2006 - Central Bank of Trinidad and Tobago
2006 - Central Bank of Trinidad and Tobago
2006 - Central Bank of Trinidad and Tobago
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TABLESTABLE XVIREVENUE ACCOUNT IN RESPECT OF PROPERTY INSURANCE - <strong>2006</strong>COMPANIESREVENUE EXPENDITURE1LOCALAmerican Life <strong>and</strong> General Insurance Company (T&T)Ltd.FUND AT THE BEGINNINGOF YEARUnearnedPremiumReservePremiumsNET Interest Other Transferfrom Pr<strong>of</strong>it & LossAccounttOTAL$ $ $ $ $ $ $ $$$$$$ $4,781,143Outst<strong>and</strong>ingClaimsReserve3,581,52211,547,021CommissionsReceived9,849,313(295,340)29,463,659Payment<strong>of</strong> ClaimsIncludungLegal <strong>and</strong>MedicalExpenses2,393,277Commissions Other Transfer to5,889,563Expenses<strong>of</strong>Management7,251,8521,264,085Pr<strong>of</strong>it & LossAccount4,365,597FUND AT END OF YEARReserve forUnearnedPremium6,010,868Reserve forOutst<strong>and</strong>ingClaims2,288,417tOTAL$ $29,463,6592 <strong>Bank</strong>ers 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. <strong>Trinidad</strong> 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 <strong>of</strong> 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 <strong>Trinidad</strong> & <strong>Tobago</strong> 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
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