77,000 7,934,534 934,881 122,809,140 1,991,170 311,763 2,302,933 96,884Return ofContributiononWithdrawal$21,30632,698138,05847,41211,12963,961127,20823,9588,12314,210488,063OtherExpenditure$96,5801,60979,1571,750241,49211,94231,3003,45074,481976,29874,002143,03419,8576,17428,7711,789,897TotalExpenditure$298,54134,307441,7721,750961,859108,088247,34440,103409,1571,246,196331,437409,63043,81514,29789,4814,677,777Fundat end ofPeriod$9,874,1612,129,98413,438,409528,02330,562,113399,2253,300,0162,414,69010,655,7407,475,8874,187,11218,837,9464,915,9466,688,1752,723,936118,131,363-----------------------------------------------------------------------202REPORT ON INSURANCE AND PENSIONS


TABLESTABLE XXXI continuedDEPOSIT ADMINISTRATION PENSION FUND PLANS - REVENUE ACCOUNT - 2006NAME OF PLAN Fund at thebeginningof PeriodCONTRIBUTIONS BYEmployersEmployeesAdditionalContributionsbyEmployersto meetDeficiencyInterests,Dividendsand RentOtherIncomeTotalRevenueSUPERANNUATION BENEFITSPensionstoRetiredEmployeesRetirementGratuitiesTotalDeathGrants$$$$$$$$$$$Brought Forward106,981,804 4,209,873 2,671,048 77,000 7,934,534 934,881 122,809,140 1,991,170 311,763 2,302,933 96,88426 F.T. Farfan and Sons Limited Staff Pension Plan6,326,379 729,356 374,028475,2687,905,031 39,80739,80727 Furness Trinidad Limited Pension Fund Plan8,148,810 181,793 181,793613,2989,125,694 221,801221,80128Fujitsu ICL Caribbean Trinidad Limited PensionPlan9,931,577844,586318,38386763,17811,158,5914,2664,26629Grace Kennedy (Trinidad and Tobago) LimitedPension Fund Plan649,631188,748188,74866,16512,6601,105,95230Group Pension Plan for the Managerial Employees ofAmerican Life and General Insurance Company(Trinidad) Limited10,423,787311,610311,610771,58511,818,59231Group Pension Plan for the Non-ManagerialEmployees of American Life and General InsuranceCompany (Trinidad) Limited16,187,308634,431634,9311,296,57318,753,243120,684120,68432 Gulf Engineering Services Limited Pension Fund Plan 2,346,155 299,346 149,673167,8832,963,05733Gulf Insurance Limited Pension Fund Plan34Halliburnton Trinidad Limited Pension Plan35Home Construction Limited Pension Plan36J.N. Harriman & Company Limited PensionPlan14,254,772141,974141,974955,58015,494,300811,512811,51237Johnson and Johnson (Trinidad) Limited Staff PensionFund Plan49,730,1502,060,603254,73252,045,485823,553185,5641,009,11776,84538Joseph Charles Bottling Works and InvestmentsLimited Pension Fund Plan39J.T.A. Supermarkets Limited Pension Fund Plan40 Junior Schools Limited Pension Fund Plan2,823,894 94,185 94,185 4,123 203,8633,220,250 72,99672,99641Lake Asphalt of Trinidad and Tobago (1978) LimitedStaff Pension Plan8,691,026117,930117,931642,4209,569,30742Lake Asphalt of Trinidad and Tobago (1978) LimitedEmployees Pension Plan22,431,541298,4011,174,5131,485,92925,390,3841,032,866796,1151,828,98143Lange Trinidad Limited (Division of Skinner MarineOperations) Pension Fund Plan10,617,576382,365190,502802,62711,993,070197,243949,3721,146,61544 Lazzari and Sampson Limited Pension Fund7,834,991 200,423 200,423683,5368,919,373 427,275 152,884 580,15945Life of Barbados Limited Pension Plan46 L.J. William Limited Pension Fund Plan9,772,601 141,935 141,935717,60710,774,07847Lonsdale/Saatchi & Saatchi Advertising LimitedStaff Pension Plan48Maritime Life (Caribbean) Limited PensionFund Plan37,212,8831,076,0671,076,0671,821,76141,186,778584,102194,700778,80249Master Mix of Trinidad & Tobago Limited StaffPension Fund Plan6,797,270592,0017,389,271208,74193,826302,56750Mc Cann-Erickson (Trinidad) Limited StaffPension Fund Plan8,562,701235,596178,656610,2869,587,239120,106120,106Carried Forward339,724,856 10,088,619 8,146,400 81,123 21,902,386 1,265,451 381,208,835 6,651,856 2,688,490 9,340,346 173,729Return ofContributiononWithdrawal$488,063104,30486,11754,945107,08054,827124,99661,79348,98098,63421,86312,80652,384167,23961,1291,545,160OtherExpenditure$1,789,89796,32250,082359,78412,66024,253150,285378,04630,2338,97631,143149,86479,64912,5531,00069,6203,244,367TotalExpenditure$4,677,777240,433358,000418,995119,74054,827245,68024,2531,023,5901,512,988103,2298,9761,958,7581,318,342672,61464,937946,041303,567250,85514,303,602Fundat end ofPeriod$118,131,3637,664,5988,767,69410,739,596986,21211,763,76518,507,5632,938,80414,470,71050,532,4973,117,0219,560,33123,431,62610,674,7288,246,75910,709,14140,240,7377,085,7049,336,384366,905,233----------------------------------------------------------------------------------REPORT ON INSURANCE AND PENSIONS 203


TABLESTABLE XXXI continuedDEPOSIT ADMINISTRATION PENSION FUND PLANS - REVENUE ACCOUNT - 2006NAME OF PLAN Fund at thebeginningof PeriodCONTRIBUTIONS BYEmployersEmployeesAdditionalContributionsbyEmployersto meetDeficiencyInterests,Dividendsand RentOtherIncomeTotalRevenueSUPERANNUATION BENEFITSPensionstoRetiredEmployeesRetirementGratuitiesTotalDeathGrants$$$$$$$$$$$Brought Forward339,724,856 10,088,619 8,146,400 81,123 21,902,386 1,265,451 381,208,835 6,651,856 2,688,490 9,340,346 173,72951Medianet Limited Monthly Paid Staff Pension Plan52 MTS Pension Fund Plan14,174,242 2,138,749 586,7041,101,37418,001,069 125,032 359,714 484,746533M Interamerica Incorporate (Trinidad and Tobago)Division Pension Fund Plan10,610,113282,326282,326782,85611,957,62154 National Agro Chemicals Limited Pension Fund Plan 234,647 40,599 30,3849,620 27,343 342,593 70,98370,98355National Flour Mills Limited Pension Fund Planfor Employees of the Company56National Helicopter Services Limited Pension FundPlan7,641,254289,958289,958559,6858,780,85557Navarro’s Shipping Limited Pension Plan58N.E.M. (West Indies) Limited Pension Fund Plan59 Oilfields Workers Trade Union Staff Pension Fund Plan 24,384,245 203,173 79,0123,012 (44,499) 24,624,943 489,790 5,723 495,51360Pepsi Cola Trinidad Bottling Company Ltd. PensionFund Plan2,188,854340,727327,937190,1743,047,69228,20461 Perreira & Company Limited Staff Pension Fund Plan 4,417,338 232,907 207,953337,4675,195,665 154,488154,48862 Prestige Holdings Limited Pension Fund Plan8,978,649 419,405 419,405367,64110,185,100 22,35722,35763 Print - A - Pak Limited Pension Plan991,482 119,786 120,50675,8981,307,6727,570 7,57064R.B.P. Elevator and Escalator Company LimitedPension Plan3,414,777118,026118,026311,8463,962,675210,165210,16565 Rentokil (Trinidad) Limited Pension Fund Plan3,893,982 269,564 171,220367,2814,702,04766Rhand Credit Union Co-operative Society LimitedPension Plan5,383,75082,11481,780390,6605,938,30467Royal Caribbean Insurance Limited Group PensionFund Plan68Sealand Services Inc. PensionPlan69Selco Limited Pension Fund Plan70 Stellar Distributors (Trinidad) Staff Pension Plan4,381,266 32,519 32,519357,7514,804,05520,28171Small Business Development Company Limited StaffPension Fund Plan72 Southern Medical Clinic Limited Pension Fund Plan 3,391,798 62,422 39,010247,1983,740,428 29,652 112,904 142,556 33,73573Southern Sales and Services Company LimitedPension Fund Plan41,489,918292,922292,9221,043,59043,119,352943,808148,7561,092,56432,33174TECU Credit Union Co-operative Society LimitedPension Fund Plan75Tatil Life Sales Representatives Pension PlanCarried Forward475,301,171 15,013,816 11,226,062 81,123 28,048,439 1,248,295 530,918,906 8,698,131 3,323,157 12,021,288 288,280Return ofContributiononWithdrawal$1,545,16061,017135,85944,36757,71817,6164,80024,28811,23724,3169,457118,8132,054,648OtherExpenditure$3,244,367219,09275,92221,151456,78257,50217,64112,58234,91923,11811,3042,65919,15047,21635,5924,278,997TotalExpenditure$14,303,602764,855211,78170,98365,518952,295143,424189,74539,73966,777233,28322,54126,97539,431232,9641,279,30018,643,213Fundat end ofPeriod$366,905,23317,236,21411,745,840271,6108,715,33723,672,6482,904,2685,005,92010,145,3611,240,8953,729,3924,679,5065,911,3294,764,6243,507,46441,840,052512,275,693-------------------------------------------------------------------204REPORT ON INSURANCE AND PENSIONS


TABLESTABLE XXXI continuedDEPOSIT ADMINISTRATION PENSION FUND PLANS - REVENUE ACCOUNT - 2006NAME OF PLAN Fund at thebeginningof PeriodCONTRIBUTIONS BYEmployersEmployeesAdditionalContributionsbyEmployersto meetDeficiencyInterests,Dividendsand RentOtherIncomeTotalRevenueSUPERANNUATION BENEFITSPensionstoRetiredEmployeesRetirementGratuitiesTotalDeathGrants$$$$$$$$$$$Brought Forward475,301,171 15,013,816 11,226,062 81,123 28,048,439 1,248,295 530,918,906 8,698,131 3,323,157 12,021,288 288,28076The Agents of American Life and General InsuranceCompany (Trinidad) Limited Pension Scheme19,559,623520,715518,8381,433,49122,032,6672,520,7482,520,74877The Beacon Insurance Company Limited Pension Planfor Monthly and Weekly Paid Employees9,145,600347,191242,790637,58110,373,162446,66756,365503,0321,99278The Group Pension Plan for Non-ProfessionalEmployees of Fitzstone Ltd.79The Institute of Marine Affairs Pension Plan80The Myerson Tooth Company Limited Pension FundPlan22,542,489300,068209,838(3,057)1,044,96124,094,299716,777716,77781The Synod of the Presbyterian Church in TrinidadPension Plan6,889,142130,952130,951513,0277,664,072593,778593,77882The Trinidad Pilots and Berthing Masters AssociationLimited Pension Fund Plan18,513,2802,033,037730,8601,291,17422,568,351500,675500,67583The University of the West Indies (St. Augustine)Staff Pension Fund Plan181,740,3536,214,6152,674,92219,153,742209,783,6325,888,0922,180,5568,068,64884Tourism and Industrial Development Company ofTrinidad and Tobago Pension Plan7,770,986426,408196,062540,3118,933,7671,681,8861,681,88685 Toyota Trinidad and Tobago Staff Pension Plan2,617,204 335,272 335,271210,966 19,007 3,517,72086Trinidad Concrete Products Company LimitedPension Fund Plan87 Trinidad Contractors Limited Pension Fund Plan19,156,7831,358,57320,515,356 753,131 89,380 842,51188Trinidad Express Newspaper Limited Pension FundPlan.49,495,5781,751,4151,198,9313,193,459(890,088)54,749,295228,880228,88089Trinidad Nitrogen Company Limited Staff PensionFund Plan1,666,31669,96039,942550,400135,8552,462,47390Trinidad Ropeworks Limited Pension Plan91Trinidad Systems Limited Pension Fund Plan92Trinidad and Tobago Chamber of CommercePension Plan66,44346,510112,953103,705103,70593Trinidad and Tobago Mortgage Finance CompanyLimited Pension Plan94Trinidad andTobago Solid Waste ManagementCompany Limited Pension Fund Plan7,896,841557,4208,454,26196,13496,13495United States of America Embassy in Trinidad andTobago Pension Plan19,388,5461,250,768348,7951,323,95422,312,063584,888194,962779,85096 Waste Disposals Limited Pension Fund Plan6,341,625 173,230 173,230416,1497,104,234 4,1544,154 336,45497 Western Scientific Company Pension Plan1,090,483 46,230 46,230101,4641,284,40798 William H. Scott Limited Pension Fund Plan4,654,530 35,581 35,581343,7365,069,428 438,270438,27099Youth Training Employment Patrnership ProgrammePension PlanGRAND TOTAL853,770,550 28,715,701 18,154,813 631,523 59,256,284 1,422,175 961,951,046 23,255,916 5,844,420 29,100,336 626,726Return ofContributiononWithdrawal$2,054,64849,98842,56723,526311,15766,179142,09967,862561,89716,15926,29011,7663,374,138OtherExpenditure$4,278,99798,699358,0899,610144,009357,79240,51320,127217,896431,18218,1279,248105,735128,07187,7433,9743,6996,313,511TotalExpenditure$18,643,2132,570,736646,2901,098,392603,388955,8418,492,6191,864,49887,9891,060,4071,221,95918,127112,953201,869924,080454,6413,974453,73539,414,711Fundat end ofPeriod$512,275,69319,461,9319,726,87222,995,9077,060,68421,612,510201,291,0137,069,2693,429,73119,454,94953,527,3362,444,3468,252,39221,387,9836,649,5931,280,4334,615,693922,536,335------------------------------------------------------------------------------REPORT ON INSURANCE AND PENSIONS 205


TABLESNAME OF PLAN1Agostini Insurance Brokers LimitedPension Fund Plan2Agostini’s Limited Retirement Plan3Airports Authority of Trinidad& Tobago Pension Fund4Alstons Limited Pension Fund Plan5Amoco Trinidad Oil CompanyPension Fund Plan6ANSA Mc Al Limited Pension FundPlan7Associated Brands Limited GroupPension Fund Plan8Atlantic LNG Pension Plan9Bank of Commerce Trinidad andTobago Limited Retirement Plan10Bawodes Pension Fund Plan11Berger Paints Trinidad LimitedPension Fund Plan(Monthly Paid Employees)12British-American Insurance Company(Trinidad) Limited Pension Fund Plan13British Gas Trinidad Limited PensionPlan14BWIA General Staff Pension FundPlan15BWIA Pilots Pension Plan16Caribbean Industrial ResearchInstitute Pension Fund Plan17Central Bank of Trinidad and TobagoPension Fund Plan18Citibank (Trinidad and Tobago)Limited Pension Plan19Coca Cola Bottling (Trinidad andTobago ) Limited Pension Fund Plan20Consolidated Insurance ConsultantsLimited Staff Pension Fund Plan21Coopers and Lybrand PensionFund Plan22Courts Trinidad Limited Pension Plan23Cuna Caribbean Insurance SocietyPension Fund Plan24Development Finance LimitedPension Fund Plan25EOG Resources Trinidad LimitedPension Fund PlanCarried ForwardTABLE XXXIITrinidad andTobagoGovernmentSecuritiesdenoted inT.T. $MortgagesRealEstate$ $ $4,406,2678,196,1967,613,10038,865,036 918,0405,632,7231,113,8953,466,022302,3452,921,646 459,02015,386,516 2,215,3322,136,7613,440,0382,806,1583,345,816640,00032,063,111 40,76420,321,291114,5486,502,8216,157,800 326,3633,074,1881,919,3131,589,0355,535,556965,334893,522176,912,916 6,455,641Trinidad andTobagoEquities$14,905,58621,689,49026,413,219127,377,85616,809,01713,416,8144,082,11353,911,23710,285,3934,298,2564,484,68245,710,55854,721,18424,714,0484,926,77636,777,9821,829,5995,683,76210,507,38812,240,6332,917,249497,702,842Fixed / callDeposit$3,169,7736,354,43053,396,80714,307,6348,154,4672,568,7624,160,7806,252,57510,170,7671,700,0002,634,0863,000,00021,725,1763,012,898939,805141,547,960OtherTrinidad andTobagoAssets$7,418,52718,503,88543,686,352158,431,52320,468,17416,726,96514,240,94381,189,0466,799,0826,952,9561,648,2138,883,563134,274,90524,829,16216,719,2202,601,29332,307,0659,222,2657,805,39513,482,21112,945,6273,416,827642,553,199SELF ADMINISTERED - BALANCE SHEET - 2006Trinidad andTobagoSecuritiesdenoted inForeignCurrency$Trinidad &TobagoGovernmentSecuritiesdenoted inForeignCurrency$10%Caricom:Equity$10%Caricom:Government$10%Caricom:Other$TotalLocalAssets$90%Caricom:Equity$90%Caricom:Government$90%Caricom:Other$1,409,228116,649 116,910 116,037 31,658,977 1,049,843 1,052,189 1,044,32988,005 309,850 130,11355,271,969 1,171,014869,09278,670 8,95578,669,388 708,030 80,59137,811,687981,221 185,521 262,909 418,230,600 8,830,985 1,669,688 2,366,1831,546,844 332,458 384,450 93,936 161,733 46,543,231 3,460,050 845,427 1,455,6001,815,993 332,458 295,500 56,559 63,831 36,476,488 2,659,500 509,035 574,481359,68983,149 50,010 35,980 36,540,184 748,343 450,090 323,8194,902,850 680,354 400,007 102,307166,942,116 3,600,063 920,7608,935,843557,612 53,362 20,44823,878,570 480,254 184,029437,857 275,02813,626,291 3,940,711 2,475,248439,15363,212 30,67223,499,672 568,904 276,04416,081,799 1,877,996 950,137 495,292 528,086 210,729,540 8,551,235 4,457,627 4,752,7701,667,723115,021,9447,169,786 664,916 220,969 85,609 15,308 70,025,695 1,988,721 770,480 137,776227,90516,692,883 251,1485,808,447 657,168 516,825 232,678 158,506 85,942,834 4,651,421 2,094,101 1,426,55476,612 61,65135,989,491 689,506 554,857190,19335,96918,647,530 323,7241,068,842 262,867 35,350 33,239 19,813 26,998,745 318,150 299,152 178,3201,148,890 664,916 282,77133,783,727 2,544,93987,80136,419 10,4218,302,044 327,775 93,78982,466,024 6,340,595 5,207,146 1,859,234 1,362,204 1,562,407,761 46,864,316 16,733,107 12,259,832ForeignGovernmentSecurities$300,596225,447384,943535,1591,446,145OtherForeignSecurities$2,078,5483,269,4002,583,9347,931,882ForeignEquity$5,556,5271,101,47153,800,7245,166,1493,652,1321,897,33022,792,5083,867,3891,185,221611,6303,098,4605,410,4301,067,852948,7991,601,192776,716112,534,530TotalForeignAssets$5,224,9096,727,5411,890,09266,667,57911,227,8217,620,5943,419,58230,582,7314,531,6736,415,9592,030,16920,957,1963,098,4608,692,3501,319,0008,707,2362,193,1621,924,916795,6222,544,9391,198,280197,769,811TotalAssetsin Fund$36,883,88661,999,51080,559,480484,898,17957,771,05244,097,08239,959,766197,524,8478,935,84328,410,24320,042,25025,529,841231,686,736118,120,40478,718,04518,011,88394,650,06938,182,65320,572,44627,794,36736,328,6669,500,3241,760,177,572TotalLocalAssetRatio$85.8389.1597.6586.2580.5682.7291.4484.52100.0084.0567.9992.0590.9597.3888.9692.6890.8094.2690.6497.1492.9987.3988.76LOCALEQUITY$40353326293010273621182046312739528383431100%Caricom:Equity$1,166,4921,301,127786,7009,812,2053,844,5002,955,000831,4924,000,070533,6164,378,568632,1169,501,3722,209,690279,0535,168,246766,118359,693353,5002,827,710364,19452,071,462100%Caricom:Government$1,169,09989,5461,855,209939,363565,594500,1001,023,067204,4772,750,275306,7154,952,919856,0892,326,779616,508332,391104,21018,592,341100%Caricom:Other$1,160,3662,629,0921,617,333638,312359,7995,280,856153,0841,585,060198,13313,622,035------------------------------------------------------------------------------------------------------------------------------------------------------------------------206REPORT ON INSURANCE AND PENSIONS


TABLESNAME OF PLANBrought Forward26E & Y Services Limited PensionScheme27Ferreira Optical Limited PensionFund Plan28First Citizen Bank Pension Plan29Hand Arnold (Trinidad) LimitedEmployees PensionScheme30H.S. Services Limited Pension FundPlan31Hydro Agri Trinidad Limited SalariedEmployeesPension Plan32I A L Engineering Sevices LimitedPension Fund Plan33I.B.M. Non Contributory PensionFund Plan34Insurance Brokers (West Indies)Limited Pension Fund Plan35Lever Brothers West Indies LimitedPension Fund Plan36Mandev-Qualassure Pension FundPlan37Mega Insurance Company LimitedPension Plan38Mittal Steel Point Lisas LimitedEmployees’ Pension Fund Plan39National Gas Company PensionFund Plan40National Insurance Board PensionFund Plan41National Insurance PropertyDevelopment CompanyLimited Pension Fund Plan42National Union of Government andFederated Workers Elected OfficersPension Fund Plan43National Union of Government andFederated Workers Staff PensionFund Plan44Neal and Massy Group Pension Plan45Nestle Trinidad and Tobago LimitedPension Fund Plan46Nestle Trinidad and Tobago LimitedUnionised Employees’ Pension Plan47Niherst Pension Fund Plan48PCS Nitrogen Trinidad LimitedPension Fund Plan No I49PCS Nitrogen Trinidad LimitedPension Fund Plan No II50Phoenix Park Gas Processors LimitedStaff PensionPlanCarried ForwardTABLE XXXII continuedSELF ADMINISTERED - BALANCE SHEET - 2006Trinidad andTobagoGovernmentSecuritiesdenoted inT.T. $$Mortgages$RealEstate$Trinidad andTobagoEquities$Fixed / callDeposit$OtherTrinidad andTobagoAssets$Trinidad andTobagoSecuritiesdenoted inForeignCurrency$Trinidad &TobagoGovernmentSecuritiesdenoted inForeignCurrency$10%Caricom:Equity$10%Caricom:Government$10%Caricom:Other$TotalLocalAssets$90%Caricom:Equity$90%Caricom:Government$90%Caricom:Other$176,912,916 6,455,641497,702,842 141,547,960 642,553,199 82,466,024 6,340,595 5,207,146 1,859,234 1,362,204 1,562,407,761 46,864,316 16,733,107 12,259,8323,146,9879,625,087 4,533,465 6,405,731 70,241 1,875,239 60,175 83,36825,800,293 541,573 750,3121,083,842 1,168,8393,429,8423,813,669 644,795 132,959 38,525 7,22210,319,693 346,725 64,99771,595,750 1,388,072244,759,765 2,800,000 223,743,661 21,022,790701,050 1,337,663567,348,751 6,309,450 12,038,9682,638,421 874,58623,094,276 1,500,000 22,293,408 2,137,337 328,584 309,425 143,867 104,062 53,423,966 2,784,825 1,294,803 936,5572,218,370 207,1582,118,7813,295,903 603,135164,0748,607,421 1,476,6694,479,964 351,19625,424,73022,100,092 4,577,409 332,458 145,350 116,955 61,440 57,589,594 1,308,150 1,052,594 552,962800,00034,893,865 64,003 1,538,60037,296,468585,072665,2236,189,35730,9287,470,580 278,3499,627,927 105,40021,648,838 500,000 26,355,482 3,453,85910,85061,702,356 97,6506,295,591 526,01710,625,4596,668,196 952,834 332,458 93,683.50 64,287.30 19,713 25,578,239 843,152 578,586 177,41848,552,715 12,904,594196,812,779 86,358,469 221,278,293 1,916,938 3,154,190 1,157,173 124,813 632,605 572,892,568 10,414,554 1,123,315 5,693,4412,938,764113,779,981 22,750,198 63,439,329 9,221,0502,462,151 11,840214,603,313 22,159,355 106,56262,679,236 472,285246,337,216 16,883,345 214,499,167 6,604,417 11,960,937 1,100,685 177,699560,714,987 9,906,165 1,599,2894,379,20018,707,797 250,000 15,558,641 1,341,082161,555 9,84640,408,121 1,453,995 88,615958,226645,464 51,753 896,61923,248 7,1572,582,467 209,232 64,4102,331,6099,217,146 99,160 10,576,678 43,733 56,064 31,800 2,33622,358,526 286,200 21,02428,093,418 7,922,143495,030,662 25,000,000 305,576,226 34,356,241 10,518,473 3,661,940 1,539,081 2,600,000 914,298,183 32,957,458 13,851,725 23,400,0007,739,11220,643,518 10,335,447 29,573,803308,688 102,238 44,448 68,747,254 2,778,192 920,146 400,0302,032,2195,950,540 6,371,057 8,201,215251,820 81,79122,888,642 2,266,380 736,1163,041,0966,000,752 700,000 11,489,411 791,00818,345 3,48822,044,100 165,105 31,38855,210,050 3,949,257120,219,507107,825,031 16,137,745 3,324,581 748,550 432,895 397,149 308,244,765 6,736,950 3,896,056 3,574,3432,335,4957,546,8577,450,311 1,221,43932,58018,586,682293,2224,915,762 167,8028,391,9069,949,524 301,505141,440 13,591 20,576 23,902,106 1,272,960 122,318 185,183504,591,742 36,492,9902,088,378,968 319,680,854 2,004,626,811 187,927,585 39,895,138 16,828,601 6,151,950 5,242,196 5,209,816,835 151,457,405 55,367,553 47,179,766ForeignGovernmentSecurities$1,446,145358,533141,218382,595150,2984,319,913149,0936,947,795OtherForeignSecurities$7,931,8826187,299,4531,395,76516,627,718ForeignEquity$112,534,5304,555,004694,24617,223,8591,010,780759,7823,065,46813,002,172669,1611,090,63255,192,88128,218,62116,494,130721,555176,053173,23316,906,4354,401,325704,212304,26138,614,5952,999,7521,762,766321,275,453TotalForeignAssets$197,769,8115,846,8891,105,96835,572,2776,385,4982,377,6696,361,76913,002,172278,349766,8112,840,08572,424,19250,485,15527,999,5842,264,165449,695480,45798,734,9848,499,6933,706,708500,75452,821,9443,292,9744,888,085598,855,689TotalAssetsin Fund$1,760,177,57231,647,18211,425,661602,921,02859,809,46410,985,09063,951,36350,298,6407,748,92962,469,16728,418,324645,316,760265,088,468588,714,57142,672,2863,032,16222,838,9831,013,033,16777,246,94726,595,35022,544,854361,066,70921,879,65628,790,1915,808,672,524TotalLocalAssetRatio$88.7681.5290.3294.1089.3278.3690.0574.1596.4198.7790.0188.7880.9695.2494.6985.1797.9090.2589.0086.0697.7885.3784.9583.0289.69LOCALEQUITY$30304139194009353730434244214049272227333429100%Caricom:Equity$52,071,462601,748385,2507,010,5003,094,2501,640,7431,453,500309,277108,500936,83511,571,72724,621,50511,006,8501,615,550232,480318,00036,619,3983,086,8802,518,200183,4507,485,5001,414,400168,286,005100%Caricom:Government$18,592,341833,68072,21913,376,6311,438,6701,169,549642,8731,248,128118,4021,776,98898,46171,56723,36015,390,8051,022,384817,90734,8764,328,951325,802135,90961,519,503100%Caricom:Other$13,622,0351,040,619614,402197,1316,326,04626,000,000444,4783,971,492205,75952,421,962------------------------------------------------------------------------------------------------------------------------------------------------------------------REPORT ON INSURANCE AND PENSIONS 207


TABLESNAME OF PLANBrought Forward51Point Lisas Industrial DevelopmentCorporation Pension Fund Plan52Port Authority of Trinidad and Tobago(Daily / Weekly) Pension Plan53Port Authority of Trinidad and Tobago(Monthly Paid) Pension Plan54PriceWaterhouseCoopers LimitedPension Plan55RBTT Pension Plan56Republic Bank of Trinidad and TobagoLimited Pension Fund Plan57RHA Pension Plan58Scotiabank Trinidad and TobagoLimited Pension Fund Plan59Servol Limited Pension Fund Plan60Telecommunications Services ofTrinidad and TobagoLimited Pension Fund Plan61Texaco (Trinidad) Limited StaffRetirement Plan62The Demerara Life Assurance Companyof Trinidad and Tobago LimitedSales Staff Pension Fund Plan63The Guyana and Trinidad Mutual FireInsurance Company Pension Plan64The Home Mortgage Bank PensionFund Plan65The Mercantile Banking and FinanceCorporation Ltd. Pension Fund Plan66The West Indian TobaccoCompany Ltd. Pension Fund Plan67Thomas Peake and CompanyLimited Pension Plan68Trinidad Building and LoanAssociation Pension Fund Plan69Trinidad Cement Limited EmployeesPension Fund Plan70Trinidad Hilton Limited PensionFund Plan71Trinidad and Tobago EletricityCommission Pension Fund Plan72Trinidad and Tobago ElectricityCommission Provident Fund73Trinidad and Tobago ExternalTelecommunicationsCompany Limited Pension Fund74Trinidad and Tobago MethanolCompany Limited Pension Fund Plan75Trinidad and Tobago NationalPetroleum Marketing CompanyLimited Contributory Pension Plan ICarried ForwardTABLE XXXII continuedSELF ADMINISTERED - BALANCE SHEET - 2006Trinidad andTobagoGovernmentSecuritiesdenoted inT.T. $$Mortgages$RealEstate$Trinidad andTobagoEquities$Fixed / callDeposit$OtherTrinidad andTobagoAssets$Trinidad andTobagoSecuritiesdenoted inForeignCurrency$Trinidad &TobagoGovernmentSecuritiesdenoted inForeignCurrency$10%Caricom:Equity$10%Caricom:Government$10%Caricom:Other$TotalLocalAssets$90%Caricom:Equity$90%Caricom:Government$90%Caricom:Other$ForeignGovernmentSecurities$504,591,742 36,492,9902,088,378,968 319,680,854 2,004,626,811 187,927,585 39,895,138 16,828,601 6,151,950 5,242,196 5,209,816,835 151,457,405 55,367,553 47,179,766 6,947,79510,558,9988,813,657 153,698 31,509,206163,95051,199,509 1,475,5501,262,7946,687,351 1,302,7949,252,93934,848,094 274,13425,088,08788,210,558867,512 497,282149,785,666 7,807,604 4,475,534167,591,347 19,577,142 8,570,000 692,498,274 370,763,288 479,699,898 69,702,154 3,051,506 5,350,586 182,540 620,825 1,817,607,560 48,155,276 1,642,859 5,587,42569,838,914 17,764,892 15,683,400 104,133,566 2,000,000 147,527,19138,839,208 530,808 1,869,378398,187,357 4,777,269 16,824,406533,7007,088,4578,425,361255,647 142,75516,445,920 1,284,79131,815,302 2,973,424160,267,075974,758,037 24,973,392 2,472,584 1,768,058 156,673 2,595,574 1,201,780,120 15,912,525 1,410,060 23,360,167 4,889,3516,236,23326,134,065 2,039,244 3,032,593116,69820,448 37,579,281 1,050,281184,02939,7966,145,344 1,027,105 1,724,0928,936,33744,5002,877,3599,7502,931,609 87,75011,450,324 1,427,41735,755,01423,018,130 22,277,534 664,916 746,255 801,67196,141,261 6,716,295 7,215,036765,1913,349,2877,983,647 2,228,164 5,140,806 44,002 61,602 50,056 21,47018,879,034 450,501 193,23135,920,939 12,255,815244,940,059 93,518,885 160,774,454 3,364,298 2,523,352 1,365,555 338,031 613,913 555,615,301 12,289,995 3,042,277 5,525,21492,128,531 108,257,2251,972,923,554 305,158,640 446,116,361 260,730,19313,482,3723,531,395 3,202,328,271 121,341,35131,782,55311,482,61156,01711,538,62844,347,986 9,439,329185,923,580132,822,320 36,409,145 9,901,957 1,195,650 1,973,449 1,234,584 423,248,000 10,760,850 17,761,037 11,111,258 2,151,5193,271,178 518,23211,778,795 110,121,073 19,103,33833,600 122,686144,948,902 302,400 1,104,17514,223,57562,435,668 22,460,523 65,945,711 2,823,309 860,876 457,319 185,599 670,434 170,063,015 4,115,868 1,670,395 6,033,9101,030,745,946 208,980,600 24,253,400 5,641,595,104 1,240,634,085 4,602,055,594 609,554,406 98,526,786 43,109,523 12,300,729 14,529,369 13,526,285,543 387,985,710 110,706,562 130,764,322 14,753,856OtherForeignSecurities$16,627,7183,225,239461,2503,810,1317,955,99532,080,333ForeignEquity$321,275,4535,891,591323,768,6683,274,1626,128,2266,603,6972,367,00020,309,4627,821,03018,366,97525,281,871741,088,135TotalForeignAssets$598,855,6891,475,55018,174,728379,154,22824,826,9141,746,04152,656,3957,362,53687,75021,300,2193,010,73249,122,944153,123,90449,605,69419,773,55037,102,0441,417,378,918TotalAssetsin Fund$5,808,672,52452,675,0599,252,939167,960,3942,196,761,788423,014,27118,191,9601,254,436,51544,941,8178,936,3373,019,359117,441,48021,889,766604,738,2443,355,452,17511,538,628472,853,694164,722,452207,165,05814,943,664,460TotalLocalAssetRatio$89.6997.20100.0089.1882.7494.1390.4095.8083.62100.0097.0981.8686.2591.8895.44100.0089.5188.0082.0990.52LOCALEQUITY$17141532253913586913036415939730100%Caricom:Equity$168,286,0051,639,5008,675,11553,505,8625,308,0771,427,54517,680,5831,166,97997,5007,462,550500,55713,655,550134,823,72311,956,500336,0004,573,187431,095,233100%Caricom:Government$61,519,5034,972,8151,825,39918,693,7841,566,7338,016,707214,7013,380,30819,734,4861,226,8611,855,994123,007,291100%Caricom:Other$52,421,9626,208,25025,955,741204,4776,139,12735,313,94812,345,8426,704,344145,293,691----------------------------------------------------------------------------------------------------------------------------------------------------------------208REPORT ON INSURANCE AND PENSIONS


TABLESNAME OF PLANBrought Forward76Trinidad and Tobago NationalPetroleum MarketingCompany Limited ContributoryPension Plan II77Trinidad and Tobago Oil CompanyLimited Contributory PensionFund “A”78Trinidad and Tobago Oil CompanyLimited Contributory PensionFund “B”79Trinidad and Tobago Oil CompanyLimited Non-Contributory PensionFund80Trinidad and Tobago Oil CompanyLimited Employeess’ Benefit Plan81Trinidad and Tobago Oil CompanyLimited Staff Retirement Plan82Trinidad and Tobago PetroleumCompany Limited EmployeesPension Fund Plan83Trinidad and Tobago PetroleumCompany LimitedStaff Pension Fund Plan84Trinidad and Tobago PortContractors Limited EmployeesPension Fund Plan85Trinidad and Tobago TelephoneCompany LimitedStaff Pension Fund Plan86Trinidad and Tobago Unit TrustCorporation PensionFund Plan87Trinmar Limited EmployeesBenefit Plan88Trintoplan Consultant Limited StaffPension Plan89T. Geddes Grant (Trinidad) StaffSavings and Pension Fund Plan90T. Geddes Grant Limited PensionFund Plan91Water and Sewerage AuthorityPension Fund Plan92Y De Lima & Company LimitedStaff PensionFund PlanGRAND TOTALTABLE XXXII continuedSELF ADMINISTERED - BALANCE SHEET - 2006Trinidad andTobagoGovernmentSecuritiesdenoted inT.T. $$Mortgages$RealEstate$Trinidad andTobagoEquities$Fixed / callDeposit$OtherTrinidad andTobagoAssets$Trinidad andTobagoSecuritiesdenoted inForeignCurrency$Trinidad &TobagoGovernmentSecuritiesdenoted inForeignCurrency$10%Caricom:Equity$10%Caricom:Government$10%Caricom:Other$TotalLocalAssets$90%Caricom:Equity$90%Caricom:Government$90%Caricom:Other$ForeignGovernmentSecurities$1,030,745,946 208,980,600 24,253,400 5,641,595,104 1,240,634,085 4,602,055,594 609,554,406 98,526,786 43,109,523 12,300,729 14,529,369 13,526,285,543 387,985,710 110,706,562 130,764,322 14,753,85620,359,184 4,636,34073,151,213 500,000 88,576,098 14,851,939 372,750 1,045,325203,492,849 9,407,92183,131,374 9,919,194261,952,194 37,350,000 290,123,194 31,931,4452,902,970 2,529,459 780,599 720,620,428 26,126,728 22,765,127 7,025,391 3,578,38390,236,669 13,678,342321,993,007 20,000,000 367,874,934 52,172,7523,243,705 4,485,648 1,967,484 875,652,540 29,193,345 40,370,830 17,707,352 5,735,139222,236,740 7,075,788662,709,632 29,956,000 526,546,361 155,162,940 15,835,983 5,088,618 6,667,657 11,183,772 1,642,463,491 45,797,558 60,008,914 100,653,94761,378,95161,378,95132,817,219 9,067,403121,269,153159,326,755 10,994,681 3,334,620 1,582,886 1,689,099 480,292 340,562,108 14,245,974 15,201,887 4,322,629 1,816,59996,029,754218,304,065 13,999,161 112,795,987 1,663,555 2,457,220 207,275 80,511445,537,528 1,865,475 724,6013,099,560 292,5671,563,1595,443,175 12,91552,6937,943 10,472,012 474,23771,4871,578,656,446 253,650,234 24,253,400 7,302,537,527 1,342,439,246 6,214,121,049 876,344,633 120,527,359 57,232,994 27,753,102 28,949,459 17,826,465,449 515,096,947 249,777,922 260,545,127 25,883,977OtherForeignSecurities$32,080,333132,968,551165,048,884ForeignEquity$741,088,1353,012,15563,380,56439,422,8769,047,510855,951,240TotalForeignAssets$1,417,378,91812,420,076122,876,194225,975,217206,460,41975,009,96511,637,586545,7242,072,304,097TotalAssetsin Fund$14,943,664,460215,912,924843,496,6221,101,627,7571,848,923,90961,378,951415,572,073457,175,11411,017,73619,898,769,546TotalLocalAssetRatio$90.5294.2585.4379.4988.83100.0081.9597.4595.0589.59LOCALEQUITYRATIO$34312936294814100%Caricom:Equity$431,095,23310,453,24529,029,69832,437,05050,886,17515,828,8602,072,750526,930572,329,941100%Caricom:Government$123,007,29125,294,58644,856,47866,676,57116,890,986805,112277,531,024100%Caricom:Other$145,293,6917,805,99019,674,835111,837,7194,802,92179,430289,494,586--------------------------------------------------------REPORT ON INSURANCE AND PENSIONS 209


TABLESTABLE XXXIIISELF-ADMINISTERED PENSION FUND PLANS - REVENUE ACCOUNT-2006NAME OF PLAN Fund at thebeginningof PeriodCONTRIBUTIONS BYEmployersEmployeesAdditionalContributionsbyEmployersto meetDeficiencyInterests,Dividendsand RentsOtherIncomeTotalRevenueSUPERANNUATION BENEFITSPensionstoRetiredEmployeesRetirementGratuitiesTotalDeathGrants1Agostini Insurance Brokers Limited PensionFund Plan$41,544,433$673,824$538,288$$1,593,631$9,099$44,359,275$1,185,661$134,752$1,320,413$2 Agostini Limited Retirement Plan60,876,892 758,262 761,8622,538,172 60,750 64,995,938 595,148 55,993 651,1413Airports Authority of Trinidad and TobagoPension Fund78,531,1873,440,2131,241,4984,176,64721,87887,411,423491,589228,773720,3624Alstons Limited Pension Fund Plan5Amoco Trinidad Oil Company PensionFund Plan479,325,11013,343,4588,439,07617,827,041399,762519,334,4479,692,1598,802,95918,495,1186 ANSA Mc Al Limited Pension Fund Plan 57,649,138 1,578,172 1,578,1722,743,72163,549,203 286,952 227,938 514,890 77,7917Associated Brands Limited Group PensionFund Plan43,984,507915,0421,220,0512,077,071160,13548,356,8061,405,3041,405,3048 Atlantic LNG Pension Plan28,036,867 4,688,293 4,150,190 2,810,000 1,466,027 6,276 41,157,6539Bank of Commerce Trinidad and TobagoLimited Retirement Plan213,562,08352,045.0052,0456,998,914220,665,087257,957257,95710 Bawodes Pension Fund Plan7,975,732 245,770 152,534568,683 91,829 9,034,54811Berger Paints Trinidad Limited PensionFund Plan (Monthly Paid Employees)28,009,9001,449,623(491,958)28,967,565429,383429,38346,80912British-American Insurance Company(Trinidad) Limited Pension Fund Plan19,902,601613,005613,0051,291,17222,419,783262,925262,92513 British Gas Trinidad Limited Pension Plan 19,675,063 3,218,984 2,483,150945,197 108,392 26,430,786 18,120 137,595 155,71514 BWIA General Staff Pension Fund Plan 212,230,905 8,283,840 4,080,75814,193,765 58,684 238,847,952 1,337,719 801,939 2,139,65815BWIA Pilots Pension Plan16Caribbean Industrial Research InstitutePension Fund Plan132,603,5359699695,998,33422,426138,626,2331,841,971816,6442,658,61517Central Bank of Trinidad and TobagoPension Fund Plan18Citibank (Trinidad and Tobago) LimitedPension Plan79,276,0944,502,944198,08083,977,118402,678419,425822,10319Coca Cola Bottling (Trinidad and Tobago)Limited Pension Fund Plan17,162,213753,505769,837692,0628,59619,386,213116,90238,967155,86952,76020Consolidated Insurance ConsultantsLimited Staff Pension Fund Plan102,709,2024,935,640121,070107,765,912321,940321,94021 Coopers and Lybrand Pension Fund Plan 14,270,249 11,042,494 14,088,411585,038 (770,326) 39,215,866 306,346 724,695 1,031,04122 Courts (Trinidad) Limited Pension Plan 18,590,464 1,246,683 1,318,671800,170 5,749 21,961,737 176,108 277,264 453,37223Cuna Caribbean Insurance Society PensionFund Plan30,319,782644,467327,6341,428,117358,94933,078,949215,14464,180279,32424Development Finance Limited PensionFund Plan37,554,49413,4431,931,267139,499,205302,905427,043729,94825EOG Resources Trinidad Limited PensionFund Plan9,488,003596,889424,477321,14754710,831,06354,30854,308Carried Forward1,733,278,454 52,095,915 42,254,071 2,810,000 79,064,383 369,939 1,909,872,762 19,701,219 13,158,167 32,859,386 177,360Return ofContributiononWithdrawal$144,748216,38471,830490,507726,36779,809185,04694,069149,228228,7331,407,487224,251361,521184,48310,0814,574,544OtherExpenditure$6,955,2722,229,7146,296,74219,227,8644,559,1032,979,8421,121,76024,603,53112,618182,4662,612,649704,9756,947,44418,075,7854,575,768994,12713,085,30048,175847,2094,888,2752,530,8001,294,136124,773,555TotalExpenditure$8,420,4333,097,2397,088,93438,213,4895,878,1514,464,9551,306,80624,861,488106,687658,6583,024,8021,089,42310,494,58920,734,4005,397,8711,427,00713,407,2401,079,2161,662,1025,352,0823,260,7481,358,525162,384,845Fundsat end ofPeriod$35,938,84261,898,69980,322,489481,120,95857,671,05243,891,85139,850,847195,803,5998,927,86128,308,90719,394,98125,341,363228,353,363117,891,83378,579,24717,959,20694,358,67238,136,65020,299,63527,726,86736,238,4579,472,5381,747,487,917---------------------------------------------------------------------210REPORT ON INSURANCE AND PENSIONS


TABLESTABLE XXXIII continuedSELF-ADMINISTERED PENSION FUND PLANS - REVENUE ACCOUNT-2006NAME OF PLAN Fund at thebeginningof PeriodCONTRIBUTIONS BYEmployersEmployeesAdditionalContributionsbyEmployersto meetDeficiencyInterests,Dividendsand RentsOtherIncomeTotalRevenueSUPERANNUATION BENEFITSPensionstoRetiredEmployeesRetirementGratuitiesTotalDeathGrants$$$$$$$$$$$Brought Forward1,733,278,454 52,095,915 42,254,071 2,810,000 79,064,383 369,939 1,909,872,762 19,701,219 13,158,167 32,859,386 177,36026 E & Y Services Limited Pension Scheme 35,846,519 405,262 405,2621,185,685 (4,667,688) 33,175,040 1,304,715 76,410 1,381,12527 Ferreira Optical Limited Pension Fund Plan 12,575,932 283,918 359,837643,021 114,621 13,977,329 723,674 230,547 954,22128 First Citizen Bank Pension Plan660,102,911 4,297,518 4,289,55031,997,387 (89,070,922) 611,616,444 4,064,875 2,217,695 6,282,570 61,35829Hand Arnold (Trinidad) Limited EmployeesPension Scheme66,895,941483,0323,005,806965,46071,350,2391,281,889523,0291,804,91830 H.S. Services Limited Pension Fund Plan 10,792,773 564,455 563,315553,393 111,914 12,585,85031Hydro Agri Trinidad Limited SalariedEmployees Pension Plan32I A L Engineering Sevices Limited PensionFund Plan65,772,5701,186,9383,093,09043,68670,096,284588,930701,5091,290,43933 I.B.M. Non Contributory Pension Fund Plan 48,585,4391,916,029 760,650 51,262,118 1,007,1801,007,18034Insurance Brokers (West Indies) LimitedPension Fund Plan7,429,0045,462502,3424,8337,941,64135Lever Brothers West Indies Limited PensionFund Plan36 Mandev-Qualassure Pension Fund Plan 70,192,303 782,101 217,2503,445,022 (11,293,918) 63,342,758 327,492 301,203 628,69537Mega Insurance Company Limited PensionPlan29,145,536183,881183,8811,533,39835,03031,081,726594,702279,496874,1983,74838Mittal Steel Point Lisas Limited Employees’Pension Fund Plan639,717,1634,375,4774,409,93426,349,832195,212675,047,6186,315,7653,873,71510,189,48039 National Gas Company Pension Fund Plan 248,958,706 11,617,457 4,149,0929,502,205 296,621 274,524,081 872,995 993,389 1,866,38440 National Insurance Board Pension Fund Plan 657,016,961 2,481,352 2,488,80128,728,655 1,347,086 692,062,855 8,519,297 2,216,750 10,736,047 101,23641National Insurance Property DevelopmentCompany Limited Pension Fund Plan47,795,796252,665252,7402,123,3355,23750,429,773102,240102,24042National Union of Government andFederated Workers Elected Officers PensionFund Plan3,182,226100,59830,95314,1694723,328,418173,063173,06343National Union of Government andFederated Workers Staff Pension Fund Plan24,744,164404,022202,0111,228,1776,85426,585,228611,885419,4621,031,34744 Neal and Massy Group Pension Plan 1,139,975,845 63,120 2,47751,914,339 13,475,309 1,205,431,090 17,422,953 5,567,472 22,990,425 393,86545Nestle Trinidad and Tobago Limited PensionFund Plan74,941,7613,658,0481,425,6182,129,955793,35182,948,7332,057,814475,8002,533,61446Nestle Trinidad and Tobago LimitedUnionised Employees’ Pension Plan21,390,3215,306,9221,299,8001,025,8446,59629,029,483184,470140,919325,38947 Niherst Pension Fund Plan23,932,538 631,277 363,3561,226,383 12,140 26,165,694 138,094138,094 3,324,78948PCS Nitrogen Trinidad Limited Pension FundPlan No I362,631,1181,314,4701,407,85317,345,509382,698,9502,831,341264,5243,095,86549PCS Nitrogen Trinidad Limited Pension FundPlan No II21,298,965301,065301,065981,7462,43322,885,274109,61522,285131,90050Phoenix Park Gas Processors Limited StaffPension Plan28,740,7831,056,6371,061,7981,296,5772,97732,158,7721,645,854548,6182,194,472Carried Forward6,034,943,729 90,176,160 67,344,096 2,810,000 270,806,282 (86,482,107) 6,379,598,160 70,580,062 32,010,990 102,591,052 4,062,356Return ofContributiononWithdrawal$4,574,54495,787120,63651,34573,28456,521128,82520,968177,18554,53572,38594,7701,764594,636287,70732,69563,416131,87419,31147,4886,699,676OtherExpenditure$124,773,555160,7951,513,8113,493,7229,782,5731,569,8394,868,43116,643192,712245,3301,839,98519,769,9488,116,09793,254,2927,701,306160,1972,780,509173,098,9074,041,3252,261,725177,41018,943,502931,7201,323,057481,017,391TotalExpenditure$162,384,8451,637,7072,588,6689,888,99511,660,7751,626,3606,287,6951,023,823192,712874,0252,738,89930,136,61310,037,016104,163,9607,898,316333,2603,813,620197,077,8336,862,6462,619,8093,703,70922,171,2411,082,9313,565,017594,370,475Fundsat end ofPeriod$1,747,487,91731,537,33311,388,661601,727,44959,689,46410,959,49063,808,58950,238,2957,748,92962,468,73328,342,827644,911,005264,487,065587,898,89542,531,4572,995,15822,771,6081,008,353,25776,086,08726,409,67422,461,985360,527,70921,802,34328,593,7555,785,227,685-----------------------------------------------------------REPORT ON INSURANCE AND PENSIONS 211


TABLESTABLE XXXIII continuedSELF-ADMINISTERED PENSION FUND PLANS - REVENUE ACCOUNT-2006NAME OF PLAN Fund at thebeginningof PeriodCONTRIBUTIONS BYEmployersEmployeesAdditionalContributionsbyEmployersto meetDeficiencyInterests,Dividendsand RentsOtherIncomeTotalRevenueSUPERANNUATION BENEFITSPensionstoRetiredEmployeesRetirementGratuitiesTotalDeathGrants$$$$$$$$$$$Brought Forward6,034,943,729 90,176,160 67,344,096 2,810,000 270,806,282 (86,482,107) 6,379,598,160 70,580,062 32,010,990 102,591,052 4,062,35651Point Lisas Industrial DevelopmentCorporation Pension Fund Plan50,195,5911,325,4191,336,1892,948,81017355,806,182312,034116,485428,51952Port Authority of Trinidad and Tobago(Daily / Weekly) Pension Plan53Port Authority of Trinidad and Tobago(Monthly Paid) Pension Plan54PriceWaterhouseCoopers Limited PensionPlan29,249,7911,299,22130,549,012228,572228,57255 RBTT Pension Plan124,428,912 24,621,2059,688,114 1,366,103 160,104,334 193,798 384,437 578,235 263,86856Republic Bank of Trinidad and TobagoLimited Pension Fund Plan2,388,609,32559,344,9063,230,4082,451,184,63919,376,3996,644,71926,021,11857RHA Pension Plan58Scotiabank Trinidad and Tobago LimitedPension Fund Plan433,693,93526,084,352(26,043,725)433,734,5624,611,7882,180,9936,792,78159 Servol Limited Pension Fund Plan18,849,146 709,497 709,497857,65021,125,790 298,902298,90260Telecommunications Services of Trinidadand Tobago Limited Pension Fund Plan1,284,505,60543,690,72314,878,53530,340,6261,368,2461,374,783,73528,434,37724,493,93052,928,307970,71961Texaco (Trinidad) Limited Staff RetirementPlan45,764,089149,480149,4801,524,75417,76947,605,5721,234,4151,234,41551,26162The Demerara Life Assurance Companyof Trinidad and Tobago Limited Sales StaffPension Fund Plan63The Guyana and Trinidad Mutual FireInsurance Company Pension Plan64The Home Mortgage Bank Pension FundPlan11,488,5721,825,725136,117400,288(354,567)13,496,1354,154,8144,154,81465The Mercantile Banking and FinanceCorporation Ltd. Pension Fund Plan2,743,88446,66646,666201,909(13,537)3,025,58866The West Indian Tobacco Company Ltd.Pension Fund Plan123,642,3121,388,3651,280,5535,778,15072,507132,161,8874,995,6453,070,5538,066,198188,52067Thomas Peake and Company LimitedPension Plan21,496,874326,714326,714836,5488,33822,995,188461,70953,620515,32968Trinidad Building and Loan AssociationPension Fund Plan69Trinidad Cement Limited EmployeesPension Fund Plan597,877,8105,290,5284,106,10223,464,178135,753630,874,3718,922,7256,791,84515,714,570138,86170Trinidad Hilton Limited Pension Fund Plan71Trinidad and Tobago Eletricity CommissionPension Fund Plan3,469,681,33541,546,50620,773,127110,046,413881,4013,642,928,78276,069,31876,069,3186,341,02472Trinidad and Tobago Electricity CommissionProvident Fund10,047,148629,81610,676,96473Trinidad and Tobago ExternalTelecommunications Company LimitedPension Fund282,648,34124,864,1528,305,589315,818,08239,57639,57674Trinidad and Tobago Methanol CompanyLimited Pension Fund Plan158,407,74163,50463,5047,864,7391,053,578167,453,0661,322,420334,1531,656,57375Trinidad and Tobago National PetroleumMarketing Company Limited ContributoryPension Plan I201,582,2941,679,6013,583,1448,294,102264,190215,403,3311,809,016911,4782,720,494151,855Carried Forward15,289,856,434 212,840,093 114,733,724 2,810,000 585,275,010 (96,189,881) 16,109,325,380 223,045,570 76,993,203 300,038,773 12,168,464Return ofContributiononWithdrawal$6,699,676169,75380,680190,7179,269,86550,652404,318600481,17122,44742,463623,14441,08218,076,568OtherExpenditure$481,017,3913,526,23520,995,6203,060,414230,347,2833,948,0012,448,81162,654,6931,373,5106668,1296,312,743622,79113,546,664225,288,613997,97179,245,8121,529,03218,588,6011,155,512,980TotalExpenditure$594,370,4754,124,50721,304,8723,902,517256,368,40110,740,7822,938,430125,823,5842,709,8384,559,7988,72915,048,6321,160,56729,442,558308,322,099997,97179,285,3883,185,60521,502,0321,485,796,785Fundsat end ofPeriod$5,785,227,68551,681,6759,244,140156,201,8172,194,816,238422,993,78018,187,3601,248,960,15144,895,7348,936,3373,016,859117,113,25521,834,621601,431,8133,334,606,6839,678,993236,532,694164,267,461193,901,29914,623,528,595-------------------------------------------------------------212REPORT ON INSURANCE AND PENSIONS


TABLESTABLE XXXIII continuedSELF-ADMINISTERED PENSION FUND PLANS - REVENUE ACCOUNT-2006NAME OF PLAN Fund at thebeginningof PeriodCONTRIBUTIONS BYEmployersEmployeesAdditionalContributionsbyEmployersto meetDeficiencyInterests,Dividendsand RentsOtherIncomeTotalRevenueSUPERANNUATION BENEFITSPensionstoRetiredEmployeesRetirementGratuitiesTotalDeathGrants$$$$$$$$$$$Brought Forward15,289,856,434 212,840,093 114,733,724 2,810,000 585,275,010 (96,189,881) 16,109,325,380 223,045,570 76,993,203 300,038,773 12,168,46476Trinidad and Tobago National PetroleumMarketing Company Limited ContributoryPension Plan II230,232,7182,621,6421,228,89610,530,6471,279,329245,893,2325,853,0881,261,5097,114,59777Trinidad and Tobago Oil Company LimitedContributory Pension Fund “A”78Trinidad and Tobago Oil Company LimitedContributory Pension Fund “B”921,830,4517,415,7283,729,63542,452,1073,577,131979,005,0527,284,938473,2407,758,1781,173,87179Trinidad and Tobago Oil Company LimitedNon-Contributory Pension Fund80Trinidad and Tobago Oil Company LimitedEmployeess’ Benefit Plan81Trinidad and Tobago Oil Company LimitedStaff Retirement Plan82Trinidad and Tobago Petroleum CompanyLimited Employees Pension Fund Plan83Trinidad and Tobago Petroleum CompanyLimited Staff Pension Fund Plan1,187,945,62610,097,6155,138,11455,889,87011,486,9071,270,558,13225,413,5072,708,12428,121,631429,15784Trinidad and Tobago Port ContractorsLimited Employees Pension Fund Plan85Trinidad and Tobago Telephone CompanyLimited Staff Pension Fund Plan1,575,198,1435,532,6775,277,01293,178,30237,084,7771,716,270,91122,290,47358,533,27680,823,749737,14586Trinidad and Tobago Unit Trust CorporationPension Fund Plan61,972,5904,709,4061,681,93121,67589,30068,474,902369,223841,7941,211,0172,525,38187 Trinmar Limited Employees Benefit Plan 443,634,580 10,087,813 5,884,55425,310,246 19,000 484,936,193 1,427,315 7,547,127 8,974,442 164,58988Trintoplan Consultant Limited Staff PensionPlan89T. Geddes Grant (Trinidad) Staff Savings andPension Fund Plan90T. Geddes Grant Limited Pension Fund Plan91Water and Sewerage Authority PensionFund Plan520,306,4684,635,7112,867,21021,868,368(74,571,387)475,106,37018,637,652504,75919,142,4111,271,70592Y De Lima & Company Limited StaffPension Fund Plan11,672,604652,32812,324,932456,105456,105GRAND TOTAL20,242,649,614 257,940,685 140,541,076 2,810,000 835,178,553 (117,224,824) 21,361,895,104 304,777,871 148,863,032 453,640,903 18,470,312Return ofContributiononWithdrawal$18,076,568243,45753,7013,670,242349,692162,08731,40122,587,148OtherExpenditure$1,155,512,98023,536,576127,152,621141,139,587215,971,2293,198,75360,253,525(20,895)673,8911,727,418,267TotalExpenditure$1,485,796,78530,894,630136,138,371169,690,375301,202,3657,284,84369,554,64320,424,6221,129,9962,222,116,630Fundsat end ofPeriod$14,623,528,595214,998,602842,866,6811,100,867,7571,415,068,54661,190,059415,381,550454,681,74811,194,93619,139,778,474----------------REPORT ON INSURANCE AND PENSIONS 213


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