PART I INSURANCE COMPANIES

Transcription

1 ISSN

2

3 TABLE OF CONTENTS 1. REPORT OF THE CENTRAL BANK OF TRINIDAD AND TOBAGO FOR THE YEAR ENDED DECEMBER 31, OVERVIEW OF THE INSURANCE INDUSTRY FIGURES. Gross Premium Distribution 2. Policies in Force Long Term Insurance Business 3. New Policies written Long Term Insurance Business 4. Total Statutory Fund Investment Securities PART I INSURANCE COMPANIES 3. LONG TERM BUSINESS Existing Business New Business Written Policies Discontinued or Redeemed Policy Loans Statutory Funds Local Asset Ratio Revenue Account Distribution of Premium Income Reinsurance Valuation Reports FIGURES 5. Long Term Insurance Business New Business Written 6. Long Term Insurance Business Policies Discontinued/Redeemed 7. Long Term Insurance Business Premium Income Distribution 8. Long Term Insurance Business Net Premium Income Paragraph Reference 4. GENERAL INSURANCE BUSINESS Existing Business Statutory Deposits General Insurance Motor Statutory Funds Change in Premium Income Motor Underwriting Results Reinsurance General Insurance Other Than Longterm or Motor Existing Business Change in Premium Income Underwriting Results Reinsurance General Insurance Other Than Longterm or Motor REPORT ON INSURANCE AND PENSIONS

4 TABLE OF CONTENTS Paragraph Reference FIGURES Existing Business Change in Premium Income Underwriting Results Reinsurance General Insurance Solvency Test 9. Motor Insurance Business Net Premium Income 10. Other Insurance Business Net Premium Income 5. ASSOCIATION OF UNDERWRITERS Registration Intermediaries Volume of Business PART II INSURANCE INTERMEDIARIES 6. INSURANCE INTERMEDIARIES Registration Examinations Revenue PART III PENSION FUND PLANS 7. PENSION FUND PLANS Registration Amendments Revenue Annual Accounts Balance Sheets Results and Recommendations of Actuarial Valuations FIGURES. Pension Fund Plans Contributions 2. Pension Fund Plans Assets of Self Administered Plans 2 REPORT ON INSURANCE AND PENSIONS

5 TABLE OF CONTENTS APPENDICES APPENDIX A Summary of Balance Sheets of Insurance Companies. APPENDIX B APPENDIX C APPENDIX D APPENDIX E List of Agents Registered under the Insurance Act, Chap. 84:01 as at December 31, 2006 and their Anniversary Dates. List of Brokers Registered under the Insurance Act, Chap. 84:01 as at December 31, 2006 and their Anniversary Dates. List of Adjusters Registered under the Insurance Act, Chap. 84:01 as at December 31, 2006 and their Anniversary Dates. List of Pension Plans Registered as at December 31, LIST OF TABLES TABLE I Revenue Account in respect of Longterm Insurance. TABLE II Revenue Account in respect of Ordinary Life, Pension and Annuity Insurance. TABLE III Revenue Account in respect of Industrial Life Insurance. TABLE IV Revenue Account in respect of NonCancellable, Sickness and Accident Insurance. TABLE V Revenue Account in respect of Group Life Insurance. TABLE VI Revenue Account in respect of Group Pension Insurance. TABLE VII Revenue Account in respect of Deposit Administration Contracts/Unit Linked Funds. TABLE VIII Longterm Insurance Business Insurance Discontinued or Redeemed during 2006 TABLE IX Insurance in Force. TABLE X Long Term Insurance Annuity Business. TABLE XI Statement of Statutory Fund 2006 Liabilities to Policyholders (Longterm Business). TABLE XIA Statement of Statutory Fund 2006 Securities held in Trust (Longterm Business). TABLE XII Revenue Account in respect of Motor Insurance TABLE XIII Statement of Statutory Fund Liability of Policyholders and Assets held in Trust Motor Insurance. TABLE XIV Underwriting results in respect of Motor Business. TABLE XV Revenue Account in respect of Other than Longterm or Motor. REPORT ON INSURANCE AND PENSIONS 3

6 TABLE OF CONTENTS TABLE XVI TABLE XVII TABLE XVIII TABLE XIX TABLE XIXA TABLE XX TABLE XXI TABLE XXII TABLE XXIII TABLE XXIV TABLE XXV TABLE XXVI TABLE XXVII LIST OF TABLES Revenue 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 Insurance Company (Trinidad and Tobago) in respect of Long Term Insurance Business as at December 31, Summary and Valuation of the Policies of Beacon Insurance Company as at June 30, Summary and Valuation of the Policies of Colonial Life Insurance Company as at December 31, Summary and Valuation of the Policies of CUNA Caribbean Insurance Society as at December 31, Summary and Valuation of the Policies of Guardian Life of the Caribbean as at December 31, Summary and Valuation of the Policies of Nationwide Insurance Company as at December 31, TABLE XXVIII Summary and Valuation of the Policies of Sagicor Life Incorporated as at December 31, TABLE XXIX Summary and Valuation of the Policies of as at Scotia Life of Trinidad and Tobago October 31, TABLE XXX Annuity Pension Fund Plans Revenue Account TABLE XXXI Deposit Administration Pension Fund Plans Revenue Account TABLE XXXII Self Administered Balance Sheet TABLE XXXIII Self Administered Pension Fund Plans Revenue Accounts REPORT ON INSURANCE AND PENSIONS

7 REPORT ON INSURANCE AND PENSIONS FOR THE YEAR ENDED 31ST DECEMBER, 2006 Honourable Minister of Finance Ministry of Finance Eric Williams Finance Building Eric Williams Plaza Independence Square PORT OF SPAIN Dear Madam 1.01 I have the honour to submit to you for presentation to Parliament the Thirtyninth Annual Report on the administration of the Insurance Act being presented by the Central Bank of Trinidad and Tobago This Report is submitted under the Insurance Act, Chap 84:01 and is for the period ended 31st December, The Act requires that Returns on the financial performance of companies be submitted within six (6) months of the financial year of each company This report is prepared in three parts Part I PART II PART III INSURANCE COMPANIES A LONGTERM INSURANCE B GENERAL INSURANCE INSURANCE INTERMEDIARIES PENSION FUND PLANS 1.05 A summary of the Balance Sheets of insurance companies is also provided at Appendix A. Respectfully submitted Ewart Williams Governor CENTRAL BANK OF TRINIDAD AND TOBAGO REPORT ON INSURANCE AND PENSIONS 5

8 OVERVIEW OF THE INSURANCE INDUSTRY 2. OVERVIEW OF THE INSURANCE INDUSTRY 2.01 In 2006, Gross Premium Income in the industry totaled 6,584.9 million which represents 5.8% of the Gross Domestic Product at current prices ( %). This is an increase of 13.2% over the gross premiums of 5,818.7 million reported for Gross Premiums Income for the year increased in respect of all classes of business. Details are as follows: Gross Premium Income 2006 M 2005 M %Inc/(Dec) Long Term (Life) 4, , Motor Vehicle Property (Fire and Allied Perils) Other , , (See Figure 1) Longterm Business 2.03 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% over the previous year. (See Figure 3) Policy lapses increased by 37.0% in 2006 compared to a 40.5% decrease during Surrenders decreased by 38.5% in 2006 compared to a 5.0% decrease during Statutory Funds in which investments are pledged to support policyholder liabilities totaled 17.2 billion ( billion). (See Figure 4) 6 REPORT ON INSURANCE AND PENSIONS

9 OVERVIEW OF THE INSURANCE INDUSTRY General Insurance Business 2.04 Gross Premiums increased in respect of Motor Business, Property and the group of classes classified as Other than Motor, Property and Longterm Business. Net Premiums increased in respect of Motor Business, and the group of classes classified as Other than Motor, Property and Longterm Business and decreased in respect of Property Business. Insurance Intermediaries 2.05 The number of intermediaries registered at the end of 2006 was 2,400 (2005 2,140). The information is summarized as follows: %Inc/(Dec) Salesmen 1,824 1, Agents Brokers Adjusters (4.2) 2,400 2, Pension Fund Plans 2.06 The number of pension fund plans registered at the end of 2006 was 256 ( ). The information is summarized as follows: %Inc/(Dec) Self Administered Pension Fund Plans Insured Pension Fund Plans (3.7) Pension Fund Plans To be Woundup Judicial Management REPORT ON INSURANCE AND PENSIONS 7

10 OVERVIEW OF THE INSURANCE INDUSTRY FIGURE 1 GROSS PREMIUM DISTRIBUTION OTHER 11% OTHER 11% PROPERTY 9% PROPERTY 10% MOTOR 10% MOTOR 11% LONG TERM 70% LONG TERM 68% M M LONG TERM 4, ,097.2 MOTOR PROPERTY OTHER , , REPORT ON INSURANCE AND PENSIONS

11 OVERVIEW OF THE INSURANCE INDUSTRY FIGURE 2 POLICIES IN FORCE LongTerm Insurance Business Year No. of policies (thousands) REPORT ON INSURANCE AND PENSIONS 9

12 OVERVIEW OF THE INSURANCE INDUSTRY FIGURE 3 NEW POLICIES WRITTEN LongTerm Insurance Business YEAR 2002 No. of policies (thousands) REPORT ON INSURANCE AND PENSIONS

13 OVERVIEW OF THE INSURANCE INDUSTRY FIGURE 4 LONGTERM STATUTORY Fund Investment Securities GOV SEC 10% GOV SEC 8% MORTGAGES 5% MORTGAGES 4% REAL ESTATE 5% REAL ESTATE 7% EQUITIES 38% EQUITIES 40% OTHER 43% OTHER 40% M M T&T GOV T SEC 1,335 1,643 MORTGAGES REAL ESTATE 1, T&T EQUITIES 6,967 6,582 OTHER 6,845 7,404 17,177 17,213 REPORT ON INSURANCE AND PENSIONS 11

14 PART I INSURANCE COMPANIES 3. LONGTERM INSURANCE BUSINESS 3.01 There were twentyfour (24) companies registered to transact longterm business in Trinidad and Tobago at the end of Ten (10) companies are not writing new business as at December The types of new business transacted by registered companies were as follows: Companies Ordinary Life Industrial Life Group Life Group Pension Pension and Annuity LOCAL 1. American Life and General Insurance Company (Trinidad and Tobago) 2. Bancassurance Caribbean # 3. BritishAmerican Insurance Company (Trinidad) 4. Caribbean Atlantic Life Insurance Company (Trinidad and Tobago) + NOT WRITING NEW BUSINESS 5. Caribbean Insurance Company NOT WRITING NEW BUSINESS 6. Colonial Life Insurance Company (Trinidad) 7. Cuna Caribbean Insurance Society 8. Guardian General Insurance Φ 9. Guardian Life of the Caribbean 10. Maritime Life (Caribbean) 11. Mega Insurance Company ~ 12 REPORT ON INSURANCE AND PENSIONS

15 LONGTERM INSURANCE BUSINESS Companies Ordinary Life Industrial Life Group Life Group Pension Pension and Annuity LOCAL 12. Nationwide Insurance Company Trinidad NOT WRITING NEW BUSINESS 13. Scotia Life Trinidad and Tobago 14. Tatil Life Assurance Company 15. The Beacon Insurance Company 16. The Demerara Life Assurance Company of Trinidad and Tobago NOT WRITING NEW BUSINESS 17. The Reinsurance Company of Trinidad & Tobago 18. The Western General Insurance Company NOT WRITING NEW BUSINESS 19. United Security Life Insurance Company NOT WRITING NEW BUSINESS REGIONAL 20. Life of Barbados NOT WRITING NEW BUSINESS 21. Sagicor Life Incorporated OTHER 22. Lincoln Assurance NOT WRITING NEW BUSINESS 23. Cuna Mutual Insurance Society NOT WRITING NEW BUSINESS 24. Sun Life Assurance of Canada NOT WRITING NEW BUSINESS + Operating as a closed fund under Guardian Life of the Caribbean. Formerly Cannon Assurance Business transferred to Sagicor Life Inc. # Formerly Crown Life (Caribbean). ~ Formerly GTM Life Insurance Company of Trinidad and Tobago Φ Formerly Caribbean Home Insurance Company Denotes business written Denotes business not written REPORT ON INSURANCE AND PENSIONS 13

16 INSURANCE COMPANIES New Business Written 3.03 Eleven (11) companies which wrote new business (ten (10) in 2005) submitted the required information under this caption. Details are as follows: Number of Policies Sum Assured Annual Premiums 66,658 9,421,167, ,997,166 63,168 6,674,368, ,509,366 New Business underwritten during the years 2002 to 2006 was distributed as follows: Percentage of New Insurance Issued (Sum Assured) Local Companies Regional Other (See Figure 5) Existing Business 3.04 Sixteen (16) Life Companies registered under the Act submitted Returns in respect of insurance existing. The information is summarized as follows: Number of Policies Sum Assured 538,950 58,376,775, ,750 51,562,322, REPORT ON INSURANCE AND PENSIONS

17 LONGTERM INSURANCE BUSINESS Policies Discontinued or Redeemed 3.05 Sixteen (16) companies submitted information concerning the discontinuance and redemption of policies. The information for the years 2002 to 2006 is summarized hereunder. YEAR (See Figure 6) Number of Policies 37,441 39,978 47,395 43,350 35,666 Sum Assured 4,875,819,307 4,530,038,189 6,627,563,841 4,602,636,795 3,370,487,646 REPORT ON INSURANCE AND PENSIONS 15

18 INSURANCE COMPANIES FIGURE 5 LongTerm Insurance Business NEW BUSINESS WRITTEN 100% 80% 60% 40% 20% 0% YEAR Other Regional Local Companies 16 REPORT ON INSURANCE AND PENSIONS

19 LONGTERM INSURANCE BUSINESS FIGURE 6 LongTerm Insurance Business Policies discontinued/redeemed Thousands YEAR YEAR 2002 No. of policies (thousands) REPORT ON INSURANCE AND PENSIONS 17

20 INSURANCE COMPANIES 3.06 Policies discontinued or redeemed during 2006 have been further classified as follows: Death Surrender Forfeiture Lapse Maturity Miscellaneous Number of Policies 1,452 9,908 8,394 11,320 3,230 3,137 37,441 Sum Assured 59,651, ,401, ,088,408 1,875,827,978 39,420,213 1,325,429,357 4,875,819,307 Details are listed in Table VIII Policy Loans 3.07 Policy loans in respect of twelve (12) companies for the year 2006 totaled 310,228,837 a decrease of 8.8% over the 2005 figure of 340,100,962. The ratio of policy loans to total reserves decreased from 1.9% in 2005 to 1.7% in Policy Loans Reserves Policy Loan / Reserves % Local Companies 287,731,863 16,918,861, Regional Companies 22,496,974 1,840,183, Other N/A N/A ,228,837 18,759,044, REPORT ON INSURANCE AND PENSIONS

21 LONGTERM INSURANCE BUSINESS Statutory Funds 3.08 Section 37(4) of the Insurance Act, Chap. 84:01 requires that: Every company carrying on longterm insurance business in Trinidad and Tobago shall place in trust in Trinidad and Tobago assets equal to its liability and contingency reserves with respect to its Trinidad and Tobago policyholders as established by the balance sheet of the Company as at the end of its last financial year The total policy liabilities of the sixteen (16) companies which submitted Returns amounted to 18,254,016,230 an increase of 14.6% over the liabilities of 15,928,218,216 reported by twenty (20) companies for Details of the policy liabilities of individual companies are shown in Table XI. Hereunder is a summary of total policy liabilities: Local Companies regional Companies Other Policy Reserves 16,413,832,783 1,840,183,447 18,254,016,230 Outstanding Claims 151,877, ,877,063 Other Reserves 353,151, ,151,684 RESERVES 16,918,861,530 1,840,183,447 18,759,044,977 Less: Policy Loans 287,731,863 22,496, ,228,837 Outstanding Premiums 49,043,107 2,649,245 51,692,352 Other Deductions 869,270, ,270,030 DEDUCTIONS 1,206,045,000 25,146,219 1,231,191,219 Statutory Fund Requirement 15,712,816,530 1,815,037,228 17,527,853,758 REPORT ON INSURANCE AND PENSIONS 19

22 INSURANCE COMPANIES 3.10 Assets placed in trust to cover liabilities to Trinidad and Tobago policyholders amounted to 17.2 billion this remained unchanged from the 2005 figure The relationship between policy liabilities and the assets placed in trust to meet these liabilities is shown in Table XIA in respect of each company which transacted longterm business 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 each statutory fund shall be deemed to be assets in Trinidad and Tobago where such assets (a) (b) are approved by the Central Bank; and originate in any of the member states of the Caribbean Community 20 REPORT ON INSURANCE AND PENSIONS

23 LONGTERM INSURANCE BUSINESS Investments trusted in pursuance of the Statutory Fund Requirement of the Act are detailed hereunder: % % (i) Trinidad and Tobago Government Securities denoted in T&T 1,335,363, (ii) Mortgages 794,751, (iii) Real Estate 1,235,139, (iv) Trinidad and Tobago Equities 6,966,925, (v) Cash on Deposit 1,788,782, (vi) Other Trinidad and Tobago Local Assets 14,019,384, TRINIDAD AND TOBAGO LOCAL ASSETS 14,019,384, (vii) Caricom Assets 1,081,113, (viii) Other Caricom Assets denoted in Foreign Currency 3,832, LOCAL ASSETS 15,104,330, (ix) Foreign Government Securities 171,268, (x) Other Foreign Assets 1,901,521, FOREIGN ASSETS 2,072,789, ASSETS 17,177,119, (See Figure 4) REPORT ON INSURANCE AND PENSIONS 21

24 INSURANCE COMPANIES Local Assets Ratio 3.13 Section 47(1) of the Insurance Act, Chap 84:01 requires every company to invest in Trinidad and Tobago an amount equal to at least eighty percent (80%) of its Trinidad and Tobago dollar liability in the Statutory Fund. Section 47(2) further provides that as sets not exceeding ten percent (10%) of the Trinidad and Tobago dollar liability in each Statutory Fund are deemed to be assets in Trinidad and Tobago if such assets: (a) (b) are approved by the Central Bank; and originate in any of the member states of the Caribbean Community Total Local investment in Statutory Funds for the year 2006 was 15,104,330,765 representing 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: Local Companies REGIONAL Companies Other (i) T&T Government Securities 1,078,688, ,675,225 1,335,363,554 (ii) Mortgages 394,679, ,071, ,751,762 (iii) Real Estate 1,052,717, ,422,614 1,235,139,731 (iv) T&T Equities 6,714,696, ,228,963 6,966,925,682 (v) Cash on Deposit 1,613,553, ,929,129 1,788,482,287 (vi) Other Trinidad and Tobago Local Assets 1,256,481, ,239,942 1,898,721,565 TRINIDAD AND TOBAGO LOCAL ASSETS 12,110,816,880 1,908,567,700 14,019,384,580 (vii) Caricom Assets 1,081,113,794 1,081,113,794 (viii) Other Caricom Assets denoted in Foreign Currency 3,832,390 3,832,390 LOCAL ASSETS 13,195,763,065 1,908,567,700 15,104,330, REPORT ON INSURANCE AND PENSIONS

25 LONGTERM INSURANCE BUSINESS Revenue Account 3.15 Detailed Revenue Accounts in respect of eighteen (18) companies transacting longterm business are shown in Tables IVII. A summary of the Revenue Accounts for the years 2006 and 2005 listed hereunder: Revenue Fund at beginning of year Net Premiums Commissions Received Interest, Dividends, etc. Other Transfer from Reserves 15,823,827,958 4,366,656,721 6,535, ,072, ,151,360 15,150,630,244 3,993,004, , ,391, ,498,347 REVENUE 21,780,244,155 20,896,396,494 Expenditure Policy Payments Commissions Salaries and other Management Expenses Other Fund at end of year Transfer to Profit and Loss 3,194,823, ,343, ,219,956 (3,440,481) 17,638,142,020 47,155,783 3,989,716, ,808, ,475,646 (34,303,275) 15,923,179, ,286,879 EXPENDITURE 21,780,244,155 20,902,163,004 Distribution of Premium Income 3.16 Business was distributed among locally incorporated, Caribbean and other companies as follows: Percentage of LongTerm Insurance Business (Net Premium Income) Local Companies Regional Companies Other (See Figure 7) REPORT ON INSURANCE AND PENSIONS 23

26 INSURANCE COMPANIES 3.17 Net Premium Income in respect of each company carrying on longterm business for the years 2002 to 2006 was as follows: SCHEDULE SHOWING CHANGE IN NET PREMIUM INCOME LONGTERM BUSINESS Companies 2002 (000) 2003 (000) 2004 (000) 2005 (000) 2006 (000) LOCAL American Life and General Insurance Company (Trinidad and Tobago) 78,280 89,352 97, , ,413 Bancassurance Caribbean 7,160 6,621 5,803 7,801 6,858 British American Insurance Company (Trinidad) NR 82, , , ,480 Caribbean Atlantic Life Insurance Company (Trinidad and Tobago) Caribbean Insurance Company NIL NIL NIL NIL NIL Colonial Life Insurance Company (Trinidad) 1,630,631 2,990,769 3,362,862 3,049,652 3,291,271 Cuna Caribbean Insurance Society 26,158 34,598 40,726 49,096 59,130 Guardian General Insurance 5,664 2,151 (7) Guardian Life of the Caribbean 297, , , , ,604 Maritime Life (Caribbean) 79,163 81,931 71,391 71,791 80,895 Mega Insurance Company NR 26,903 28,373 27,099 26,519 Nationwide Insurance Company Trinidad 4,571 4,420 2,461 2,415 2,888 Scotia Life of T&T 35,452 56,234 48,727 Tatil Life Assurance 65,149 67,269 72,135 66,753 65,133 The Beacon Insurance Company The Demerara Life Assurance Company of Trinidad and Tobago NR NR NR 1,561 NR 24 REPORT ON INSURANCE AND PENSIONS

27 LONGTERM INSURANCE BUSINESS SCHEDULE SHOWING CHANGE IN NET PREMIUM INCOME LONGTERM BUSINESS (continued) Companies 2002 (000) 2003 (000) 2004 (000) 2005 (000) 2006 (000) LOCAL The Goodwill General Insurance Company NR NR NR NR NR The Reinsurance Company of Trinidad and Tobago The Western General Insurance Company NIL NIL NIL NIL NIL United Security Life Insurance Company NR ,194,552 3,901,723 4,389,435 3,752,309 4,115,561 REGIONAL Life of Barbados 25,130 19,968 17,000 Sagicor Life Inc. 139, , , , , , , , , ,060 OTHER Lincoln Assurance Cuna Mutual Insurance Society Sun Life Assurance Company of Canada GRAND 2,359,623 4,080,846 4,589,519 3,993,005 4,366,657 (See Figure 8) NR Returns Not Received REPORT ON INSURANCE AND PENSIONS 25

28 INSURANCE COMPANIES FIGURE 7 LongTerm Insurance Business premium INCOME DISTRIBUTION 100.0% 80.0% 60.0% 40.0% 20.0% 0.0% REPORT ON INSURANCE AND PENSIONS

29 LONGTERM INSURANCE BUSINESS FIGURE 8 LongTerm Insurance Business net premium INCOME 4,600 4,400 4,200 4,000 3,800 3,600 3,400 3,200 3,000 2,800 2,600 2,400 2,200 2,000 1,800 1, YEAR Net Premium Income (M) , , , , ,367 REPORT ON INSURANCE AND PENSIONS 27

30 INSURANCE COMPANIES Reinsurance 3.18 Ninetyeight percent (98%) of life insurance premiums written during 2006 by sixteen (16) local companies was retained in the local economy ( %); eightynine percent (89%) was retained by Regional Companies. REINSURANCE LONG TERM INSURANCE BUSINESS 2006 COMPANIES GROSS PREMIUMS NET PREMIUMS NET RETENTION RATIO LOCAL American Life and General Insurance Company (Trinidad and Tobago) 147,879, ,413,270 % Bancassurance Caribbean 8,012,820 6,857, British American Insurance Company (Trinidad) 241,176, ,479, Caribbean Atlantic Life Insurance Company 233, , Colonial Life Insurance Company (Trinidad) 3,301,954,924 3,291,270, Cuna Caribbean Insurance Society 61,257,390 59,130, Guardian Life of the Caribbean 179,568, ,603, Maritime Life (Caribbean) 84,816,164 80,895, Mega Insurance Company 29,176,169 26,518, Nationwide Insurance Company 3,128,203 2,888, Scotia Life of T&T 53,473,967 48,727, Tatil Life Assurance 73,683,249 65,133, The Beacon Insurance Company 247, , The Demerara Life Assurance Company of Trinidad and Tobago NR NR NR The Reinsurance Company of Trinidad & Tobago 105, , United Security Life Insurance Company 207, , ,184,921,374 4,115,567, REPORT ON INSURANCE AND PENSIONS

31 LONGTERM INSURANCE BUSINESS REINSURANCE LONG TERM INSURANCE BUSINESS 2006 (continued) COMPANIES GROSS PREMIUMS NET PREMIUMS NET RETENTION RATIO REGIONAL % Sagicor Life Incorporated 282,634, ,059, ,634, ,059, OTHER Sun Life Assurance Company of Canada 36,391 36, ,391 36, GRAND 4,467,592,242 4,366,663, Valuation Reports 3.19 Section 113 of the Insurance Act, Chap. 84:01, requires that each company transacting longterm 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) Beacon Insurance Company Colonial Life Insurance Company CUNA Caribbean Insurance Society Guardian Life of the Caribbean Nationwide Insurance Sagicor Life Incorporated ScotiaLife Trinidad and Tobago Details are contained in Tables XXII to XXIX REPORT ON INSURANCE AND PENSIONS 29

32 GENERAL INSURANCE BUSINESS 4.01 There were thirtyfive (35) companies registered to transact general insurance business in Trinidad and Tobago at the end of Twentysix (26) wrote new business during The types of new business transacted by registered companies were as follows: Companies Liability Motor Property Personal Accident LOCAL Other 1 1. American Life and General Insurance (Trinidad and Tobago) 2. Antilles Insurance IN LIQUIDATION 3. Bankers Insurance Company of Trinidad and Tobago 4. British American Insurance Company (Trinidad) 5. Capital Insurance 6. Caribbean Insurance Company NOT WRITING NEW BUSINESS 7. Citizen Insurance Company UNDER INTERVENTION 8. Colonial Fire and General Insurance Company 9. ExportImport Bank of Trinidad and Tobago 10. Furness Anchorage Insurance 11. G.T.M. Insurance Company 12. Guardian General Insurance 13. Guardian Life of the Caribbean 14. Gulf Insurance 15. Maritime General Insurance Company 16. Mega Insurance Company 17. Motor and General Insurance Company 30 REPORT ON INSURANCE AND PENSIONS

33 GENERAL INSURANCE BUSINESS Companies Liability Motor Property Personal Accident LOCAL Other Motor One Insurance Company 19. Nationwide Insurance (Casualty and General) Company UNDER JUDICIAL MANAGEMENT 20. N.E.M. (West Indies) Insurance 21. Royal Caribbean Insurance 22. The Beacon Insurance Company 23. The Equitable Insurance Company IN LIQUIDA TION 24. The Goodwill General Insurance Company UNDER JUDICIAL MANAGEMENT 25. The Great Northern Insurance Company 26. The Mountain General Insurance Company NOT WRITING NEW BUSINESS 27. The New India Assurance Company (Trinidad & Tobago) 28. The Presidential Insurance Company 29. The Reinsurance Company of Trinidad and Tobago 30. The Western General Insurance Company NOT WRITING NEW BUSINESS 31. Trinidad and Tobago Insurance 32. United Security General Insurance Company IN LIQUIDA TION REGIONAL 1. Sagicor Life Incorporated 2. Sagicor General Insurance 3. United Insurance Company Denotes business written Denotes business not written 1 Other includes Group Health, Marine, Pecuniary Loss, General Accident and Export Credit. REPORT ON INSURANCE AND PENSIONS 31

34 INSURANCE COMPANIES Statutory Deposits 4.03 Section 29 of the Insurance Act Chap. 84:01 requires that companies transacting general insurance business maintain a deposit of not less than forty percent (40%) of their premium income less payments for reinsurance Additionally, there were five (5) life insurance companies incorporated outside Trinidad and Tobago which were required by the Act to maintain a minimum deposit of 250,000 each. Lloyd s Underwriters is also required to maintain a deposit At the end of 2006, total deposits of 496,544,232 were invested in the following securities and held on behalf of the Central Bank of Trinidad and Tobago Trinidad and Tobago Government Securities denoted in Trinidad and Tobago Dollars 239,094, ,454,212 Other T&T Government Securities 128,477, ,294,567 2 Other Securities 128,972, ,461, ,544, ,209,913 2 Other Securities includes Trinidad and Tobago Home Mortgage Bank Bonds, US Government Securities and other Commonwealth Government Securities. 32 REPORT ON INSURANCE AND PENSIONS

35 GENERAL INSURANCE BUSINESS DEPOSITS RETAINED IN RESPECT OF INSURANCE COMPANIES AS AT 31ST DECEMBER 2006 Companies LOCAL Trinidad and Tobago Government Securities in TT Other Trinidad and Tobago Government Securities Other Securities American Life and General Insurance Company Trinidad and Tobago 5,600,920 19,370,075 5,802,394 30,773,389 Bankers Insurance Company of Trinidad and Tobago 3,000,000 3,762,497 6,762,497 British American Insurance Company (Trinidad) 400, , ,000 Capital Insurance 2,642,608 11,433,325 14,075,933 Caribbean Insurance Company 350, ,000 Citizen Insurance Company 569,642 3,990,813 4,560,456 Colonial Fire & General Insurance Company 22,003,409 46,400,008 68,403,417 Cuna Caribbean Insurance Society 196, ,260 Furness Anchorage General Insurance 1,810, ,588 2,125,580 GTM Insurance Company 3,000, ,000 6,026,630 9,626,630 Guardian General Insurance 69,498,083 69,498,083 Guardian Life of the Caribbean 88,854,631 88,854,631 Gulf Insurance 4,300,000 1,237,996 5,537,996 Maritime General Insurance Company 18,869,373 11,003,493 29,872,866 Motor and General Insurance Company 1,039,571 3,281,085 5,983 4,326,639 REPORT ON INSURANCE AND PENSIONS 33

36 INSURANCE COMPANIES DEPOSITS RETAINED IN RESPECT OF INSURANCE COMPANIES AS AT 31ST DECEMBER 2006 (continued) Companies LOCAL Motor One Insurance Company Trinidad Other Other and Tobago Trinidad Securities Government and Tobago Securities Government in T.T. Securities 573,996 2,434,000 5,211,154 8,219,150 N.E.M. (West Indies) Insurance 622, ,600 Royal Caribbean Insurance 375, ,157 Sagicor General Insurance Incorporated 346,741 12,550,597 8,319,833 21,217,171 The Beacon Insurance Company 14,231,110 3,927,981 18,159,091 The Great Northern Insurance Company 350, ,000 1,387,758 2,487,821 The New India Assurance Company (T&T) 5,028,580 1,636,830 6,665,410 The Presidential Insurance Company 437,008 5,828,226 6,265,234 The Reinsurance Company of Trinidad & Tobago 1,346,100 3,262,945 4,609,045 Trinidad and Tobago Insurance 250,000 51,745,243 51,995, ,019,474 99,866, ,615, ,480,298 CARIBBEAN Sagicor Life Incorporated 8,034,500 28,610,456 36,644,956 United Insurance Company 3,378,270 3,378,270 8,034,500 28,610,456 3,378,270 40,023, REPORT ON INSURANCE AND PENSIONS

37 GENERAL INSURANCE BUSINESS DEPOSITS RETAINED IN RESPECT OF INSURANCE COMPANIES AS AT 31ST DECEMBER 2006 (continued) Companies OTHER Trinidad and Tobago Government Securities in T.T. Other Trinidad and Tobago Government Securities Other Securities Lloyds Underwriters 40,708 40,708 40,708 40,708 GRAND 239,094, ,477, ,993, ,544,232 REPORT ON INSURANCE AND PENSIONS 35

38 INSURANCE COMPANIES GENERAL INSURANCE MOTOR 4.06 Eighteen (18) companies wrote business during The Caribbean Insurance Company, Royal Caribbean Insurance, The Mountain General Insurance Company and The Western General Insurance Company wrote no new business, while Nationwide Casualty General Insurance Company is under Judicial Management, while Goodwill General Insurance Company and Citizens Insurance Company are under intervention. Statutory Funds 4.07 Section 37(5) of the Insurance Act, Chap. 84:01 requires that every company carrying on Motor Vehicle Insurance business should establish a statutory fund by placing in trust in Trinidad and Tobago assets equal to its liability and reserves less the amount held on deposit in accordance with Section 29 of the Act The Revenue Account of companies transacting motor business showed a cumulative liability of 655,327,153. After deductions, including the amounts placed on deposit pursuant 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, The relationship between the policy liabilities and statutory fund assets of each company transacting motor insurance business is shown in Table XIII. Change in Premium Income 4.10 Net premium income in 2006 as reported by eighteen (18) companies totaled 638,334,693 ( ,735,437) Premium Income in respect of individual companies carrying on motor vehicle insurance business for the years 2002 to 2006 was as follows: 36 REPORT ON INSURANCE AND PENSIONS

39 GENERAL INSURANCE BUSINESS SCHEDULE SHOWING CHANGE IN NET PREMIUM INCOME MOTOR INSURANCE BUSINESS Companies 2002 (000) 2003 (000) 2004 (000) 2005 (000) 2006 (000) LOCAL American Life and General Insurance Co (Trinidad and Tobago) 7,814 8,643 8,258 13,052 18,879 Bankers Insurance Company of Trinidad and Tobago 3,755 6,457 14,732 14,183 14,183 Capital Insurance 35,965 39,630 45,248 48,719 55,316 Citizen Insurance Co 17,120 17,302 17,038 25,709 NR Colonial Fire and General Insurance Company 18,297 22,068 26,714 69,092 92,462 Furness Anchorage General Insurance 2,805 2,695 2,745 2,226 2,196 G.T.M. Fire Insurance Company 5,625 4,669 6,644 9,596 14,717 Guardian General Insurance 54,607 40,712 97, , ,642 Gulf Insurance 8,147 8,317 8,457 10,148 10,148 Maritime General Insurance Company 33,950 46,776 48,293 50,143 69,018 Motor and General Insurance Company 9,162 9,440 11,437 13,206 14,310 Motor One Insurance Company 6,633 6,598 10,931 13,673 20,549 Nationwide Insurance (Casualty and General) Company NR NR NR NR NR N.E.M. (WI) Insurance 70,101 66,723 12,550 Royal Caribbean Insurance (27) Sagicor General Insurance Inc. 21,594 32,442 The Beacon Insurance Company 15,392 12,480 12,364 13,284 15,876 REPORT ON INSURANCE AND PENSIONS 37

40 INSURANCE COMPANIES SCHEDULE SHOWING CHANGE IN NET PREMIUM INCOME MOTOR INSURANCE BUSINESS (continued) Companies 2002 (000) 2003 (000) 2004 (000) 2005 (000) 2006 (000) LOCAL The Goodwill General Insurance Company NR NR NR NR NR The Great Northern Insurance Company 4,870 5,934 6,379 8,265 9,778 The New India Assurance Company (Trinidad and Tobago) 6,660 8,272 10,556 13,726 21,078 The Presidential Insurance Company 16,788 17,138 17,847 19,059 21,343 The Reinsurance Company of Trinidad and Tobago 2,424 5,613 7,605 8,487 15,898 Trinidad and Tobago Insurance 40,663 44,379 55,530 66,164 79,498 Grand Total 360, , , , ,335 (See Figure 9) NR Returns Not Received 38 REPORT ON INSURANCE AND PENSIONS

41 GENERAL INSURANCE BUSINESS FIGURE 9 Motor Insurance Business Net Premium Income YEAR 2002 Net Premium (M) REPORT ON INSURANCE AND PENSIONS 39

42 INSURANCE COMPANIES Underwriting Results 4.12 In 2006, the underwriting results of motor vehicle insurance business showed an overall underwriting profit of 45,648,574 as compared to an overall underwriting profit of 26,528,313 in Details are in Table XIV Reinsurance 4.13 An examination of Premium Analysis statements revealed the following net retention ratios (i.e., Net Premiums retained as a percentage of Gross Premiums written by companies). YEAR PER CENT REPORT ON INSURANCE AND PENSIONS

43 GENERAL INSURANCE BUSINESS REINSURANCE MOTOR INSURANCE BUSINESS 2006 Companies LOCAL GROSS PREMIUMS NET PREMIUMS NET RETENTION RATIO % American Life and General Insurance Company (Trinidad and Tobago) 19,203,400 18,878, Bankers Insurance Company of T&T 18,216,219 14,183, Capital Insurance 57,512,298 55,316, Colonial Fire & General Insurance Co. 95,769,368 92,462, Furness Anchorage General Insurance 2,526,042 2,196, G.T.M. Fire Insurance Company 19,684,899 14,716, Guardian General Insurance 143,551, ,642, Gulf Insurance 11,664,122 10,148, Maritime General Insurance Company 81,990,595 69,018, Motor and General Insurance Company 14,372,173 14,310, Motor One Insurance Company 22,706,160 20,549, Reinsurance Company of Trinidad & Tobago 17,377,395 15,898, The Beacon Insurance Company 17,506,022 15,876, REPORT ON INSURANCE AND PENSIONS 41

44 INSURANCE COMPANIES REINSURANCE MOTOR INSURANCE BUSINESS 2006 (continued) Companies LOCAL GROSS PREMIUMS NET PREMIUMS NET RETENTION RATIO % Sagicor General Insurance Company 33,048,964 32,441, The Great Northern Insurance Company 10,153,052 9,778, The New India Assurance Company (T&T) 22,159,883 21,077, The Presidential Insurance Company 22,977,532 21,343, Trinidad and Tobago Insurance 84,511,138 79,498, ,930, ,334, GRAND 694,930, ,334, REPORT ON INSURANCE AND PENSIONS

45 GENERAL INSURANCE BUSINESS GENERAL INSURANCE OTHER THAN LONGTERM OR MOTOR 4.14 Twentytwo (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 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 Details are in Tables XVIXX Change in Premium Income 4.16 During the year 2006 net premium income totaled million, an increase of 33.7% over the 2005 net premium income of million Premium Income in respect of individual companies during the years 2002 to 2006 was as follows: SCHEDULE SHOWING NET PREMIUM INCOME FOR PERIOD 2002 to 2006 OTHER THAN LONGTERM OR MOTOR BUSINESS Companies 2002 (000) 2003 (000) 2004 (000) 2005 (000) 2006 (000) LOCAL American Life and General Insurance Company (Trinidad and Tobago) 58,477 56,882 56,484 41,777 61,336 Bankers Insurance Company of Trinidad and Tobago 1,218 2,527 2,099 5,692 5,883 BritishAmerican Insurance Company (Trinidad) NR 2,148 1, Capital Insurance Citizen Insurance Company NR Colonial Fire and General Insurance Company 55,085 59,959 63,132 65,418 69,285 ExportImport Bank of Trinidad and Tobago NR 2,229 2,526 2,290 2,085 NR Returns Not Received REPORT ON INSURANCE AND PENSIONS 43

46 INSURANCE COMPANIES SCHEDULE SHOWING NET PREMIUM INCOME FOR PERIOD 2002 to 2006 OTHER THAN LONGTERM OR MOTOR BUSINESS (continued) Companies 2002 (000) 2003 (000) 2004 (000) 2005 (000) 2006 (000) LOCAL Furness Anchorage General Insurance ,337 G.T.M. Fire Insurance Company 4,017 4,529 5,556 2,497 6,634 Guardian General Insurance 57,571 55,955 53,399 47,965 61,022 Guardian Life of the Caribbean 152, ,346 Gulf Insurance 2,500 4,562 4, ,887 Maritime General Insurance Company 4,985 5,122 6,134 2,663 6,615 Mega Insurance NR 212 Nationwide Insurance (Casualty & General) Company NR NR NR NR NR N.E.M. (West Indies) Insurance 43,796 50,494 1, The Reinsurance Company of Trinidad and Tobago 1,313 2,624 1,594 4,503 9,204 Royal Caribbean Insurance (67) 904 Sagicor General Insurance Inc. 9,901 15,908 The Beacon Insurance Company 7,866 9,768 18,151 13,064 26,436 The Great Northern Insurance Company The Goodwill General Insurance Company NR NR NR NR NR The New India Assurance Company (Trinidad and Tobago) 978 1,046 1, NR Returns Not Received 44 REPORT ON INSURANCE AND PENSIONS

47 GENERAL INSURANCE BUSINESS SCHEDULE SHOWING CHANGE IN NET PREMIUM INCOME OTHER THAN LONGTERM OR MOTOR BUSINESS (continued) Companies 2002 (000) 2003 (000) 2004 (000) 2005 (000) 2006 (000) LOCAL Trinidad and Tobago Insurance 30,015 31,186 32,033 24,195 31, , , , , ,728 REGIONAL Sagicor Life Incorporated 21,357 27,370 32,567 37,749 48,264 United Insurance Company 2,497 3,594 6,253 5,012 11,342 23,854 30,964 38,820 42,760 59,606 GRAND 292, , , , ,334 (See Figure 10) NR Returns Not Received REPORT ON INSURANCE AND PENSIONS 45

48 INSURANCE COMPANIES FIGURE 10 OTHER INSURANCE BUSINESS NET PREMIUM INCOME YEAR Net Premium Income Other Insurance Business (M) REPORT ON INSURANCE AND PENSIONS

49 GENERAL INSURANCE BUSINESS Underwriting Results 4.18 In 2006, the underwriting results of property insurance business revealed an overall underwriting loss of 76,672,930. This class of business experienced an overall underwriting loss of 59,338,208 in Details are summarized in Table XXI. Reinsurance 4.19 An examination of the Premium Analysis statements revealed the following average net retention ratios (that is, Net Premiums retained as a percentage of Gross Premiums written by Companies) % 2003 % 2004 % 2005 % 2006 % Property Other (that is, exclusive of Motor Vehicle, Property and Longterm) Details of the percentage of Gross Premium retained in respect of property insurance business are as follows: REINSURANCE PROPERTY BUSINESS 2006 Companies LOCAL GROSS NET NET RETENTION PREMIUMS PREMIUMS RATIO % American Life and General Insurance Co (Trinidad and Tobago). 201,900,969 11,547, Bankers Insurance Company of Trinidad and Tobago 4,308, , BritishAmerican Insurance Company (Trinidad) 1,474, , Capital Insurance 306, , Colonial Fire & General Insurance Co. 85,355,115 6,790, REPORT ON INSURANCE AND PENSIONS 47

50 INSURANCE COMPANIES REINSURANCE PROPERTY BUSINESS 2006 (continued) Companies LOCAL GROSS NET NET RETENTION PREMIUMS PREMIUMS RATIO % Furness Anchorage General Insurance 6,506, , G.T.M. Fire Insurance Company 19,254,715 3,040, Guardian General Insurance 81,901,842 13,043, Gulf Insurance 20,080,047 2,230, Maritime General Insurance Company 58,144,955 2,993, The Beacon Insurance Company 52,695,230 3,688, Sagicor General Insurance Incorporated 39,155,327 (774,700) (1.98) The Great Northern Insurance Company 117,033 59, The New India Assurance Company (T&T) 12,931,167 1,540, The Reinsurance Company of Trinidad & Tobago 19,712,933 1,444, Trinidad and Tobago Insurance 49,253,440 7,119, ,099,323 54,375, REGIONAL United Insurance Company 33,437,749 4,459, ,437,749 4,459, GRAND 686,537,072 58,834, Not writing new property business. 48 REPORT ON INSURANCE AND PENSIONS

51 GENERAL INSURANCE BUSINESS 4.21 Details of the percentage of Gross Premium retained in respect of other categories of general insurance business (excluding Motor and Property) are as follows: REINSURANCE OTHER THAN MOTOR, PROPERTY AND LONGTERM BUSINESS 2006 Companies LOCAL GROSS NET NET RETENTION PREMIUMS PREMIUMS RATIO % American Life and General Insurance Company (Trinidad and Tobago) 82,877,282 49,788, Bankers Insurance Company of T&T 5,906,595 5,691, BritishAmerican Insurance Company (Trinidad) Ltd 1,976,501 1,547, Colonial Fire & General Insurance Company 75,462,401 62,494, ExportImport Bank of Trinidad and Tobago 2,085,090 2,085, Furness Anchorage General Insurance 4,000,742 1,798, G.T.M. Fire Insurance Company 5,231,816 3,594, Guardian General Insurance 68,186,855 47,978, Guardian Life of the Caribbean 201,799, ,346, Gulf Insurance 3,824, , Maritime General Insurance Company 13,169,237 3,622, N.E.M. (West Indies) Insurance 8,826,349 3, The Beacon Insurance Company 63,938,312 22,747, Sagicor General Insurance Incorporated 39,303,600 16,682, REPORT ON INSURANCE AND PENSIONS 49

52 INSURANCE COMPANIES REINSURANCE OTHER THAN MOTOR, PROPERTY AND LONGTERM BUSINESS 2006 (continued) Companies LOCAL GROSS NET NET RETENTION PREMIUMS PREMIUMS RATIO % The New India Assurance Company (T&T) 521, , The Reinsurance Company of Trinidad & Tobago 59,720,662 7,759, Trinidad and Tobago Insurance 38,480,827 24,064, ,311, ,353, REGIONAL Sagicor Life Incorporated 50,149,479 48,263, United Insurance Company 10,391,897 6,882, ,541,376 55,146, GRAND 735,853, ,499, REPORT ON INSURANCE AND PENSIONS

53 GENERAL INSURANCE BUSINESS Solvency Test 4.22 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 the Companies Ordinance to be unable to pay its debts where the value of its admissible assets does not exceed the amount of its liabilities by which ever is the greater of the following amounts: (a) two hundred and fifty thousand dollars; or (b) twenty per cent (20%) of the general premium income of the company computed as at the end of its last financial year Details of the solvency position of companies registered to underwrite motor and other general insurance business are shown as follows: MARGIN OF SOLVENCY GENERAL INSURANCE BUSINESS 2006 Companies MINIMUM SOLVENCY REQUIREMENT IN ACCORDANCE WITH SECTION 77 OF THE INSURANCE ACT 1980 EXCESS (DEFICIT) ADMISSIBLE ASSETS OVER LIABILITIES MARGIN OF SOLVENCY/ INSOLVENCY + OR () LOCAL American Life and General Insurance Company Trinidad 16,042, ,349,861 88,306,982 Bankers Insurance Company (T&T) 4,013,255 (3,884,356) (7,897,611) British American Insurance Company (Trinidad) 2,342,449 (30,391,462) (32,733,911) Capital Insurance 11,087,543 25,082,873 13,995,330 Caribbean Insurance Company 250,000 5,096,457 4,846,457 Citizen Insurance Company UNDER INTERVENTION Colonial Fire & General Insurance Company 34,205,898 39,134,950 4,929,052 REPORT ON INSURANCE AND PENSIONS 51

54 INSURANCE COMPANIES MARGIN OF SOLVENCY GENERAL INSURANCE BUSINESS 2006 (continued) Companies MINIMUM SOLVENCY REQUIREMENT IN ACCORDANCE WITH SECTION 77 OF THE INSURANCE ACT 1980 EXCESS (DEFICIT) ADMISSIBLE ASSETS OVER LIABILITIES MARGIN OF SOLVENCY/ INSOLVENCY + OR () LOCAL Furness Anchorage General Insurance 906,724 5,992,487 5,085,763 GTM Insurance Company 4,270,136 7,635,580 3,365,444 Guardian General Insurance 45,823,020 80,445,915 34,622,895 Gulf Insurance 9,119,351 16,158,376 7,039,025 Maritime General Insurance Company 15,126,812 78,748,463 63,621,651 Motor and General Insurance Company 2,863,360 10,921,022 8,057,662 Motor One Insurance Company 4,109,800 8,929,647 4,819,847 N.E.M. (West Indies) Insurance 25,878, ,388, ,509,786 Royal Caribbean Insurance 250,000 (1,202,702) (1,452,702) Sagicor General 7,340,060 (1,488,081) (8,828,141) Sagicor Life Incorporated 50,211, ,291, ,079,307 The Beacon Insurance Company 13,597,283 16,458,336 2,861,053 The Great Northern Insurance Company 1,967,565 3,925,600 1,958,035 The New India Assurance Company (T&T) 7,249,155 40,874,349 33,625, REPORT ON INSURANCE AND PENSIONS

55 GENERAL INSURANCE BUSINESS MARGIN OF SOLVENCY GENERAL INSURANCE BUSINESS 2006 (continued) Companies MINIMUM SOLVENCY REQUIREMENT IN ACCORDANCE WITH SECTION 77 OF THE INSURANCE ACT 1980 EXCESS (DEFICIT) ADMISSIBLE ASSETS OVER LIABILITIES MARGIN OF SOLVENCY/ INSOLVENCY + OR () LOCAL The Presidential Insurance Company 4,268,692 7,134,522 2,865,830 The Reinsurance Company of Trinidad & Tobago 5,020, ,956 (4,155,520) Trinidad and Tobago Insurance 28,779, ,592, ,812, ,724, ,058, ,334,371 REGIONAL United Insurance Company 36,377,671 88,168,844 51,791,173 36,377,671 88,168,844 51,791,173 GRAND 331,101,995 1,025,227, ,125,544 + Caribbean Insurance Company is running off its portfolio. Nationwide Insurance (Casualty & General) Company, the Mountain General Insurance Company and the Western General Insurance Company, have stopped writing new business. NR Returns Not Received REPORT ON INSURANCE AND PENSIONS 53

56 INSURANCE COMPANIES 5. ASSOCIATION OF UNDERWRITERS Registration 5.01 Lloyd s Underwriters remained the only association of underwriters registered to transact insurance business in Trinidad and Tobago. Intermediaries 5.02 The names of Trinidad and Tobago intermediaries through whom insurance or reinsurance was placed at Lloyd s are listed hereunder: Charlett and Gatcliffe Insurance Brokers West Indies M & M Insurance Services Miller Insurance Brokers 21st Century Insurance and Reinsurance Brokers Volume of BusinesS 5.03 Insurance business placed at Lloyd s during the years 2006 and 2005 are detailed below: Premiums Received Claims Paid Direct Insurance 104,019,247 90,307,140 7,592,050 18,627,094 Reinsurance 140,996, ,262, ,015, ,569,526 7,592,050 18,627, REPORT ON INSURANCE AND PENSIONS

57 PART II INSURANCE INTERMEDIARIES 6. PART II insurance intermediaries 6.01 The following table shows the number of intermediaries that were registered during 2006 in accordance with Part III of the Insurance Act, Chap. 84:01. IntermediarIES NEW APPLICATIONS approved in 2006 Renewal Certificates Issued in 2006 SALESMEN: AGENTS: 471 1,353 (a) (b) (c) Individuals Partnerships Corporate Bodies BROKERS: (a) (b) (c) Individuals Partnerships Corporate Bodies ADJUSTERS: (a) (b) (c) Individuals Partnerships Corporate Bodies List of registered Agents, Brokers and Adjusters are provided at Appendices B, C and D respectively of this report. REPORT ON INSURANCE AND PENSIONS 55

58 INSURANCE INTERMEDIARIES Examinations 6.02 The Trinidad and Tobago Insurance Institute is the approved educational institution to supervise and administer examinations referred to in Part III of the Act The results of examinations in life and general insurance and Diploma in Motor Insurance Claims Investigation & Adjusting which were held in 2006 are as follows: NO. OF PERSONS REGISTERED TO WRITE EXAMS NO. OF PERSONS WHO WERE SUCCESSFUL NO. OF PERSONS REGISTERED TO WRITE EXAMS BUT DID NOT Longterm Insurance Examinations April June August September October December General Insurance Examinations April June August October December Paper 2 Motor Insurance Claims Principles & Practices December REVENUE 6.04 The total revenue collected from registration fees for the period ended 31st December 2006 amounted to 940,500 and in , REPORT ON INSURANCE AND PENSIONS

59 PART III PENSION FUND PLANS 7. PART III pension FUND PLANS 7.01 No new Pension Plans were registered during The number of active registered Pension Fund Plans now stands at one hundred and ninetyseven (197) comprising ninetytwo (92) selfadministered Pension Fund Plans and one hundred and five (105) insured/annuity plans. There are now fiftynine (59) plans in the process of being woundup; this figure is inclusive of one (1) plan which is under judicial management. A list of the pension plans is provided at Appendix E to this report The list of the active registered pension plans is provided at Appendix E to this report. Amendments 7.04 Two (2) amendments were made to the Trust Deeds and Rules of two (2) pension fund plans, during the period under review. The amendments were registered upon payment of the prescribed fee. Revenue 7.05 Revenue in respect of the amendments thereto for the year ended 31st December 2006 was twenty dollars (20.00). Annual Accounts 7.06 The trustees of pension fund plans submitted annual audited accounts in respect of one hundred and thirtynine (139) plans. Seventy (70) were in respect of self administered pension fund plans and sixtynine (69) were in respect of insured /annuity pension fund plans For the purpose of this report, insured plans included plans which are administered by an insurer under a deposit administration contract The Accounts received are detailed at Tables XXX11 to XXXV. REPORT ON INSURANCE AND PENSIONS 57

60 PENSION FUND PLANS 7.09 The following information has been extracted from the annual accounts received. REVENUE ACCOUNTS 2006 INSURED PENSION FUND PLANS REVENUE (1) Amount of Fund at beginning of period (2) Contributions by employers (3) Contributions by employees (4) Any additional contribution by employer to meet deficiency or back service liability (5) Interest, Dividends and Rents (6) Other Income 929,797,377 29,961,183 18,953, ,523 64,505,601 1,422,175 REVENUE 1,045,271,747 EXPENDITURE (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 period 25,954,857 5,957, ,726 3,442,480 6,980,749 1,002,309,033 EXPENDITURE 1,045,271, REPORT ON INSURANCE AND PENSIONS

61 PENSION FUND PLANS REVENUE ACCOUNTS 2006 SELF ADMINISTERED PENSION FUND PLANS REVENUE (1) Amount of Fund at beginning of period (2) Contributions by employers (3) Contributions by employees (4) Any additional contribution by employers to meet deficiency or back service liability (5) Interest, Dividends and Rents (6) Other Income REVENUE 20,242,649, ,940, ,541,076 2,810, ,178,553 (117,224,824) 21,361,895,104 EXPENDITURE (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 period EXPENDITURE 304,777, ,863,032 18,470,312 22,587,148 1,727,418,267 19,139,778,474 21,361,895, Contributions received for the years 2002 to 2006 were shared as follows: CONTRIBUTIONS RECEIVED IN: EMPLOYER 158,882, , 891, ,995, ,345, ,343,391 EMPLOYEES 91,547, , 894,595 92,086, ,806, ,494,964 (See Figure 11) REPORT ON INSURANCE AND PENSIONS 59

62 PENSION FUND PLANS Balance Sheets 7.11 The Insurance Act requires that balance sheets should be furnished only in respect of selfadministered pension fund plans. In respect of insured pension fund plans the relevant information is incorporated in the Balance Sheet which the insurance company is required to submit with its annual financial returns The following assets distribution statement in respect of selfadministered plans has been compiled from the balance sheets of the accounts of selfadministered plans received for the year ASSETS OF SELFADMINISTERED PLANS Trinidad and Tobago Government Securities denoted in TT Mortgages Real Estate Trinidad and Tobago Equities Fixed/Call Deposits Other Trinidad and Tobago Assets Trinidad and Tobago Government Securities denoted in Foreign Currency ,578,656, ,650,234 24,253,400 7,298,633,435 1,342,439,246 7,204,791, ,527, ,511,440, ,676,583 20,931,066 9,794,178, ,842,907 7,404,858, ,438,794 LOCAL ASSETS 17,822,951,766 20,171,367,141 Caricom/Foreign Government Securities Other Caricom/Foreign Securities ASSETS IN FUND 275,661,899 1,800,155,881 19,898,769, ,348,596 1,858,635,283 22,109,004,547 LOCAL ASSETS RATIO 89.57% 91.14% (see Figure 12) 7.13 During the year 2006 the Actuarial Valuations of fortyone (41) registered pension fund plans were submitted The reports were reviewed with particular reference to the comments and/or recommendations of the Actuaries with respect to the solvency position of each Plan. 60 REPORT ON INSURANCE AND PENSIONS

63 PENSION FUND PLANS FIGURE 11 PENSION PLAN CONTRIBUTIONS MILLIONS EMPLOYERS EMPLOYEES EMPLOYEES EMPLOYERS REPORT ON INSURANCE AND PENSIONS 61

64 PENSION FUND PLANS FIGURE 12 PENSION FUND PLANS ASSETS OF SELF ADMINISTERED PLANS Mortgages 1% Foreign Assets 10% Fixed Deposits 7% Mortgages 1% Foreign Assets 9% Fixed Deposits 4% Gov t Sec 7% Gov t Sec 8% Other 74% Other 79% MORTGAGES 253,650, ,676,583 FOREIGN ASSETS 2,075,817,780 1,937,637,406 FIXED DEPOSITS 1,342,439, ,842,907 T&T GOV T SEC. 1,578,656,446 1,511,440,380 OTHER 14,648,205,840 17,468,753,744 19,898,769,546 22,131,351,020 Other includes Real Estate, T&T Equities & Other T&T Assets 62 REPORT ON INSURANCE AND PENSIONS

65 ACTUARIAL INVESTIGATIONS SUMMARIES OF THE RESULTS AND RECOMMENDATIONS OF THE ACTUARIAL INVESTIGATIONS ARE REPORTED HEREUNDER: NAME OF PLAN ACTUARY VALUATION DATE RESULTS AND RECOMMENDATIONS TRINTOC Staff Retirement Plan Bacon Woodrow & De Souza September 30, 2004 The valuation revealed a past service surplus of 69.4 million with a funding level of 105%. It was recommended that: (a) The Company continue to contribute to the Plan at the minimum rate i.e. twice members ordinary contribution. (b) The Trustees review the Plan s investment strategy with the Plan s Management Committee and Petrotrin with a view to diversifying the Asset portfolio. The next actuarial valuation must be carried out no later than September 30, Trinmar Employees Benefit Plan Bacon Woodrow & De Souza September 30, 2004 The valuation revealed a past service surplus of million with a funding level of 133%. It was recommended that: (a) The Company continue to contribute to the Plan at the minimum rate i.e. 12% of pensionable earnings. (b) The Trustees review the Plan s investment strategy with the Plan s Management Committee and Petrotrin with a view to diversifying the Asset portfolio. The next actuarial valuation must be carried out no later than September 30, Trintoc Contributory Pension Fund A Bacon Woodrow & De Souza September 30, 2004 The valuation revealed a past service surplus of million with a funding level of 229%. It was recommended that: (a) The Company continue to contribute to the Plan at the minimum rate i.e. twice members ordinary contribution. (b) The Trustees review the Plan s investment strategy with the Plan s Management Committee and Petrotrin with a view to diversifying the Asset portfolio. The next actuarial valuation must be carried out no later than September 30, REPORT ON INSURANCE AND PENSIONS 63

66 ACTUARIAL INVESTIGATIONS SUMMARIES OF THE RESULTS AND RECOMMENDATIONS OF THE ACTUARIAL INVESTIGATIONS ARE REPORTED HEREUNDER (continued) NAME OF PLAN ACTUARY VALUATION DATE RESULTS AND RECOMMENDATIONS Trintoc Employees Benefit Plan Bacon Woodrow & De Souza September 30, The valuation revealed a past service surplus of million with a funding level of 148%. It was recommended that: (a) The Company continue to contribute to the Plan at the minimum rate i.e. twice members ordinary contribution. (b) The Trustees review the Plan s investment strategy with the Plan s Management Committee and Petrotrin with a view to diversifying the Asset portfolio. The next actuarial valuation must be carried out no later than September 30, Trintopec Staff Pension Plan Bacon Woodrow & De Souza September 30, 2004 The 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 the Plan at the minimum rate i.e. twice members ordinary contribution. (b) The Trustees review the Plan s investment strategy with the Plan s Management Committee and Petrotrin with a view to diversifying the Asset portfolio. The next actuarial valuation must be carried out no later than September 30, Trintopec Employees Pension Plan Bacon Woodrow & De Souza September 30, 2004 The valuation revealed a past service surplus of million with a funding level of 194%. It was recommended that: (a) The Company continue to contribute to the Plan at the minimum rate i.e. twice members ordinary contribution. (b) The Trustees review the Plan s investment strategy with the Plan s Management Committee and Petrotrin with a view to diversifying the Asset portfolio. The next actuarial valuation must be carried out no later tnan September 30, Trintoc Contributory Pension Fund B Bacon Woodrow & De Souza September 30, 2004 The valuation revealed a past service surplus of million with a funding level of 226% It was recommended that: (a) The Company continue to contribute to the Plan at the minimum rate i.e. twice members ordinary contribution. (b) The Trustees review the Plan s investment strategy with the Plan s Management Committee and Petrotrin with a view to diversifying the Asset portfolio. The next actuarial valuation must be carried out no later than September 30, REPORT ON INSURANCE AND PENSIONS

67 ACTUARIAL INVESTIGATIONS SUMMARIES OF THE RESULTS AND RECOMMENDATIONS OF THE ACTUARIAL INVESTIGATIONS ARE REPORTED HEREUNDER (continued) NAME OF PLAN ACTUARY VALUATION DATE RESULTS AND RECOMMENDATIONS First Citizens Bank Pension Fund Bacon Woodrow & De Souza September 30, The valuation revealed a past service surplus of million with a funding level of 157% It was recommended that: (a) The Bank 0.032should continue to contribute at the rate of 5% of salaries until the results of the next valuation. (b) The Trustees review the Plan s investment strategy with the Plan s Management Committee and the Bank with a view to bringing the asset distribution into compliance with the provisions of the Insurance Act and diversifying the asset portfolio as part of implementing a formal Statement of Investment Policy which is regarded as a key element of a strong governance structure for a pension plan. The next valuation is due to take place as at September 30, Halliburton Trinidad Pension Plan Martin Rondeau (Mercer Human Resource Consulting) January 1, 2004 The valuation revealed a deficit of 7.7 million with a funding level of 75%. It was recommended that: (a) The current Past Service Liability be amortized over the next 15 years. (b) A total contribution as follows: (i) 2004 normal cost contribution of 13.5% of annual payroll, plus (ii) an annual payment of 796,000. National Agro Chemicals Pension Fund Plan Bacon Woodrow & De Souza June 1, 2003 The valuation revealed a deficit of.210 million with a funding level of 79.2%. It was recommended that: (a) The Company increase its contributions to 9.8% of members salaries with effect from January 1, (b) Any contributions paid into the Plan that are in excess of the premiums being charged by Guardian Life are invested by the Trustee in a separate segregated fund with the Plan s rebates. This fund can be used to finance future increases in Guardian Life s premiums as these arise. REPORT ON INSURANCE AND PENSIONS 65

68 ACTUARIAL INVESTIGATIONS SUMMARIES OF THE RESULTS AND RECOMMENDATIONS OF THE ACTUARIAL INVESTIGATIONS ARE REPORTED HEREUNDER (continued) NAME OF PLAN ACTUARY VALUATION DATE RESULTS AND RECOMMENDATIONS National Agro Chemicals Pension Fund Plan Bacon Woodrow & De Souza June 1, (c) The Trustee and the Company review the Plan s investment strategy. In particular, consideration should 6.963be given to surrendering the existing Policy with Guardian Life (d) The recommendations above will be subject to immediate review if the benefit or contribution provisions of the Plan are amended before the next valuation. The next actuarial valuation should be carried out no later than June 1, J.N. Hariman Bacon Woodrow & De Souza January 1, 2003 The valuation revealed a past service surplus of 3.1 million with a funding level of 129%. It was recommended that: (a) The Company should continue to pay arrears of members contributions to the Plan as quickly as possible. (b) Subject to the necessary approval from the Board of Inland Revenue and to review if and when either pension increases or any further benefit improvements are awarded, the Company should continue its present contribution holiday. This will be reviewed at the next valuation. The next valuation should be carried out no later than January 1, MandevQualassure Pension Fund Plan Bacon Woodrow & De Souza September 30, 2003 The valuation revealed a past service surplus of million with a Funding level of 214%. It was recommended that: (a) The Bureau should continue to contribute at the minimum rate of 18%. (b) The recommendation at (a) will be subject to immediate review if the benefit or contribution provisions of the Plan are amended before the next valuation. The next valuation should be carried out no later than September 30, REPORT ON INSURANCE AND PENSIONS

69 ACTUARIAL INVESTIGATIONS SUMMARIES OF THE RESULTS AND RECOMMENDATIONS OF THE ACTUARIAL INVESTIGATIONS ARE REPORTED HEREUNDER (continued) NAME OF PLAN ACTUARY VALUATION DATE RESULTS AND RECOMMENDATIONS Consolidated Insurance Consultants Bacon Woodrow & De Souza June 30, The valuation revealed a past service surplus of 58.1 million with a funding level of 640% It was recommended that: (a) The Company should 0.033continue its contribution holiday. This will be reviewed at the next valuation. (b) The company adopt a formal mechanism for granting annual increases between actuarial valuations. (c) The Trustees review the Plan s investment strategy with the Plan s Management Committee and the Company with a view to diversifying the asset portfolio. This should be done as part of implementing a formal Statement of Investment Policy, which is regarded as a key element of a strong governance structure for a pension plan. The next valuation should be carried out no later than June 30, T&TEC Pension Fund Plan Bacon Woodrow & De Souza December 31, 2003 The valuation revealed a past service surplus of.657 million with a funding level of 144%. It was recommended that: (a) The Company should continue contributing at the existing rate of 15% of members basic pay. (b) The Committee discuss the Plan s investment strategy with T&TEC and Powergen with a view to rebalancing the asset portfolio as part of implementing a formal Statement of Investment Policy. The next valuation should be carried out no later than December 31, REPORT ON INSURANCE AND PENSIONS 67

70 ACTUARIAL INVESTIGATIONS SUMMARIES OF THE RESULTS AND RECOMMENDATIONS OF THE ACTUARIAL INVESTIGATIONS ARE REPORTED HEREUNDER (continued) NAME OF PLAN ACTUARY VALUATION DATE RESULTS AND RECOMMENDATIONS Bel Air International Airport Hotel Ltd. Pension Fund Plan Eckler Partners June 1, The valuation revealed a deficit of ,068 with a funding level of 41.19%. It was recommended that:6.963 (a) The Company increase its monthly contribution s to 15, The next valuation should be conducted on or before June 1, Associated Brands Group Pension Bacon Woodrow & De Souza January 1, 2005 The valuation revealed a past service surplus of million with a funding level of 117%. It was recommended that: (a) The Trustees review the Plan s investment strategy with the Plan s Management Committee and the Companies with a view to diversifying the asset portfolio in conjunction with a formal Statement of Investment Policy which is regarded as a key element of a strong governance structure for a pension plan. The next valuation is due to take place as at January 1, TEXTEL Pension Plan Bacon Woodrow & De Souza March 31, 2005 The valuation revealed a past service surplus of million with a funding level of 169% after adequate provision has been made to fund benefits at the TSTT Plan level including EERP enhancements It was recommended that: (a) No contributions to the Plan are needed from TSTT for the time being. The next actuarial valuation is due to take place as at March 31, REPORT ON INSURANCE AND PENSIONS

71 ACTUARIAL INVESTIGATIONS SUMMARIES OF THE RESULTS AND RECOMMENDATIONS OF THE ACTUARIAL INVESTIGATIONS ARE REPORTED HEREUNDER (continued) NAME OF PLAN ACTUARY VALUATION DATE RESULTS AND RECOMMENDATIONS Coates Brothers (Caribbean) Staff Pension Fund Plan Daine Baker October 31, The valuation revealed a past service surplus of 1.9 million with a funding level of 154% It was recommended that: (a) Consideration 0.032be given to improving benefits payable by the Plan. The next valuation should be carried out as at October 31, RBTT Pension Fund Plan KR Consulting March 31, 2004 The valuation revealed a past service surplus of 11.1 million with a funding level of 112%. It was recommended that: (a) The surplus be carried forward as a contingency reserve to next valuation. The next actuarial valuation should be performed on March 31, JTA Supermarkets Ltd. Pension Fund Plan KR Consulting January 1, 2004 The valuation revealed a past service surplus of 2.7 million with a funding level of 153%. It was recommended that: (a) The Company should continue to contribute at the rate of 4% of salaries until the next valuation. (b) Discussions should be held with the Trustees and the Actuary as to the use of the remaining surplus. The next valuation should be performed on or before January 1, YTEPP Pension Plan Eckler Partners July 1, 2004 The valuation revealed a past service surplus of 100,566 with a funding level of 106%. It was recommended that: (a) The Company should contribute at the rate of % of the covered Pensionable Payroll. The next valuation be conducted on or before July 1, REPORT ON INSURANCE AND PENSIONS 69

72 ACTUARIAL INVESTIGATIONS SUMMARIES OF THE RESULTS AND RECOMMENDATIONS OF THE ACTUARIAL INVESTIGATIONS ARE REPORTED HEREUNDER (continued) NAME OF PLAN ACTUARY VALUATION DATE RESULTS AND RECOMMENDATIONS British American Insurance Company Pension Fund Plan KR Consulting December 31, The valuation revealed a past service surplus of 3.4 million with a funding level of 120% It was recommended that: (a) The Company should continue to contribute at the same rate as Members, i.e. 5%. (b) The residual surplus should be carried forward as a contingency reserve against future adverse experience, and in particular, any continuing poor performance on the stock exchange. The next valuation should be performed on or before December 31, Point Lisas Industrial Development Corp. Ltd. Pension Fund Plan Bacon Woodrow & De Souza December 31, 2004 The valuation revealed a past service surplus of 2.3 million with a funding level of 105%. It was recommended that: (a) The Company continue to pay contributions at the current rate of 5% of pensionable earnings until the results of the next valuation due as at 31 December 2007 are available. This Contribution rate will be reviewed at the next valuation. (b) The Trustees review the Plan s investment strategy with the Plan s Management Committee with a view to diversifying the asset portfolio as part of Implementing a formal Statement of Investment Policy which is regarded as a key element of a strong governance structure for a pension plan. The next valuation is due to take place as at December 31, REPORT ON INSURANCE AND PENSIONS

73 ACTUARIAL INVESTIGATIONS SUMMARIES OF THE RESULTS AND RECOMMENDATIONS OF THE ACTUARIAL INVESTIGATIONS ARE REPORTED HEREUNDER (continued) NAME OF PLAN ACTUARY VALUATION DATE RESULTS AND RECOMMENDATIONS F.T. Farfan & Sons Ltd. Pension Fund Plan Eckler Partnmers Ltd April 1, The valuation revealed a deficit of 795, with a funding level of 88.85% It was recommended that: (a) If allowance is made for the existing deficit to be funded over the next ten years the Company contribute at a rate of 11.75% of covered payroll. The next valuation be conducted on or before April 1, Neal & Massy Group Pension Plan Eckler Partnmers Ltd. March 31, 2005 The valuation revealed a past service surplus of 391, 113 with a funding level of 179%. It was recommended that: (a) No contributions be paid. {NB Contributions were suspended pursuant to Rule 23(c)} The next valuation should be conducted on or before March 31, Trinidad Hilton Pension Fund Plan Bacon Woodrow & De Souza January 1, 2006 The valuation revealed a past service surplus of 26.2M with a funding level of 196% It was recommended that : (a) The Hotel continue to contribute at the same rate as members. (b) The Plan s financial position and the recommended contribution rate will be reviewed at the next valuation. The next valuation is due to take place as at January 1, Lange Trinidad Ltd. Pension Fund Plan Eckler Partners July 1, 2005 The 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 at the level of % of increasing Payroll at which rate the deficit will be funded over the next fourteen years. (b) The Company reduce the interest rate credited on members voluntary contributions to 6 % in the light of falling investment Returns. The next valuation should be conducted on or before July 1, REPORT ON INSURANCE AND PENSIONS 71

74 ACTUARIAL INVESTIGATIONS SUMMARIES OF THE RESULTS AND RECOMMENDATIONS OF THE ACTUARIAL INVESTIGATIONS ARE REPORTED HEREUNDER (continued) NAME OF PLAN ACTUARY VALUATION DATE RESULTS AND RECOMMENDATIONS Trintoplan Consultants Pension Fund Plan Bacon Woodrow & De Souza December 31, The valuation revealed a past service surplus of 41.4 million with a funding level of 204% It was recommended that: (a) The members and the Company continue on their contribution Holiday. The Plan s financial position and the recommended contribution rate will be reviewed at the next valuation. (b) The Trustees review the Plan s investment strategy with the Management Committee and the Company with a view to diversifying the asset portfolio as part of Implementing a formal Statement of Investment Policy which is regarded as a key element of a strong governance structure for a pension plan. The next valuation is due to take place as at December 31, Trinidad and Tobago Unit Trust Corporation Pension Fund Plan Eckler Partners Ltd. January 1, 2004 It was recommended that: (a) Outstanding contributions of 27,458 as at the valuation date be remitted to the Fund. (b) The contingency reserve of 1.1M be carried forward until the date of the next actuarial review. The next valuation should be conducted no later than January 1, Bank of Commerce Trinidad and Tobago Retirement Plan Bacon Woodrow & De Souza September 30, 2005 The valuation revealed a past service surplus of million with a funding level of 209%. It was recommended that: (a) The Trustees review the Plan s investment strategy with the Plan s Investment Manager and the Bank. This should be done as part of implementing a formal Statement of Investment Policy which is regarded as a key element of a strong governance structure for a pension plan. The Policy should be formulated having regard to the needs of the Plan as it will stand aafter the transfer has taken place. 72 REPORT ON INSURANCE AND PENSIONS

75 ACTUARIAL INVESTIGATIONS SUMMARIES OF THE RESULTS AND RECOMMENDATIONS OF THE ACTUARIAL INVESTIGATIONS ARE REPORTED HEREUNDER (continued) NAME OF PLAN ACTUARY VALUATION DATE RESULTS AND RECOMMENDATIONS Berger Paints Bacon Woodrow & De Souza December 31, The valuation revealed a past service surplus of 8.3 million with a funding level of 163% It was recommended that: (a) The present suspension of contributions by the members and the Company should continue until the results of the next valuation. (b) The recommendation at (a) will be subject to immediate review if a benefit improvement is implemented before then. The actuarial valuation should be carried out no later than December 31, Republic Bank Staff Pension Plan Bacon Woodrow & De Souza September 30, 2005 The valuation revealed a past service surplus of 1,070.8 million with a funding level of 197%. It was recommended that: (a) The Bank should pay no contributions to the Plan. This recommendation will be reviewed at the next valuation. The next valuation is due to take place as at September 30, Trinidad Nitrogen Company Pension Fund Plan Daine Baker December 31, 2005 The valuation revealed a past service deficit of 380, 000 with a funding level of 82.9%, however the plan was fully solvent at the valuation date. It was recommended that: (a) The Company should contribute to the Plan at the rate of 12.0% of members basic salaries. (b) The members contribute to the Plan at the rate of 6.0% of their basic salaries. (c) The Company should continue to make quarterly payments of 89, 800 for the period January 1, 2005 to December 31, 2007 to fund the deficit and maintain the Company contribution rate at12 % of members basic salaries. The next actuarial valuation of the Plan should be carried out on data as at December 31, REPORT ON INSURANCE AND PENSIONS 73

76 ACTUARIAL INVESTIGATIONS SUMMARIES OF THE RESULTS AND RECOMMENDATIONS OF THE ACTUARIAL INVESTIGATIONS ARE REPORTED HEREUNDER (continued) NAME OF PLAN ACTUARY VALUATION DATE RESULTS AND RECOMMENDATIONS Trinidad and Tobago National Petroleum Contributory Pension Plan I Bacon Woodrow & De Souza March 31, The valuation revealed a past service surplus of million with a funding level of 147%. It was recommended that: (a) The Company contribute at a reduced rate of 12.0% (b) The Trustees implement a formal statement of investment Policy together with the Management Committee and the Company. F. T. Farfan & Sons Pension Plan Eckler Partners April 1, 2005 The valuation revealed a past service deficit of 795,335 with a funding level of 88.85%. It was recommended that: (a) To fund the deficit over the next 10 years the company should contribute at the rate of 11.75% of member s salaries. At the end of this period the Company can contribute at the rate of 10.34% of covered payroll. (b) Deed to alter rules to allow females to retire at age 60 should be drafted and sent to the BIR for formal approval. (c) Follow up should be done with BIR to ensure formal approval of amendments. (d) A 4% increase to pensioners and deferred pensioners. (e) Rate of interest credited to members compulsory and voluntary contributions increased from 5.5% to 6%. The next valuation should be conducted on or before April 1, Ferreira Optical Pension Fund Plan KR Services August 31, 2004 The valuation revealed a past service surplus of 1,029,000 with a funding level of %. It was recommended that: (a) The Company continue to contribute at the rate of 5% of member s salaries. Plan surplus continue to be used to fund Company AVCs. (b) Remaining surplus carried forward as a contingency reserve. The next valuation is due on August 31, REPORT ON INSURANCE AND PENSIONS

77 ACTUARIAL INVESTIGATIONS SUMMARIES OF THE RESULTS AND RECOMMENDATIONS OF THE ACTUARIAL INVESTIGATIONS ARE REPORTED HEREUNDER (continued) NAME OF PLAN ACTUARY VALUATION DATE RESULTS AND RECOMMENDATIONS Cuna Caribbean Insurance Society Pension Fund Plan Bacon, Woodrow & De Souza June 30, The valuation revealed a past service surplus of 395,000 with a funding level of % It was recommended that: (a) Participating Companies continue to contribute at 10% of members salaries. (b) Interest declared in future years equal to the return on the smoothed market value of the Plan s assets, net of actual administration expenses incurred. (c) Interest until the next actuarial valuation should be net of the insurance premiums for the lumpsum death benefit. (d) The MC and the Trustees consider possibility of crediting negative interest when asset values fall. Seek legal advice if necessary. (d) Investment strategy should be reviewed particularly relating to purchase of annuities. Implementation of a statement of investment policy. Eric Solis Marketing Pension Plan Eckler Partners limited January 1, 2003 The valuation revealed a past service surplus of 1,185,216 with a funding level of %. It was recommended that: (a) The company should consider granting increases to the order of 4% p.a. to the existing pensioners and deferred pensioners. (b) Trustees should keep the rate of return credited on Member contribution balances at 8% p.a. Credited rate should fall below rate of return on plan assets. Trustees should monitor this. (c) Company and members should take a contribution holiday with retroactive effect to January 1, REPORT ON INSURANCE AND PENSIONS 75

78 ACTUARIAL INVESTIGATIONS SUMMARIES OF THE RESULTS AND RECOMMENDATIONS OF THE ACTUARIAL INVESTIGATIONS ARE REPORTED HEREUNDER (continued) NAME OF PLAN ACTUARY VALUATION DATE RESULTS AND RECOMMENDATIONS Fujitsu ICL Caribbean (Trinidad) Pension Fund Plan Bacon Woodrow & De Souza June 30, The valuation revealed a past service surplus of 803,000 with a funding level of % It was recommended that: (a) The Company should reduce the contribution rate to 5% of members salaries with immediate effect. The contribution credits to account balances be financed from surplus. (b) The Trustees should review the plan s investment strategy with the MC and the company with a view of diversifying the asset portfolio. This review should be completed as part of implementing a formal Statement of Investment Policy. (c) The next valaution should be done no later than 30 June William H. Scott Pension Plan Daine Baker February 28, 2006 The valuation revealed a past service surplusof 2,518,000 with a funding level of %. It was recommended that: (a) Company could continue to contribute at 5% of salaries. (b) Consideration should be given to improving benefits: increasing accrual rate and increasing pensions in payment. (c) Next valuation to be carried out on February 28, Nestle Trinidad & Tobago Senior Staff Pension Plan Bacon Woodrow & De Souza December 31, 2004 The valuation revealed a past service deficit of 8,275,000 with a funding level of 88.17%. It was recommended that: (a) The company continues to pay contributions at the rate of 12% of members pensionable salaries. This contribution rate will be reviewed at the next valuation which is due at December 31, (b) Trustees review the plan s investment strategy with the Plan s IM and the Company. This should be done as part of implementing a formal SIP. 76 REPORT ON INSURANCE AND PENSIONS

79 APPENDIX A SUMMARY OF BALANCE SHEETS OF INCORPORATED COMPANIES AMERICAN LIFE AND GENERAL INSURANCE COMPANY (TRINIDAD AND TOBAGO) LIMITED INCORPORATED 1977 Directors: G. DEANE; C. TALAVARA; I. SINANAN; D. PATRICK; G. MC CLENNEN; B. DOZIER; M. BUTHE; M. HANSEN; R ELIA Secretary: Auditors: Actuary: I. SINANAN PRICEWATERHOUSECOOPERS K R SERVICES LIMITED Countries other than Trinidad and Tobago in which the Company writes business: NIL Summary of Balance Sheet in respect of Trinidad and Tobago Business as at 31st December, 2006 assets Investments: Fixed Deposits with Bank Trinidad and Tobago Government Securities Ordinary shares in T&T Companies Ordinary shares in nont&t Companies Bonds and Debentures in T&T Companies Investment in dependent companies (noninsurance) 117,341, ,732,994 1,597,103 1,348, ,865,395 5,915,125 1,075,799,887 Cash on Current Account and in hand Mortgage Loans Policy Loans Other Loans Outstanding Premiums Interest, dividends and rents accruing but not due Sundry Debtors Fixed Assets ASSETS Insurance Funds Claims admitted or intimated but not paid Amount due to Reinsurers Bank Loans and Overdrafts Deposits re policies Unpaid Policyholders dividends Other Liabilities NET LIABILITIES Paidup Share Capital NonAdmissible Assets Adjustment Unrealised Revaluation Reserves Retained Account Other LIABILITIES 28,922,091 2,817,241 88,840,689 3,066,966 31,190,376 17,133,617 96,078, ,731,055 1,449,580,440 LIABILITIES 998,376,623 43,121,032 34,468,383 8,178,337 6,611,419 17,371,236 53,258,391 1,161,385,421 12,000,000 (8,420,806) 5,870, ,170,555 52,574,337 1,449,580,440 REPORT ON INSURANCE AND PENSIONS 77

80 APPENDIX A Directors: Secretary: Auditors: Actuary: BANCASSURANCE CARIBBEAN LIMITED INCORPORATED 1977 D. CAMACHO; A. ARCHER FE LOPEZCOLLYMORE PRICE WATERHOUSECOOPERS M. BOSLAND Countries other than Trinidad and Tobago in which the Company writes business: NIL Summary of Balance Sheet in respect of Trinidad and Tobago Business as at 31st December, 2006 assets Investments: Fixed Deposits with Bank Fixed Deposits with Other Financial Institutions Securities guaranteed by the Gov t of T&T Other Caricom Government Securities Ordinary shares in T&T Companies Ordinary shares in nont&t Companies Bonds and Debentures in T&T Companies Bonds and Debentures in nont&t Companies Other Investments 5,793, ,610 16,913,463 7,112, ,180,972 6,257,932 4,160,837 6,245,108 31, ,045,085 Cash on Current Account and in hand Mortgage Loans Policy Loans Policy Loan Interest Accrued Amounts due from Policyholders Interest, dividends and rents accruing but not due Sundry Debtors Fixed Assets Other Assets ASSE TS 713, ,817 14,366, , ,721 2,165,347 18,541,684 27,501, ,540, ,484,216 liabilities Insurance Funds Insurance Funds Claims admitted or intimated but not paid Premiums paid in advance Bank Loans and Overdrafts Deposits re policies Other Liabilities NET LIABILITIES Paidup Share Capital Share Premium Account Non Admissible Assets Adjustment Other LIABILITIES 199,306,123 7,068,303 73, ,834 21,636,359 56,673, ,907,596 4,940,334 4,222,736 (45,049,501) 131,463, ,484, REPORT ON INSURANCE AND PENSIONS

81 SUMMARY OF BALANCE SHEETS OF INCORPORATED COMPANIES BANKERS INSURANCE COMPANY LIMITED INCORPORATED 1976 Directors: J. ALI; S. P. RAMQUAR; J. LALL; R. BACHAN; RODRIGUEZ AMAR; G. RAMNATH; ANDY JACK Secretary: R. BACHAN Auditors: CHANKA SEETERAM & CO. Countries other than Trinidad and Tobago in which the Company writes business: NIL Summary of Balance Sheet in respect of Trinidad and Tobago Business as at 31st March, 2006 assets Investments: Securities guaranteed by the Gov t of T&T Ordinary shares in T&T Companies Bonds and Debentures in T&T Companies Other Investments Cash on Current Account and in hand Outstanding Premiums Amounts due from other Insurance Companies Interest, dividends and rents outstanding Sundry Debtors Fixed Assets Other Assets ASSETS 3,030,000 33,971 4,250, ,896 8,008,867 8,490,558 6,709,737 2,779, ,813 (4,343) 9,083,930 1,617,691 36,887,188 liabilities Insurance Funds Claims admitted or intimated but not paid Claims Equalisation Reserve Amount due to Reinsurers Bank Loans and Overdrafts Other Liabilities 10,939,918 12,820,256 1,282,026 4,716, ,860 6,024,098 NET LIABILITIES Paidup Share Capital Retained Account Other LIABILITIES 35,896,126 6,890,002 (9,618,085) 3,719,142 36,887,188 REPORT ON INSURANCE AND PENSIONS 79

82 APPENDIX A Directors: Secretary: Auditors: Actuary: BRITISHAMERICAN INSURANCE COMPANY (TRINIDAD) LIMITED INCORPORATED 1977 L. DUPREY; B. BRANKER; R. FULLERTON; R. RAMNARINE; V. RAMLOGAN K. SOODEEN PRICEWATERHOUSECOOPERS TRIANGLE ACTUARIAL SERVICES, R LEISERBANKS Countries other than Trinidad and Tobago in which the Company writes business: NIL Summary of Balance Sheet in respect of Trinidad and Tobago business as at 31st December, 2006 assets Investments: Fixed Deposits with Bank Fixed Deposits with Other Financial Institutions Trinidad and Tobago Government Securities Securities guaranteed by the Gov t of T&T Other Caricom Government Securities Ordinary shares in T&T Companies Bonds and Debentures in T&T Companies 28,407,600 42,748,541 3,500,073 10,923,752 49,409, ,619,905 6,103, ,712,913 Cash on Current Account and in hand Mortgage Loans Policy Loans Other Loans Amounts due from Policyholders Interest, dividends and rents accruing but not due Sundry Debtors Fixed Assets ASSETS 8,440,489 51,890,256 23,680,870 2,104,596 1,089,340 9,701,888 74,850, ,806, ,277,696 liabilities Insurance Funds Claims admitted or intimated but not paid Claims Equalisation Reserve Premiums paid in advance Premiums paid in advance Other Liabilities 535,395,733 4,146, , ,120 5,474,384 NET LIABILITIES Paidup Share Capital Non Admissible Assets Adjustment Retained Account Other LIABILITIES 545,552,417 17,869,554 6,376,593 25,644, , ,277, REPORT ON INSURANCE AND PENSIONS

83 SUMMARY OF BALANCE SHEETS OF INCORPORATED COMPANIES CAPITAL INSURANCE LIMITED INCORPORATED 1968 Directors: Y. ALI; S. ALI; V. BELLAMY; F. ALIKANGALOO Secretary: F. NANAN Auditors: MADAN RAMNARINE & COMPANY Countries other than Trinidad and Tobago in which the Company writes business: Antigua Summary of Balance Sheet in respect of Trinidad and Tobago business as at 31st December, 2006 assets Investments: Fixed Deposits with Bank Fixed Deposits with Other Financial Institutions Securities guaranteed by the Gov t of T&T Ordinary shares in T&T Companies Bonds and Debentures in T&T Companies Investment in dependent companies (noninsurance) 2,574,357 1,050,000 3,602,300 21,398,112 46,094,555 5,050,000 79,769,324 Cash on Current Account and in hand Amounts due from Agents and subagents Amounts due from Policyholders Amounts due from other Insurance Companies Interest, dividends and rents accruing but not due Sundry Debtors Fixed Assets Other Assets ASSETS 1,745, , , ,000 1,028, ,925 9,781,726 39,732, ,757,871 liabilities 35,395,154 Insurance Funds Claims admitted or intimated but not paid Outstanding Commissions Amount due to Reinsurers Bank Loans and Overdrafts Other Liabilities 31,436,359 32,407,381 66, ,900 1,717,186 4,666,624 NET LIABILITIES Paidup Share Capital Unrealised Revaluation Reserves Retained Account Other LIABILITIES 70,886,592 9,750,000 11,264,290 30,496,849 12,360, ,757,871 REPORT ON INSURANCE AND PENSIONS 81

84 APPENDIX A CARIBBEAN INSURANCE COMPANY LIMITED INCORPORATED 1970 Directors: Secretary: Auditors: Actuary: J. SELLIER; J. HADEED; P. ABOUD; C. HADEED D. GONZALEZ R. RAMLAKHAN & COMPANY APEX CONSULTING LIMITED Countries other than Trinidad and Tobago in which the Company writes Business: Nil Summary of Balance Sheet in respect of Trinidad and Tobago Business as at 30th June, 2006 assets Investments: Fixed Deposits Ordinary shares in T&T Companies Ordinary shares in nont&t Companies 350, , ,305 1,609,835 Cash on Current Account and in hand Sundry Debtors Fixed Assets Other Assets ASSETS 5, ,539 7,409,922 18,272,684 27,461,350 liabilities Other Liabilities 2,163,907 NET LIABILITIES Paidup Share Capital Unrealised Revaluation Reserves Retained Accounts LIABILITIES 2,163,907 20,000,000 3,403,990 1,893,453 27,461, REPORT ON INSURANCE AND PENSIONS

85 SUMMARY OF BALANCE SHEETS OF INCORPORATED COMPANIES CARIBBEAN ATLANTIC LIFE INSURANCE COMPANY (TRINIDAD AND TOBAGO) LIMITED INCORPORATED 1977 Directors: Not Available Secretary: Not Available Auditors: Not Available Actuary: Not Available Countries other than Trinidad and Tobago in which the Company writes Business: Not Available Summary of Balance Sheet in respect of Trinidad and Tobago Business as at 31st December 2006 assets Investments: Trinidad and Tobago Government Securities Ordinary shares in T&T Companies Bonds and Debentures in T&T Companies 100,000 48,462 4,207,538 4,356,000 Cash on Current Account and in hand Mortgage Loans Policy Loans Policy Loan Interest Accrued Amounts due from Policyholders Interest, dividends and rents accruing but not due Sundry Debtors Other Assets ASSETS 221,991 3, ,961 50,086 7, ,526 26,849 11,158,268 16,738,615 liabilities Insurance Funds Claims admitted or intimated but not paid Premiums paid in advance Other Liabilities 13,299, ,836 2,549 3,273,667 NET LIABILITIES 16,738,615 LIABILITIES 16,738,615 REPORT ON INSURANCE AND PENSIONS 83

86 APPENDIX A COLONIAL FIRE AND GENERAL INSURANCE COMPANY LIMITED INCORPORATED 1955 Directors: R. Ng CHOW; A. THOMAS; W.P. HARRIS; H. GOON LUN; R.A. MAYERS; F.T. PREVATT Secretary: N. REIS Auditors: PRICEWATERHOUSECOOPERS Countries other than Trinidad and Tobago in which the Company writes business: Turks & Caicos Summary of Balance Sheet in respect of Trinidad and Tobago Business as at 31st December, 2006 assets Investments: Fixed Deposits with Other Financial Institutions Trinidad and Tobago Government Securities Other Caricom Government Securities Ordinary shares in T&T Companies Ordinary shares in nont&t Companies Bonds and Debentures in T&T Companies Investment in dependent companies (noninsurance) Other Investments 5,292,255 30,761, ,757 16,865,343 9,113,357 40,150,008 4,619,100 4,600, ,241,907 Cash on Current Account and in hand Amounts due from Agents and subagents Amounts due from Brokers Amounts due from Policyholders Amounts due from other Insurance Companies Interest, dividends and rents accruing but not due Sundry Debtors Fixed Assets Other Assets 16,839,784 1,444,765 18,828,891 2,039,614 20,611 1,387,320 15,294,373 21,320,399 16,613,401 ASSETS 206,031,065 liabilities Insurance Funds Claims admitted or intimated but not paid Outstanding Commissions Amount due to Reinsurers Bank Loans and Overdrafts Other Liabilities 55,947,640 25,611,689 2,074,536 24,367, ,367 40,231,101 NET LIABILITIES Paidup Share Capital Non Admissible Assets Adjustment Retained Account Other LIABILITIES 149,142,227 15,751,034 (7,501,271) 21,120,222 27,518, ,031, REPORT ON INSURANCE AND PENSIONS

87 SUMMARY OF BALANCE SHEETS OF INCORPORATED COMPANIES Directors: Secretary: N. PATRICK Auditors: Actuary: COLONIAL LIFE INSURANCE COMPANY (TRINIDAD) LIMITED INCORPORATED 1936 L. A. DUPREY; K. GARDIER; I. GARCIA; H. C. CHARLES; G. DZIAYK; S. DEONARINE; V. NAIPAUL PRICEWATERHOUSECOOPERS PRESCIENCE INSURANCE CONSULTANTS & ACTUARIES Countries other than Trinidad and Tobago in which the Company writes business: Cayman Islands Summary of Balance Sheet in respect of Trinidad and Tobago Business as at 31st December, 2006 assets Investments: Fixed Deposits with Bank Fixed Deposits with Other Financial Institutions Trinidad and Tobago Government Securities UK Government Securities Ordinary shares in T&T Companies Ordinary shares in nont&t Companies Preference shares in T&T Companies Preference shares in nont&t Companies Bonds and Debentures in T&T Companies Bonds and Debentures in nont&t Companies Cash on Current Account and in hand Mortgage Loans Policy Loans Amounts due from Brokers Amounts due from other Insurance Companies Interest, dividends and rents accruing but not due Sundry Debtors Fixed Assets Other Assets ASSETS 3,831,077,620 35,933, ,993,680 8,067,255 6,635,479, ,614,342 34,740 51,200, ,827, ,614,685 liabilities 12,655,842, ,846,198 77,381,156 86,660,775 (886,751) 2,200, ,966, ,229, ,687, ,436,136 14,836,364,376 Insurance Funds Premiums paid in advance Outstanding Commissions Amount due to Reinsurers Bank Loans and Overdrafts Annuities due and unpaid Other Liabilities 9,751,251,416 27,015,892 14,569,767 4,559, ,653,833 16,699,325 3,110,492,386 NET LIABILITIES Paidup Share Capital Non Admissible Assets Adjustment Unrealised Revaluation Reserves Retained Account Other LIABILITIES 13,807,242,470 7,500,000 (3,981,093,579) 4,619,865, ,481,583 63,368,228 14,836,364,376 REPORT ON INSURANCE AND PENSIONS 85

88 APPENDIX A Directors: Secretary: Auditors: Actuary: CUNA CARIBBEAN INSURANCE SOCIETY LIMITED INCORPORATED 1989 R. MC LAREN KELLMAN; J. TEJEDAVERA; S.J. ALBRECHT A. GOINDOO KPMG KR SERVICES LIMITED. Countries other than Trinidad and Tobago in which the Company writes business: Antigua & Barbuda, Dominica, Montserrat, St. Kitts and Nevis, St. Lucia. Summary of Balance Sheet in respect of Trinidad and Tobago business as at 31st December, 2006 assets Investments: Fixed Deposits with Bank Fixed Deposits with Other Financial Institutions Trinidad and Tobago Government Securities Securities guaranteed by the Gov t of T&T Other Caricom Government Securities Bonds and Debentures in T&T Companies Investment in dependent companies (insurance) Other Investments 8,691,351 6,487,034 23,612,622 6,299,541 22,395,529 25,000 8,754,545 76,265,622 Cash on Current Account and in hand Policy Loans Outstanding Premiums Amounts due from other Insurance Companies Interest, dividends and rents outstanding Sundry Debtors Fixed Assets Other Assets ASSETS 1,911,374 2,959,917 5,890 4,875,399 3,266,560 1,079,080 1,428,783 1,642,241 93,434,866 liabilities Insurance Funds Claims admitted or intimated but not paid Premiums paid in advance Amount due to Reinsurers Deposits re policies Unpaid Policyholders dividends Other Liabilities 51,413,311 19,315, ,647 1,118, ,871 4,573 6,285,670 NET LIABILITIES Paidup Share Capital Non Admissible Assets Adjustment Retained Account LIABILITIES 78,918,026 4,514,265 (1,122,562) 11,125,136 93,434, REPORT ON INSURANCE AND PENSIONS

89 SUMMARY OF BALANCE SHEETS OF INCORPORATED COMPANIES EXPORTIMPORT BANK OF TRINIDAD AND TOBAGO LIMITED INCORPORATED 1973 Directors: Secretary: Auditors: C. BENN; A V. HENRY; A. CATO; A. HADEED; L.LEQUAY; R. ABASALI G. LAUGHLIN; K. PARKER J.A. IBLE PANNELL KERR FOSTER Countries other than Trinidad and Tobago in which the Company writes business: Barbados, St. Lucia, Guyana, Grenada, St. Vincent, Jamaica, Antigua Summary of Balance Sheet in respect of Trinidad and Tobago Business as at 31st december, 2006 assets Investments: Fixed Deposits with Other Financial Institutions Securities guaranteed by the Gov t of T&T Bonds and Debentures in T&T Companies 6,534, ,845 1,000,000 7,747,395 Cash on Current Account and in hand Interest, dividends and rents outstanding Sundry Debtors Fixed Assets Other Assets ASSETS 3,407, , ,126,335 4,093,259 1,445, ,347,896 liabilities Insurance Funds Bank Loans and Overdrafts Other Liabilities 122, , ,851,679 NET LIABILITIES Paidup Share Capital Retained Account Other LIABILITIES 179,579,719 12,234,000 (3,552,796) 1,086, ,347,896 REPORT ON INSURANCE AND PENSIONS 87

90 APPENDIX A Directors: Secretary: Auditors: FURNESS ANCHORAGE GENERAL INSURANCE LIMITED INCORPORATED 1979 D. M RAJPAULSINGH; W. A. FERREIRA; J. G. FERREIRA; P. A. FERREIRA; J. MARTIN, R. OTWAY P. A. FERREIRA PRICEWATERHOUSE COOPERS Countries other than Trinidad and Tobago in which the Company writes business: NIL Summary of Balance Sheet in respect of Trinidad and Tobago Business as at 31st December, 2006 assets Investments: Fixed Deposits with Other Financial Institutions Trinidad and Tobago Government Securities Ordinary shares in T&T Companies Bonds and Debentures in T&T Companies 6,101,633 1,523, , ,063 8,566,066 Cash on Current Account and in hand Amounts due from Brokers Amounts due from Policyholders Amounts due from other Insurance Companies Interest, dividends and rents accruing but not due Interest, dividends and rents outstanding Sundry Debtors Fixed Assets ASSETS 1,798,966 2,380,939 9,890 32,066 49,968 2, ,318 12,978,145 liabilities Insurance Funds Claims admitted or intimated but not paid Amount due to Reinsurers Other Liabilities 2,622, ,707 1,768, ,078 NET LIABILITIES Paidup Share Capital Non Admissible Assets Adjustment Unrealised Revaluation Reserves Retained Account Other LIABILITIES 5,902,892 3,300,000 (88,769) 332,841 2,178,277 1,352,903 12,978, REPORT ON INSURANCE AND PENSIONS

91 SUMMARY OF BALANCE SHEETS OF INCORPORATED COMPANIES G.T.M. FIRE INSURANCE COMPANY LIMITED INCORPORATED 1977 Directors: L. SUMADH; V. RAMLOGAN; D. RAMLAL; L. DHANOO Secretary: L. LOPEZ Auditors: L DE NOBRIGA & COMPANY Countries other than Trinidad and Tobago in which the Company writes business: NIL Summary of Balance Sheet in respect of Trinidad and Tobago business as at 31st December, 2006 assets Investments: Fixed Deposits with Other Financial Institutions Trinidad and Tobago Government Securities Ordinary shares in T&T Companies Ordinary shares in nont&t Companies Bonds and Debentures in T&T Companies Investment in dependent companies (noninsurance) Other Investments 3,300,000 3,329, , ,891 5,236,789 2,127,747 1,255,561 15,983,195 Cash on Current Account and in hand Amounts due from Agents and subagents Amounts due from Brokers Amounts due from other Insurance Companies Interest, dividends and rents accruing but not due Sundry Debtors Fixed Assets ASSETS 2,166, ,120 4,927,617 1,674, , ,469 14,975,936 41,613,581 liabilities Insurance Funds Claims admitted or intimated but not paid Claims Equalisation Reserve Amount due to Reinsurers Bank Loans and Overdrafts Other Liabilities NET LIABILITIES Paidup Share Capital Non Admissible Assets Adjustment Unrealised Revaluation Reserves Retained Account Other LIABILITIES 14,993,611 5,974,270 1,196,069 3,866,023 5,586,615 1,674,803 33,291,391 5,135,176 (45,147,994) 7,122,938 34,123,593 7,088,477 41,613,581 REPORT ON INSURANCE AND PENSIONS 89

92 APPENDIX A Directors: Secretary: Auditors: GUARDIAN GENERAL INSURANCE LIMITED INCORPORATED 1973 S. WILSON; I. AHAMAD; R. ESPINET; R.W. O BRIEN; N. LOK JACK; A. LANCASTER; DAWN SEEPERSAD PRICEWATERHOUSECOOPERS Countries other than Trinidad and Tobago in which the Company writes Business: Barbados; Grenada Summary of Balance Sheet in respect of Trinidad and Tobago business as at 31st December, 2006 assets Investments: Fixed Deposits with Bank Fixed Deposits with Other Financial Institutions Trinidad and Tobago Government Securities Securities guaranteed by the Gov t of T&T Other Caricom Government Securities Ordinary shares in T&T Companies Bonds and Debentures in T&T Companies Bonds and Debentures in nont&t Companies Investment in dependent companies (insurance) Other Investments 29,271, ,192 22,246,108 54,861,155 10,691,514 28,839,970 9,752,951 5,752,406 37,036,042 2,310, ,869,471 Cash on Current Account and in hand Amounts due from Agents and subagents Amounts due from Brokers Amounts due from Policyholders Amounts due from other Insurance Companies Sundry Debtors ASSETS 42,016,048 7,101,722 22,184, , , ,590, ,786,694 liabilities Insurance Funds Claims admitted or intimated but not paid Amount due to Reinsurers Bank Loans and Overdrafts Other Liabilities 81,760, ,150,890 46,960, ,710 29,212,728 NET LIABILITIES Paidup Share Capital Non Admissible Assets Adjustment Retained Account Other LIABILITIES 293,340,779 1,195,780,006 (1,226,465,041) 70,507,928 40,623, ,786, REPORT ON INSURANCE AND PENSIONS

93 SUMMARY OF BALANCE SHEETS OF INCORPORATED COMPANIES GUARDIAN LIFE OF THE CARIBBEAN LIMITED INCORPORATED 1981 Directors: N. LOK JACK; R. O BRIEN; R. TEWARI; S. WILSON; S. AHAMAD Secretary: K. ABDULLA Auditors: PRICEWATERHOUSECOOPERS Actuary: M. BOSLAND Countries other than Trinidad and Tobago in which the Company writes business: St Vincent & The Grenadines Summary of Balance Sheet in respect of Trinidad and Tobago business as at 31st December, 2006 assets Investments: Fixed Deposits with Bank Fixed Deposits with Other Financial Institutions Trinidad and Tobago Government Securities Securities guaranteed by the Gov t of T&T Other Caricom Government Securities Ordinary shares in T&T Companies Ordinary shares in nont&t Companies Preference shares in T&T Companies Bonds and Debentures in T&T Companies Bonds and Debentures in nont&t Companies Other Investments 128,823, ,402,853 15,217,546 77,702, ,885,953 1,463,068, ,310,150 36,770, ,647, ,828,675 3,800,850 2,924,458,174 Cash on Current Account and in hand Mortgage Loans Policy Loans Policy Loan Interest Accrued Other Loans Amounts due from Policyholders Amounts due from other Insurance Companies Interest, dividends and rents outstanding Sundry Debtors Fixed Assets Other Assets ASSETS 15,676, ,847,938 20,044, ,397 9,081,206 48,607,692 37,693,760 31,027, ,089, ,536,169 39,493,458 3,991,483,899 liabilities 3,823,030,282 Insurance Funds Claims admitted or intimated but not paid Premiums paid in advance Outstanding Commissions Amount due to Reinsurers Deposits re policies Accrued interest on policies Other Liabilities 3,339,929,822 77,359, ,915 17,146,052 5,169,649 26,664,872 4,755, ,238,240 NET LIABILITIES Paidup Share Capital NonAdmissible Assets Adjustment Unrealised Revaluation Reserves Retained Account Other LIABILITIES 3,709,101,593 53,349,005 (32,456,472) 18,512,802 25,688, ,288,324 3,991,483,899 REPORT ON INSURANCE AND PENSIONS 91

94 APPENDIX A GULF INSURANCE LIMITED INCORPORATED 1974 Directors: G. LEEINNISS; E. COLLIER; C. JONES; M. POON TIP; M. SINGH; J. DALGLEISH; P. BUXO Secretary: LEON WILLIAMS Auditors: KPMG CHARTERED ACCOUNTANTS Countries other than Trinidad and Tobago in which the Company writes business: Anguilla, British Virgin Islands, Dominica, Grenada, St. Kitts and Nevis, St. Lucia, St Maarten, US Virgin Islands, Turks & Caicos, Cayman Islands Summary of Balance Sheet in respect of Trinidad and Tobago Business as at 31st March, 2006 assets Investments: Fixed Deposits with Bank Fixed Deposits with Other Financial Institutions Trinidad and Tobago Government Securities Securities guaranteed by the Gov t of T&T Ordinary shares in T&T Companies Ordinary shares in nont&t Companies Investment in dependent companies (insurance) Investment in dependent companies (noninsurance) 708,235 4,600,000 5,100, ,000 12,903,201 4,404,522 1,153,711 18,880,281 48,564,950 Cash on Current Account and in hand Amounts due from Agents and subagents Amounts due from Brokers Amounts due from Policyholders Amounts due from other Insurance Companies Fixed Assets Other Assets ASSETS 7,415,244 1,234,069 3,085,173 1,851,104 1,364,911 20,143,278 (35,592,876) 48,065,853 liabilities Insurance Funds Claims admitted or intimated but not paid Amount due to Reinsurers Other Liabilities 7,590,177 10,594,698 (33,149,770) 5,533,422 NET LIABILITIES Paidup Share Capital Retained Account Other LIABILITIES (9,431,473) 13,500,000 19,571,364 24,425,962 48,065, REPORT ON INSURANCE AND PENSIONS

95 SUMMARY OF BALANCE SHEETS OF INCORPORATED COMPANIES Directors: Secretary: Auditors: MARITIME GENERAL INSURANCE COMPANY LIMITED INCORPORATED 1978 J.H. SMITH; J. SOHUN; O. CAMPS THE MARITIME FINANCIAL GROUP LIMITED PANNELL KERR FORSTER Companies other than Trinidad and Tobago in which the Company writes business: NIL Summary of Balance Sheet in respect of Trinidad and Tobago Business as at 31st December, 2006 assets Investments: Fixed Deposits with Bank Fixed Deposits with Other Financial Institutions Securities guaranteed by the Gov t of T&T Ordinary shares in T&T Companies Bonds and Debentures in T&T Companies Cash on Current Account and in hand Sundry Debtors Fixed Assets Other Assets ASSETS 47,701,952 64,893,969 24,636,309 3,557,713 37,640, ,430,798 4,897,947 16,485,003 1,140,016 2,107, ,060,773 liabilities Insurance Funds Claims admitted or intimated but not paid Outstanding Commissions Amount due to Reinsurers Bank Loans and Overdrafts Other Liabilities 34,826,327 51,126,959 1,668,250 11,931,254 1,321,986 18,732,425 NET LIABILITIES Paidup Share Capital Retained Account Other LIABILITIES 119,607,201 4,965,000 50,982,860 27,505, ,060,773 REPORT ON INSURANCE AND PENSIONS 93

96 APPENDIX A Directors: Secretary: Auditors: Actuary: MARITIME LIFE (CARIBBEAN) LIMITED INCORPORATED 1971 J.H. SMITH; J. SOHUN; L. ALFONSO; T. TANG THE MARITIME FINANCIAL GROUP LIMITED PANNELL KERR FORSTER M. CHONG TAIBELL Countries other than Trinidad and Tobago in which the Company writes business: NIL Summary of Balance Sheet in respect of Trinidad and Tobago Business as at 31st December, 2006 assets Investments: Fixed Deposits with Bank Fixed Deposits with Other Financial Institutions Trinidad and Tobago Government Securities Securities guaranteed by the Gov t of T&T Ordinary shares in T&T Companies Preference shares in T&T Companies Bonds and Debentures in T&T Companies Investment in dependent companies (insurance) Investment in dependent companies (noninsurance) 171,237,234 61,287, ,559,191 11,605,000 71,043,356 9,817 55,761,500 24,848,300 65,939,023 Cash on Current Account and in hand Mortgage Loans Policy Loans Amounts due from Policyholders Amounts due from other Insurance Companies Interest, dividends and rents outstanding Sundry Debtors Fixed Assets ASSETS 647,291, ,230 51,804,219 46,682,353 12,621,565 6,699,791 6,064,135 17,611, ,881,877 1,009,888,707 liabilities Insurance Funds Premiums paid in advance Amount due to Reinsurers Bank Loans and Overdrafts Provisions for unreported claims Unpaid Policyholders dividends Other Liabilities 818,858, ,984 1,423,861 5,737,310 9,745,202 7,009,569 39,879,498 NET LIABILITIES Paidup Share Capital Share Premium Account Retained Account Other LIABILITIES 882,787,978 10,871,387 5,712,341 26,796,214 83,720,787 1,009,888, REPORT ON INSURANCE AND PENSIONS

97 SUMMARY OF BALANCE SHEETS OF INCORPORATED COMPANIES MEGA INSURANCE COMPANY LIMITED INCORPORATED 1980 Directors: W. WINCHESTER; B. DOYLE; E. CHEONG; I. BEHARRY; K. CHOLMONDELEY; C. GILL; P. GILLETTE; K. ISAACS; H. RUSSELL; A. TOMYEW Secretary: P. ALEONG Auditors: PRICEWATERHOUSECOOPERS Actuary: PRESCIENCE INSURANCE CONSULTING AND ACTUARIES INC. Countries other than Trinidad and Tobago in which the Company writes business: NIL Summary of Balance Sheet in respect of Trinidad and Tobago Business as at 31st December, 2006 assets Investments: Fixed Deposits with Bank Trinidad and Tobago Government Securities Ordinary shares in T&T Companies Bonds and Debentures in T&T Companies Investment in dependent companies (insurance) Cash on Current Account and in hand Mortgage Loans Policy Loans Policy Loan Interest Accrued Amounts due from Policyholders Amounts due from other Insurance Companies Interest, dividends and rents outstanding Sundry Debtors Fixed Assets Other Assets ASSETS 33,472,065 11,407,822 19,507,085 20,043,796 4,337,891 88,768,659 3,206,020 1,916,214 7,174, ,579 95,156 4,158, ,432 1,932,799 55,529,900 9,678, ,515,659 liabilities Insurance Funds Claims admitted or intimated but not paid Premiums paid in advance Outstanding Commissions Amount due to Reinsurers Deposits re policies Other Liabilities 139,857,992 3,781,116 99, , , ,393 5,920,102 NET LIABILITIES Paidup Share Capital Non Admissible Assets Adjustment Retained Account Other LIABILITIES 150,985,554 36,465,357 (13,457,045) (38,613,257) 38,135, ,515,659 REPORT ON INSURANCE AND PENSIONS 95

98 APPENDIX A MOTOR AND GENERAL INSURANCE COMPANY LIMITED INCORPORATED 1959 Directors: K. SANOWAR; I. INNISS, W. MURRAY Secretary: I. INNISS Auditors: BOB GOPEE AND ASSOCIATES Countries 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 Tobago Business as at 31st December, 2006 assets Investments: Fixed Deposits with Bank Trinidad and Tobago Government Securities Ordinary shares in T&T Companies 7,182,301 5,843,373 9,932,279 22,957,953 Sundry Debtors Fixed Assets ASSETS 929,955 37,895,006 61,782,914 liabilities Insurance Funds Claims admitted or intimated but not paid Bank Loans and Overdrafts Other Liabilities NET LIABILITIES Paidup Share Capital Unrealised Revaluation Reserves Retained Account Other LIABILITIES 6,953,317 14,316,801 3,300,628 12,386,910 36,957,656 13,374,880 7,415,601 (22,142,234) 26,177,013 61,782, REPORT ON INSURANCE AND PENSIONS

99 SUMMARY OF BALANCE SHEETS OF INCORPORATED COMPANIES MOTOR ONE INSURANCE COMPANY LIMITED INCORPORATED 1976 Directors: D. RAMLAL; S. RAMDATH; V. RAMLOGAN; L. AYOUNG; L. DHANOO Secretary: S. DHANOO Auditors: L. De NOBRIGA & COMPANY Countries other than Trinidad and Tobago in which the Company writes business: NIL Summary of Balance Sheet in respect of Trinidad and Tobago Business as at 31st December, 2006 assets Investments: Fixed Deposits with Bank Trinidad and Tobago Government Securities Securities guaranteed by the Gov t of T&T Other Foreign Government Securities Ordinary shares in nont&t Companies Investment in dependent companies (noninsurance) 335,835 5,116,500 1,549,226 4,485, ,762 2,411,695 14,182,018 Cash on Current Account and in hand Policy Loan Interest Accrued Amounts due from Agents and subagents Interest, dividends and rents accruing but not due Sundry Debtors Fixed Assets Other Assets ASSETS 1,877,811 1,877, , , ,701 9,879,098 62,960 29,467,215 liabilities Insurance Funds Claims admitted or intimated but not paid Amount due to Reinsurers Bank Loans and Overdrafts Other Liabilities 10,936,827 2,352,265 1,712,420 2,831, ,848 NET LIABILITIES Paidup Share Capital Unrealised Revaluation Reserves Retained Account Other LIABILITIES 18,489,223 4,509,200 1,253,187 1,054,638 4,160,967 29,467,215 REPORT ON INSURANCE AND PENSIONS 97

100 APPENDIX A NATIONWIDE INSURANCE COMPANY LIMITED INCORPORATED 1973 Directors: P. DOWNESGRANT; R. TRESTRAIL; J. A. BETHELL; T. MARTINS; A. ALEONG Secretary: C. PASEA Auditors: PRICEWATERHOUSECOOPERS Actuary: S. GOULET Countries other than Trinidad and Tobago in which the company writes business: NIL Summary of Balance Sheet in respect of Trinidad and Tobago business as at 31st December, 2006 assets Investments: Fixed Deposits with Bank Fixed Deposits with Other Financial Institutions Trinidad and Tobago Government Securities Securities guaranteed by the Gov t of T&T Other Foreign Government Securities Ordinary shares in T&T Companies 3,072, ,884 12,665,890 7,006,892 7,174,605 13,390,691 Cash on Current Account and in hand Mortgage Loans Policy Loans Policy Loan Interest Accrued Amounts due from Policyholders Amounts due from other Insurance Companies Interest, dividends and rents accruing but not due Interest, dividends and rents outstanding Sundry Debtors Fixed Assets ASSETS 43,441,311 11,768, ,683 5,392, ,488 39, , , ,601 23,794 7,287,537 70,630,931 liabilities Insurance Funds Claims admitted or intimated but not paid Outstanding Commissions Amount due to Reinsurers Deposits re policies Other Liabilities NET LIABILITIES Paidup Share Capital Share Premium Account Unrealised Revaluation Reserves Retained Account LIABILITIES 42,959,172 1,241,250 60, , ,361 9,412,396 54,786,472 3,394,587 44,861 7,921,199 4,483,812 70,630, REPORT ON INSURANCE AND PENSIONS

101 SUMMARY OF BALANCE SHEETS OF INCORPORATED COMPANIES N.E.M (WEST INDIES) INSURANCE LIMITED INCORPORATED 1960 Directors: A. LANCASTER; N. LOK JACK; S. WILSON; I. AHAMAD; R. ESPINET; R. W. O BRIEN Secretary: DAWN SEEPERSAD Auditors: PRICEWATERHOUSECOOPERS Countries 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 Islands Summary of Balance Sheet in respect of Trinidad and Tobago business as at 31st December, 2006 assets Investments: Fixed Deposits with Bank Securities guaranteed by the Gov t of T&T Other Caricom Government Securities Ordinary shares in T&T Companies Bonds and Debentures in T&T Companies Investment in dependent companies (insurance) Other Investments Cash on Current Account and in hand Other Loans Amounts due from Agents and subagents Interest, dividends and rents accruing but not due Sundry Debtors ASSETS 22,127, ,600 4,299,634 1,334, ,354 21,585,152 27,628,600 77,938,148 16,049,868 4,480,764 (4,762,403) 3,441,001 51,046, ,193,395 liabilities Insurance Funds Amount due to Reinsurers Other Liabilities 27,538 26,658,336 (11,880,601) NET LIABILITIES Paidup Share Capital NonAdmissible Assets Adjustment Retained Account Other LIABILITIES 14,805,273 37,758,352 (20,440,737) 100,851,174 15,219, ,193,395 REPORT ON INSURANCE AND PENSIONS 99

102 APPENDIX A THE REINSURANCE COMPANY OF TRINIDAD AND TOBAGO LIMITED INCORPORATED 1975 Directors: R. LAKHAN NARACE; D. LALOR; P. LALOR; D. MITCHELL; F. AL RAWI; R. TIM KEE; D. O BRIEN Secretary: A. WEST SMITH Auditors: HYACINTH SIMMS Actuary: NIL Countries other than Trinidad and Tobago in which the company writes business: NIL Summary of Balance Sheet in respect of Trinidad and Tobago business as at 31st December, 2006 assets Investments: Trinidad and Tobago Government Securities Other Foreign Government Securities Ordinary shares in T&T Companies Ordinary shares in nont&t Companies Bonds and Debentures in T&T Companies 2,301,451 6,407,267 4,381,910 4,309,675 1,500,000 18,900,303 Cash on Current Account and in hand Amounts due from Brokers Amounts due from other Insurance Companies Sundry Debtors Fixed Assets Other Assets ASSETS 4,494,224 4,880,911 5,283,063 73,101 1,420,704 3,384,461 38,436,767 liabilities Insurance Funds Claims admitted or intimated but not paid Amount due to Reinsurers Other Liabilities 11,203,441 13,038,952 4,357,848 5,587,109 NET LIABILITIES Paidup Share Capital Share Premium Account Non Admissible Assets Adjustment Retained Account Other LIABILITIES 34,187,350 20,333,333 1,929,166 (11,997,035) (8,152,506) 2,136,459 38,436, REPORT ON INSURANCE AND PENSIONS

103 SUMMARY OF BALANCE SHEETS OF INCORPORATED COMPANIES ROYAL CARIBBEAN INSURANCE LIMITED INCORPORATED 1976 Directors: R. ESPINET; FE LOPEZCOLLYMORE Secretary: FE LOPEZCOLLYMORE; KAREN KELSHALL LEE Auditors: PRICEWATERHOUSECOOPERS Countries other than Trinidad and Tobago in which the company writes business: NIL Summary of Balance Sheet in respect of Trinidad and Tobago business as at 31st December, 2006 assets Investments: Trinidad and Tobago Government Securities Ordinary shares in T&T Companies Bonds and Debentures in nont&t Companies 2,129, ,642 1,717,147 4,046,381 Cash on Current Account and in hand Interest, dividends and rents accruing but not due Sundry Debtors ASSETS 127, ,192 14,698,696 18,983,832 liabilities Insurance Funds Claims admitted or intimated but not paid Amount due to Reinsurers Other Liabilities 4,424,431 1,408,826 4,429 NET LIABILITIES Paidup Share Capital NonAdmissible Assets Adjustment Retained Account Other LIABILITIES 5,837,686 3,000,000 (399,618) 6,830,474 3,715,289 18,983,832 REPORT ON INSURANCE AND PENSIONS 101

104 APPENDIX A Directors: Secretary: Auditors: SAGICOR GENERAL INSURANCE INCORPORATED INCORPORATED 2005 D. MILLER; M.J.K. PRITCHARD; I. ALLEYNE; D. DEANE; M.P. DOWNESGRANT; A. LA FOND; A.E. THOMAS A.C. HAZZARD PRICEWATERHOUSECOOPERS Countries 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 Tobago business as at 31st December, 2006 assets Investments: Fixed Deposits with Bank Fixed Deposits with Other Financial Institutions Trinidad and Tobago Government Securities Bonds and Debentures in T&T Companies 7,780, ,791 23,759,246 1,500,000 33,612,759 Cash on Current Account and in hand Amounts due from Agents and subagents Amounts due from Brokers Amounts due from Policyholders Amounts due from other Insurance Companies Interest, dividends and rents outstanding Sundry Debtors Fixed Assets ASSETS 1,098,855 5,781,683 9,866,948 2,424, ,949 1,109,455 7,639,099 2,062,246 63,826,484 liabilities Insurance Funds Claims admitted or intimated but not paid Amount due to Reinsurers Other Liabilities 28,780,103 24,659,156 7,606,739 4,268,567 NET LIABILITIES Non Admissible Assets Adjustment LIABILITIES 65,314,565 (1,488,081) 63,826, REPORT ON INSURANCE AND PENSIONS

105 SUMMARY OF BALANCE SHEETS OF INCORPORATED COMPANIES SAGICOR LIFE INCORPORATED INCORPORATED 2002 Directors: J.A. BETHELL; D.W. ALLAN; O.W. JORDAN; M. CHEVANNESCAMPBELL; S.D.R. Mc NAMARA; T.A. MARTINS; A. ALEONG; H. Mc D BECKLES; D.D. MILLER; W.P. LUCIESMITH; C.D. de CAIRES; JOYCE E DEAR Secretary: S. OSBORNE Auditors: PRICEWATERHOUSECOOPERS Actuary: S. GOULET Countries 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 Tobago business as at 31st December, 2006 assets Investments: Fixed Deposits with Bank Fixed Deposits with Other Financial Institutions Trinidad and Tobago Government Securities Securities guaranteed by the Gov t of T&T Other Caricom Government Securities Other Foreign Government Securities Ordinary shares in T&T Companies Ordinary shares in nont&t Companies Preference shares in T&T Companies Bonds and Debentures in T&T Companies Bonds and Debentures in nont&t Companies Investment in dependent companies (insurance) Investment in dependent companies (noninsurance) Cash on Current Account and in hand Mortgage Loans Policy Loans Policy Loan Interest Accrued Other Loans Amounts due from Policyholders Amounts due from other Insurance Companies Interest, dividends and rents accruing but not due Sundry Debtors Fixed Assets Other Assets ASSETS 133,689,440 41,239, ,362, ,112, ,957,943 28,915, ,886,967 68,869,554 3,472, ,907, ,810,113 9,675,162 88,529,068 1,405,428,897 14,041, ,298,189 22,019, ,017 32,410,618 8,856,533 15,539,553 18,758, ,502, ,484,755 18,848,595 2,478,666,960 Insurance Funds Claims admitted or intimated but not paid Outstanding Commissions Amount due to Reinsurers Bank Loans and Overdrafts Unpaid Policyholders dividends Other Liabilities NET LIABILITIES liabilities 2,146,971,038 27,116,116 3,070,550 6,812,034 1,758,360 2,772,645 57,874,971 2,246,375,714 Non Admissible Assets Adjustment Unrealised Revaluation Reserves Retained Account LIABILITIES (2,124,820) 222,700,381 11,715,685 2,478,666,960 REPORT ON INSURANCE AND PENSIONS 103

106 APPENDIX A SCOTIA LIFE INSURANCE LIMTED INCORPORATED 2003 Directors: R. YOUNG; T. FARRELL; O. ZIMMERMAN Secretary: B. JAMES Auditors: KPMG CHARTERED ACCOUNTANTS Actuary: RICHARD LABELLE Countries other than Trinidad and Tobago in which the Company writes Business: NIL Summary of Balance Sheet in respect of Trinidad and Tobago business as at 31st December, 2006 assets Investments: Fixed Deposits with Bank Fixed Deposits with Other Financial Institutions Trinidad and Tobago Government Securities Securities guaranteed by the Gov t of T&T Ordinary shares in T&T Companies Bonds and Debentures in T&T Companies 7,500,000 8,825,590 11,368,885 86,253,122 1,526,771 6,003, ,478,217 Cash on Current Account and in hand Mortgage Loans Amounts due from Policyholders Interest, dividends and rents accruing but not due Sundry Debtors ASSETS 6,057,430 72,871,734 23,782 3,346,747 36, ,814,571 liabilities Insurance Funds Claims admitted or intimated but not paid Premiums paid in advance Deposits re policies Other Liabilities 133,031,880 86, ,457 66,410 4,462,216 NET LIABILITIES Paidup Share Capital Retained Account LIABILITIES 137,827,740 60,000,000 5,986, ,814, REPORT ON INSURANCE AND PENSIONS

107 SUMMARY OF BALANCE SHEETS OF INCORPORATED COMPANIES Directors: Secretary: Auditors: Actuary: SUN LIFE ASSURANCE OF CANADA INCORPORATED 1952 J. 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. STOUGHTON J.M. WILSON DELOITTE & TOUCHE LLP R.W. WILSON Countries 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 Tobago Business as at 31st December, 2006 assets Investments: Trinidad and Tobago Government Securities 1,031,500 1,031,500 Cash on Current Account and in hand Policy Loans Interest, dividends and rents accruing but not due ASSETS 61, ,692 28,097 1,336,249 liabilities Insurance Funds Claims admitted or intimated but not paid Deposits re policies Other Liabilities 465, , , ,387 NET LIABILITIES LIABILITIES 1,336,249 1,336,249 REPORT ON INSURANCE AND PENSIONS 105

108 APPENDIX A TATIL LIFE ASSURANCE LIMITED INCORPORATED 1977 Directors: ANTHONY N. SABGA; RAY A. SUMAIRSINGH; GERRY BROOKS; VICTOR HERDE; DAVID CLARKE; MICHAEL MOSES Secretary: M.MUSA IBRAHIM Auditors: ERNST AND YOUNG Actuary: APEX CONSULTING LIMITED Countries other than Trinidad and Tobago in which the Company writes business: Nil Summary of Balance Sheet in respect of Trinidad and Tobago Business as at 31st December, 2006 assets Investments: Fixed Deposits with Bank Trinidad and Tobago Government Securities Securities guaranteed by the Gov t of T&T Other Caricom Government Securities Ordinary shares in T&T Companies Ordinary shares in nont&t Companies Preference shares in T&T Companies Bonds and Debentures in T&T Companies Bonds and Debentures in nont&t Companies 74,009,280 47,671, ,908,281 16,993, ,288, ,366,890 1,204, ,579, ,379, ,402,136 Cash on Current Account and in hand Mortgage Loans Policy Loans Policy Loan Interest Accrued Amounts due from Policyholders Amounts due from other Insurance Companies Interest, dividends and rents accruing but not due Sundry Debtors Fixed Assets Other Assets ASSETS 2,625,282 54,706,065 14,518,417 1,336, ,170 4,095,009 46,364,730 3,740,732 22,000,000 37,165,426 1,150,583,084 liabilities Insurance Funds Claims admitted or intimated but not paid Premiums paid in advance Outstanding Commissions Amount due to Reinsurers Deposits re policies Other Liabilities 961,273,218 15,546,521 2,636, ,487 2,550,146 4,864,469 61,723,469 NET LIABILITIES Paidup Share Capital Non Admissible Assets Adjustment Unrealised Revaluation Reserves LIABILITIES 1,049,025,864 3,000,000 (557,014) 99,114,234 1,150,583, REPORT ON INSURANCE AND PENSIONS

109 SUMMARY OF BALANCE SHEETS OF INCORPORATED COMPANIES THE BEACON INSURANCE COMPANY LIMITED INCORPORATED 1970 Directors: G.S.HADEED; P. BRYAN; R. LEWIS; L. GONSALVES; F. DE NOBRIGA Secretary: D. GONZALEZ Auditors: PRICEWATERHOUSECOOPERS Actuary: ECKLER PARTNERS, PRESCIENCE INSURANCE CONSULTANTS & ACTUARIES Countries other than Trinidad and Tobago in which the Company writes Business: Barbados, Commonwealth of Dominica, Grenada, St Lucia, St. Vincent and The Grenadines. Summary of Balance Sheet in respect of Trinidad and Tobago Business as at 30th June, 2006 assets Investments: Fixed Deposits with Bank Securities guaranteed by the Gov t of T&T UK Government Securities Other Foreign Government Securities Ordinary shares in T&T Companies Ordinary shares in nont&t Companies Preference shares in T&T Companies Bonds and Debentures in T&T Companies Cash on Current Account and in hand Mortgage Loans Loans on Debentures of Shares Amounts due from Brokers Amounts due from Policyholders Amounts due from other Insurance Companies Sundry Debtors Fixed Assets Other Assets ASSETS 14,220,073 11,308, ,596 1,205,969 10,358,604 5,292,778 2,175,353 3,915,100 49,440,473 7,848,968 1,598,918 1,160,401 7,091,346 3,572,432 2,745,073 1,195,797 1,896,735 9,454,290 86,004,433 liabilities Insurance Funds Claims admitted or intimated but not paid Amount due to Reinsurers Bank Loans and Overdrafts Other Liabilities 24,644,210 17,333,548 11,383, ,521 6,753,495 NET LIABILITIES Paidup Share Capital Non Admissible Assets Adjustment Unrealised Revaluation Reserves Retained Account Other LIABILITIES 60,974,881 10,000,000 (2,653,075) 4,228,765 8,068,930 5,384,932 86,004,433 REPORT ON INSURANCE AND PENSIONS 107

110 APPENDIX A THE DEMERARA LIFE ASSURANCE COMPANY OF TRINIDAD AND TOABGO LIMITED INCORPORATED 1970 Directors: P. GILLETTE; R. FIELDS; K. CHOLMONDELEY; H. RUSSELL; C. NIMBLETT; W. WINCHESTER; C. GILL Secretary: G. DE MATAS Auditors: PRICEWATERHOUSECOOPERS Actuary: PRESCIENCE INSURANCE CONSULTANTS & ACTUARIES Countries other than Trinidad and Tobago in which the Company writes Business: Nil Summary of Balance Sheet in respect of Trinidad and Tobago Business as at 30th June, 2006 assets Investments: Fixed Deposits with Bank Fixed Deposits with Other Financial Institutions Securities guaranteed by the Gov t of T&T Ordinary shares in T&T Companies Ordinary shares in nont&t Companies Bonds and Debentures in T&T Companies Cash on Current Account and in hand Amounts due from Policyholders Amounts due from other Insurance Companies Sundry Debtors Fixed Assets Other Assets ASSETS 3,280,067 41,267 12,493,848 11,066, ,460 4,994,258 32,054,175 3,902,689 7,876,573 4,514 8,139,331 6,702,771 33,598,936 92,278,989 liabilities Insurance Funds Claims admitted or intimated but not paid Claims Equalisation Reserve Amount due to Reinsurers Other Liabilities 15,580,183 9,361,346 1,872,271 18,939,491 11,594,881 NET LIABILITIES Paidup Share Capital Share Premium Account Non Admissible Assets Adjustment Unrealised Revaluation Reserves Retained Account Other LIABILITIES 57,348,172 17,418, ,242 (399,599) 14,455,355 2,256,874 1,000,000 92,278, REPORT ON INSURANCE AND PENSIONS

111 SUMMARY OF BALANCE SHEETS OF INCORPORATED COMPANIES THE GREAT NORTHERN INSURANCE COMPANY LIMITED INCORPORATED 1969 Directors: W. ALEXANDER; Secretary: D. PERSADNARINE Auditors: BERTRAM HADAWAY AND COMPANY Countries other than Trinidad and Tobago in which the Company writes business: NIL Summary of Balance Sheet in respect of Trinidad and Tobago business as at 30th September, 2006 assets Investments: Fixed Deposits Trinidad and Tobago Government Securities Ordinary shares in T&T Companies Cash on Current Account and in hand Outstanding Premiums Amounts due from other Insurance Companies Interest, dividends and rents accruing but not due Sundry Debtors Fixed Assets ASSETS 6,293,670 2,076, ,949 8,923,731 1,061, , ,226 72, ,111 2,375,962 13,589,336 liabilities Insurance Funds Claims admitted or intimated but not paid Amount due to Reinsurers Bank Loans and Overdrafts Other 3,769,679 2,089, ,610 1,418,696 1,444,095 NET LIABILITIES Paidup Share Capital Retained Account Other LIABILITIES 8,982,171 2,173,000 1,992, ,495 13,589,336 REPORT ON INSURANCE AND PENSIONS 109

112 APPENDIX A THE NEW INDIA ASSURANCE COMPANY (TRINIDAD AND TOBAGO) LIMITED INCORPORATED 1976 Directors: Secretary: Auditors: B. CHAKRABARTI; S. GOPALAN; K. SIRJU; G. CHATURVEDI; J. SIEWRATTAN; H. BROOMES ; A. SEKAR ; J. JOSEPH H.S SERVICES LIMITED KPMG CHARTERED ACCOUNTANTS Countries other than Trinidad and Tobago in which the Company writes business: Dominica, St. Lucia, St. Maarten Summary of Balance Sheet in respect of Trinidad and Tobago business as at 31st December, 2006 assets Investments: Fixed Deposits with Bank Fixed Deposits with Other Financial Institutions Securities guaranteed by the Gov t of T&T Ordinary shares in T&T Companies Ordinary shares in nont&t Companies Bonds and Debentures in T&T Companies 3,280,067 41,267 12,493,848 11,066, ,460 4,994,258 32,054,175 Cash on Current Account and in hand Amounts due from Policyholders Amounts due from other Insurance Companies Sundry Debtors Fixed Assets Other Assets ASSETS 3,902,689 7,876,573 4,514 8,139,331 6,702,771 33,598,936 92,278,989 liabilities Insurance Funds Claims admitted or intimated but not paid Claims Equalisation Reserve Amount due to Reinsurers Other Liabilities 15,580,183 9,361,346 1,872,271 18,939,491 11,594,881 NET LIABILITIES Paidup Share Capital Share Premium Account Non Admissible Assets Adjustment Unrealised Revaluation Reserves Retained Account Other LIABILITIES 57,348,172 17,418, ,242 (399,599) 14,455,355 2,256,874 1,000,000 92,278, REPORT ON INSURANCE AND PENSIONS

113 SUMMARY OF BALANCE SHEETS OF INCORPORATED COMPANIES THE PRESIDENTIAL INSURANCE COMPANY LIMITED INCORPORATED 1970 Directors: A. ALI; A. HALLIM; R. RAJCOOMAR; J. FRANKLYN; H.HOSPEDALES; N. ALI Secretary: R. RAJCOOMAR Auditors: KRISHNA SEEGOBIN AND COMPANY Countries other than Trinidad and Tobago in which the Company writes business: NIL Summary of Balance Sheet in respect of Trinidad and Tobago business as at 31st October, 2006 assets Investments: Fixed Deposits with Bank Fixed Deposits with Other Financial Institutions Trinidad and Tobago Government Securities Securities guaranteed by the Gov t of T&T Ordinary shares in T&T Companies Cash on Current Account and in hand Other Loans Amounts due from Policyholders Amounts due from other Insurance Companies Interest, dividends and rents accruing but not due Sundry Debtors Fixed Assets ASSETS 2,013,569 1,982, ,685 6,829,977 64,624 11,211,559 1,208, ,217 6,879,217 6,520, , ,909 15,407,465 42,031,033 liabilities Insurance Funds Claims admitted or intimated but not paid Amount due to Reinsurers Bank Loans and Overdrafts Other Liabilities 8,385,495 8,212,420 1,893,978 1,851,491 7,138,741 NET LIABILITIES Paidup Share Capital Retained Account Other LIABILITIES 27,482,125 12,000, ,099 2,363,807 42,031,033 REPORT ON INSURANCE AND PENSIONS 111

114 APPENDIX A Directors: Secretary: Auditors: TRINIDAD AND TOBAGO INSURANCE LIMITED INCORPORATED 1963 ANTHONY N. SABGA; RAY A. SUMAIRSINGH; GERRY BROOKS; VICTOR HERDE; DAVID CLARKE; MICHAEL MOSES M. MUSA IBRAHIM ERNST & YOUNG Countries other than Trinidad and Tobago in which the company writes business: Barbados Summary of Balance Sheet in respect of Trinidad and Tobago business as at 31st December, 2006 assets Investments: Fixed Deposits with Bank Fixed Deposits with Other Financial Institutions Trinidad and Tobago Government Securities Securities guaranteed by the Gov t of T&T Other Caricom Government Securities Ordinary shares in T&T Companies Ordinary shares in nont&t Companies Preference shares in T&T Companies Bonds and Debentures in T&T Companies Bonds and Debentures in nont&t Companies Investment in dependent companies (insurance) Investment in dependent companies (noninsurance) 20,103,294 51,744,670 2,513,800 15,362,459 6,045,552 59,918,789 4,016,314 14,700 61,532,764 42,899,096 6,861,241 11,157, ,170,237 Cash on Current Account and in hand Amounts due from Agents and subagents Amounts due from Brokers Amounts due from Policyholders Amounts due from other Insurance Companies Interest, dividends and rents accruing but not due Sundry Debtors Fixed Assets Other Assets ASSETS 33,289,896 3,448,478 13,697,422 2,289,097 1,492,000 3,783,000 5,397,200 67,801,703 22,692, ,061,337 liabilities Insurance Funds Claims admitted or intimated but not paid Amount due to Reinsurers Other Liabilities NET LIABILITIES Paidup Share Capital Share Premium Account Non Admissible Assets Adjustment Unrealised Revaluation Reserves Retained Account Other LIABILITIES 54,117,113 70,044,393 23,914,592 41,626, ,702,345 19,069,596 32,944 (8,272,390) 36,085, ,883,154 58,560, ,061, REPORT ON INSURANCE AND PENSIONS

115 SUMMARY OF BALANCE SHEETS OF INCORPORATED COMPANIES UNITED INSURANCE COMPANY LIMITED INCORPORATED 1976 Directors: H.A. TOPPIN; T.A. PEIRCE; R.G. CAVE; G. KING; D.A. BLACKMAN; D.W. BOYCE Secretary: R.A.R.S. MARSHALL Auditors: ERNST AND YOUNG Countries other than Trinidad and Tobago in which the company writes business: Antigua, Aruba and the Netherland 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 Tobago business as at 30th September 2006 assets Investments: Fixed Deposits with Bank Trinidad and Tobago Government Securities Bonds and Debentures in nont&t Companies Cash Deposits with the Supervisor of Insurance Cash on Current Account and in hand Amounts due from Policyholders Interest, dividends and rents accruing but not due Other Assets ASSETS 20,154,500 1,789,584 13,822,094 35,766,178 3,000,000 23,167,135 12,776,176 2,227,076 16,104,335 93,040,900 liabilities Insurance Funds Claims admitted or intimated but not paid Premiums paid in advance Outstanding Commissions Other Liabilities 5,058,065 3,633,721 22,188 1,997,005 55,802,079 NET LIABILITIES Non Admissible Assets Adjustment Retained Account Other LIABILITIES 66,513,058 9,373,696 14,885,826 2,268,320 93,040,900 REPORT ON INSURANCE AND PENSIONS 113

116 APPENDIX A THE UNITED SECURITY LIFE INSURANCE COMPANY LIMITED INCORPORATED 1959 Directors: J.A. BETHELL; D.W. ALLAN; O.W. JORDAN; M CHEVANNESCAMPBELL; S.D.R. Mc NAMARA; T.A. MARTINS; A. ALEONG; H. Mc D BECKLES; D.D. MILLER; W.P. LUCIESMITH; C.D. de CAIRES; JOYCE E DEAR Secretary: S. OSBORNE Auditors: PRICEWATERHOUSECOOPERS Actuary: S. GOULET Countries 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 Tobago business as at 31st December, 2006 assets Investments: Fixed Deposits with Bank Fixed Deposits with Other Financial Institutions Trinidad and Tobago Government Securities Other Caricom Government Securities Ordinary shares in T&T Companies Ordinary shares in nont&t Companies Bonds and Debentures in T&T Companies 2,079,202 82,232 5,500,000 1,501, , ,264 5,461,793 15,474,443 Cash on Current Account and in hand Mortgage Loans Policy Loans Amounts due from other Insurance Companies Interest, dividends and rents accruing but not due Sundry Debtors ASSETS 1,217, ,861 11,718 1,153, , ,435 18,519,707 liabilities Insurance Funds Claims admitted or intimated but not paid Premiums paid in advance Other Liabilities 15,504,429 1,143, ,819 1,597,538 NET LIABILITIES LIABILITIES 18,519,707 18,519, REPORT ON INSURANCE AND PENSIONS

117 APPENDIX B LIST OF REGISTERED AGENTS List of Agents Registered under the Insurance Act, 1980 as at 31st December 2006 and their anniversary dates. AGENT ANNIVERSARY Date (Month/Day) Agent for / Company 1 1 On 1 Solutions. Nov/10 Maritime Life (Caribbean) 2 A.E.R. Investment Services. Aug/16 Guardian Life of the Caribbean 3 A.E.S. Enterprises Nov/25 Guardian Life of the Caribbean 4 A.Rauseo & Associates Jan/21 American Life and General Insurance Company Trinidad 5 A.S. Bryden & Sons (Insurance) May/18 Guardian General Insurance 6 AB Financial Solutions Jul/26 Colonial Life Insurance Company (Trinidad) 7 Abco Insurance Services Jan/03 Maritime General Insurance Company / Maritime Life (Caribbean) 8 ABS Financial Services Jan/03 Colonial Life Insurance Company (Trinidad) 9 Accident Insurance Marketing Oct/12 Colonial Fire and General Insurance Company / Colonial Life Insurance Company (Trinidad) 10 Adla Services Jul/16 Guardian Life of the Caribbean 11 Adrian Balkissoon t/a Adrian Balkissoon Enterprises Apr/09 Colonial Life Insurance Company (Trinidad) Advanced Investments Management Aerie International Mar/08 Mar/29 Guardian General Insurance / Guardian Life of the Caribbean Guardian Life of the Caribbean 14 AFM Insurance Marketing Services & Investments Jul/29 Guardian Life of the Caribbean REPORT ON INSURANCE AND PENSIONS 115

118 APPENDIX B List of Agents Registered under the Insurance Act, 1980 as at 31st December 2006 and their anniversary dates. AGENT ANNIVERSARY Date (Month/Day) Agent for / Company 15 AGN Insurance And Investments Apr/11 Guardian General Insurance 16 Ajax Services Aug/03 Guardian General Insurance 17 Akal Assets & Risk Management Apr/30 Guardian Life of the Caribbean 18 Albert Kenneth Jodhan Mar/08 Guardian Life of the Caribbean 19 Albert N. Abreu t/a Abreu Trading Company May/25 Trinidad and Tobago Insurance 20 Allan Tang Choon Oct/18 Maritime General Insurance Company / Maritime Life (Caribbean) 21 ALM Insurance Services Sep/01 Guardian General Insurance / Guardian Life of the Caribbean 22 Amada Investments & Financial Services. Jun/11 Guardian Life of the Caribbean 23 Amity Insurance Agencies Mar/21 GTM Insurance Company 24 Amritam Services Nov/18 Colonial Fire and General Insurance Company / Colonial Life Insurance Company (Trinidad) 25 Anand Rajkumar Jun/07 Colonial Life Insurance Company (Trinidad) 26 Andrea Marta AJM Financial Services May/18 Colonial Life Insurance Company (Trinidad) 27 Andrew Calcut t/a Calcut Insurance Services Jun/07 The New India Assurance Company (T dad & T go) 28 Andrew Hackett Insurance Services Jul/04 Guardian Life of the Caribbean 116 REPORT ON INSURANCE AND PENSIONS

119 List of Registered Agents List of Agents Registered under the Insurance Act, 1980 as at 31st December 2006 and their anniversary dates. AGENT ANNIVERSARY Date (Month/Day) Agent for / Company 29 Andy De Vert Insurance Consultants Mar/21 Sagicor Life Incorporated Andy Gopaul Anina Financial Services Dec/09 Nov/25 Citizen Insurance Company / Motor & General Insurance Company Colonial Life Insurance Company (Trinidad) 32 Anlegro Insurance Services Feb/14 Guardian Life of the Caribbean 33 Anna Gillian Mohammed Jan/03 Trinidad and Tobago Insurance Anna Nunes t/a Erna Insurance Services Annette Khan Sep/14 Jul/04 Guardian General Insurance / Guardian Life of the Caribbean Colonial Life Insurance Company (Trinidad) 36 Anormel Investments Apr/11 Tatil Life Assurance 37 Ansa Mc Al Group Employees Credit Union Cooperative Society Mar/21 Trinidad and Tobago Insurance 38 Anthony Davis t/a Successful Ideas Apr/15 Colonial Life Insurance Company (Trinidad) 39 Anthony Nagassar t/a FAN Services Jul/04 Colonial Life Insurance Company (Trinidad) 40 Anthony Ramsingh t/a Anthony Ramsingh Insurance Services Dec/22 Colonial Life Insurance Company (Trinidad) 41 Anthony St. Lewis Sep/10 Guardian Life of the Caribbean 42 Archton Services Jul/04 Guardian Life of the Caribbean REPORT ON INSURANCE AND PENSIONS 117

120 APPENDIX B List of Agents Registered under the Insurance Act, 1980 as at 31st December 2006 and their anniversary dates. AGENT ANNIVERSARY Date (Month/Day) Agent for / Company Arthur Bishop Insurance Services Astad Investments Jul/01 Feb/25 Maritime General Insurance Company / Maritime Life (Caribbean) American Life and General Insurance Company Trinidad 45 Atherly Services. Sep/17 Colonial Life Insurance Company (Trinidad) 46 Authentic Insurance Services. Sep/01 Guardian Life of the Caribbean 47 B & B Gray Enterprises May/14 Tatil Life Assurance / Trinidad and Tobago Insurance 48 B. K. Insurance Agency Sep/14 Trinidad and Tobago Insurance 49 B. Pedro Insurance Services Dec/22 Tatil Life Assurance 50 B. WilliamsGroome Financial Services Apr/13 Tatil Life Assurance / Trinidad and Tobago Insurance 51 B.J. Financial Services Feb/25 Guardian Life of the Caribbean 52 B.M.W. Professional Services. Jul/27 Guardian Life of the Caribbean 53 Barbara Kanhai t/a St. Clair Financial Services Nov/02 Colonial Life Insurance Company (Trinidad) 54 Bates Asset Management Company. Jul/22 Sagicor Life Incorporated 55 Beatrice Investments. Dec/28 Colonial Life Insurance Company (Trinidad) 56 Ben s Insurance & Financial Services Feb/23 Guardian Life of the Caribbean 118 REPORT ON INSURANCE AND PENSIONS

121 List of Registered Agents List of Agents Registered under the Insurance Act, 1980 as at 31st December 2006 and their anniversary dates. AGENT ANNIVERSARY Date (Month/Day) Agent for / Company 57 Bethel Credit Union CoOp Society Jan/14 GTM Insurance Company 58 Betty Beatrice De Roche t/a Elizabeth Enterprises May/11 Colonial Life Insurance Company (Trinidad) 59 Bisram Insurance Services Nov/25 Colonial Life Insurance Company (Trinidad) 60 Brent Durity t/a B.D. s Services Feb/23 Colonial Life Insurance Company (Trinidad) 61 Brian Christopher Samlalsingh Nov/18 Colonial Life Insurance Company (Trinidad) Brijesh Supersad C & R Basdeo Services Nov/22 Apr/27 Citizen Insurance Company / Motor & General Insurance Company Guardian Life of the Caribbean 64 C & S Moonah Financial Services Mar/29 Guardian Life of the Caribbean C & Y Dass Services C.A.J. Sep/08 Jul/04 Maritime General Insurance Company / Maritime Life (Caribbean) Trinidad and Tobago Insurance 67 C.A.P. Services Jul/04 Colonial Life Insurance Company (Trinidad) 68 C.L.S. Insurance Advisory Services Apr/11 British American Insurance Company Trinidad 69 Caesar s Advisory Services Oct/12 Colonial Life Insurance Company (Trinidad) 70 Camwiil Financial Enterprises. May/04 Tatil Life Assurance REPORT ON INSURANCE AND PENSIONS 119

122 APPENDIX B List of Agents Registered under the Insurance Act, 1980 as at 31st December 2006 and their anniversary dates. AGENT ANNIVERSARY Date (Month/Day) Agent for / Company 71 Capil s Insurance Services Apr/30 Guardian General Insurance 72 Carew Investments Company Nov/25 Colonial Life Insurance Company (Trinidad) 73 Carl A. Meyer (London Guarantee) Insurances Mar/18 Guardian General Insurance / Guardian Life of the Caribbean 74 Carl Dattadeen Apr/16 Motor & General Insurance Company 75 Carlton D.C. Buckmyre & Company Dec/19 American Life and General Insurance Company Trinidad 76 Carlton Wong Nov/18 Guardian Life of the Caribbean 77 CFJ Services Feb/23 Maritime General Insurance Company / Maritime Life (Caribbean) 78 Chaab Financial Company Jan/31 Guardian Life of the Caribbean 79 Charles Murray Feb/09 Guardian Life of the Caribbean 80 Charles Norton Guillen t/a Guillen s Insurance Services Mar/18 Sagicor Life Incorporated 81 Charmaine Maharaj Dec/28 Gulf Insurance 82 Chase Financial Solutions Jul/12 Colonial Fire and General Insurance Company / Colonial Life Insurance Company 83 Cheelan s Financial Advisory Services Dec/29 Tatil Life Assurance 84 Chelsea & Company. Dec/22 Guardian Life of the Caribbean 120 REPORT ON INSURANCE AND PENSIONS

123 List of Registered Agents List of Agents Registered under the Insurance Act, 1980 as at 31st December 2006 and their anniversary dates. AGENT ANNIVERSARY Date (Month/Day) Agent for / Company 85 Christian B. Grant Financial Solutions Jul/19 Colonial Life Insurance Company (Trinidad) 86 Christian Hosang Aug/19 Colonial Fire and General Insurance Company 87 Christopher Knaggs t/a Kris K. Insurance Services Mar/22 Sagicor Life Incorporated 88 Christopher Lyons Financial Services Jul/04 Tatil Life Assurance 89 CJ s & Associates Company Jul/26 Guardian Life of the Caribbean 90 Claims Consultants & Administrators Dec/22 Trinidad and Tobago Insurance 91 CLICO Credit Union Cooperative Society Nov/22 Colonial Fire and General Insurance Company 92 Clifford Rachpaul Enterprises Dec/08 Sagicor Life Incorporated 93 Coastline Financial Services Jul/20 Maritime General Insurance Company / Maritime Life (Caribbean) 94 Conec Marketing & Financial Services. Jul/29 Guardian Life of the Caribbean 95 Cuna Caribbean Insurance Services Jan/05 Guardian General Insurance / Guardian Life of the Caribbean 96 Czar Insurance Services Jun/22 Tatil Life Assurance 97 D. L. Financial Services Jan/03 Guardian Life of the Caribbean 98 D. R. Investment & Financial Services May/18 Guardian Life of the Caribbean REPORT ON INSURANCE AND PENSIONS 121

124 APPENDIX B List of Agents Registered under the Insurance Act, 1980 as at 31st December 2006 and their anniversary dates. AGENT ANNIVERSARY Date (Month/Day) Agent for / Company 99 D.Persad Insurance Services Jun/09 Colonial Life Insurance Company (Trinidad) 100 Dalchand Seerattan Aug/05 GTM Insurance Company 101 Darryl Chung t/a Darryl Chung Agencies Mar/21 Colonial Life Insurance Company (Trinidad) 102 Darryl Moreland Jan/03 Guardian Life of the Caribbean 103 Daryl Dasent t/a D J Z Investments Oct/12 Colonial Life Insurance Company (Trinidad) 104 David Grainger t/a Financial One Aug/16 Colonial Life Insurance Company (Trinidad) David Namsoo t/a D.A.N. Insurance Services David Parasram Sep/10 Mar/21 Sagicor Life Incorporated Guardian Life of the Caribbean 107 Dayna Vieira t/a Mayfair Insurance Services Apr/15 Sagicor Life Incorporated 108 DBM Consultants Jul/19 Maritime General Insurance Company 109 Debra Nancoo t/a Kaav Enterprise Sep/07 Sagicor Life Incorporated 110 Delothmar Parray t/a Universal Financial & Advisory Services Aug/18 Colonial Life Insurance Company (Trinidad) 111 Demming Marketing. Jun/22 Guardian Life of the Caribbean 112 Deneco Sep/01 Trinidad and Tobago Insurance 122 REPORT ON INSURANCE AND PENSIONS

125 List of Registered Agents List of Agents Registered under the Insurance Act, 1980 as at 31st December 2006 and their anniversary dates. AGENT ANNIVERSARY Date (Month/Day) Agent for / Company 113 Dennis Ramdwar t/a Dennis Ramdwar Agency Sep/14 Guardian General Insurance Deodath Ramdath Singh Insurance & Investment Services Dhanraj Maharaj t/a Dan Maharaj Financial Services Aug/23 Jun/17 Maritime General Insurance Company / Maritime Life (Caribbean) Colonial Life Insurance Company (Trinidad) 116 Dianne Grell t/a Financial & Insurance Solutions (FINSOL) Aug/16 Sagicor Life Incorporated 117 Dominic Gonzalez t/a Suretrade Investments Services May/10 Colonial Life Insurance Company (Trinidad) 118 Doncabris Financial Planning Associates Co.. May/18 Sagicor Life Incorporated 119 Donna Salandy t/a Meihkofin Services Feb/23 Maritime General Insurance Company / Maritime Life (Caribbean) 120 Dove Financial Services. Jun/21 Guardian Life of the Caribbean 121 Duncan Financial Services. Jun/17 Maritime Life (Caribbean) 122 Dwarika & Associates May/07 Colonial Life Insurance Company (Trinidad) 123 Dyal Ramcharan t/a Dyal Ramcharan Insurance Services Mar/18 Sagicor Life Incorporated 124 E D Investments Apr/11 Guardian Life of the Caribbean 125 Eaglestar Insurance Services Oct/14 American Life and General Insurance Company Trinidad 126 Eastern Credit Union Cooperative Society. Feb/27 Colonial Fire and General Insurance Company REPORT ON INSURANCE AND PENSIONS 123

126 APPENDIX B List of Agents Registered under the Insurance Act, 1980 as at 31st December 2006 and their anniversary dates. AGENT ANNIVERSARY Date (Month/Day) Agent for / Company 127 Eddie s Financial Services. Apr/15 Guardian Life of the Caribbean 128 Edward Lewis Francois Jul/12 Guardian Life of the Caribbean 129 Edwin Boyce t/a Edwin T. Boyce Insurance Services May/25 Sagicor Life Incorporated 130 EKTA Consultants Company Nov/25 Guardian General Insurance / The Caribbean Home Insurance Company 131 Elizabeth G. Ganga Financial Services Sep/01 Colonial Life Insurance Company (Trinidad) 132 Elizabeth Ramathally t/a Frank Ramdeen s Insurance Agency Jun/17 Citizen Insurance Company 133 Emmanuel Cipriani Lawrence Feb/23 Colonial Life Insurance Company (Trinidad) 134 Enrique Huggins Insurance Services. May/18 Sagicor Life Incorporated 135 Ephraim Thompson t/a Ephraim Insurance Consultant Services Mar/21 Sagicor Life Incorporated 136 Estee Enterprises Jul/04 Guardian Life of the Caribbean 137 Eugene Nurse Dec/28 Colonial Life Insurance Company (Trinidad) 138 Euodoo Financial Services. Dec/22 Colonial Life Insurance Company (Trinidad) 139 Everard Cabral Sep/14 Colonial Life Insurance Company (Trinidad) 140 Excelsior Innovations Aug/27 Guardian Life of the Caribbean 124 REPORT ON INSURANCE AND PENSIONS

127 List of Registered Agents List of Agents Registered under the Insurance Act, 1980 as at 31st December 2006 and their anniversary dates. AGENT ANNIVERSARY Date (Month/Day) Agent for / Company 141 F & G Enterprises Sep/01 Colonial Life Insurance Company (Trinidad) 142 F A M Investments. Feb/09 Colonial Life Insurance Company (Trinidad) 143 Faith Financial Services. Sep/01 American Life and General Insurance Company Trinidad 144 FANcc Investment Services Jan/10 Guardian Life of the Caribbean 145 Farrell s Insurance Services Feb/14 Colonial Fire and General Insurance Company / Colonial Life Insurance Company (Trinidad) 146 Federal Financial Services Jan/21 Guardian Life of the Caribbean 147 Ferm Insurance Services Nov/09 Guardian Life of the Caribbean 148 FFS Jul/29 Guardian Life of the Caribbean 149 Financial Advisory Services Nov/25 Colonial Fire and General Insurance Company / Colonial Life Insurance Company (Trinidad) 150 Financial Evaluation Sales & Services Nov/25 Maritime General Insurance Company / Maritime Life (Caribbean) 151 Financial Physicians Jul/19 Maritime General Insurance Company / Maritime Life (Caribbean) 152 Fitzroy Sirjuesingh t/a Sirjuesingh Insurance Services Feb/23 Colonial Life Insurance Company (Trinidad) 153 FLA Insurance Services Oct/08 Maritime General Insurance Company 154 Flemco Services Nov/09 Maritime General Insurance Company / Maritime Life (Caribbean) REPORT ON INSURANCE AND PENSIONS 125

128 APPENDIX B List of Agents Registered under the Insurance Act, 1980 as at 31st December 2006 and their anniversary dates. AGENT ANNIVERSARY Date (Month/Day) Agent for / Company 155 Fletcher Vincent Insurance Services Jan/03 Gulf Insurance 156 Frederick Maryuen May/18 Guardian Life of the Caribbean 157 Fuentes Financial Services Jun/10 Tatil Life Assurance 158 Futuristic Insurance Services Mar/29 Guardian Life of the Caribbean 159 FYC Jun/11 Guardian Life of the Caribbean 160 G.E.T. Financial Services Mar/26 Guardian Life of the Caribbean 161 G.M. Investments Jan/31 Colonial Life Insurance Company (Trinidad) 162 G.V.L. Financial Solutions Mar/21 Maritime General Insurance Company / Maritime Life (Caribbean) 163 Garon Apr/11 Sagicor Life Incorporated 164 Gee Hee Tee Insurance Services Oct/14 Tatil Life Assurance / Trinidad and Tobago Insurance 165 Gee Tee & F Persnal Financial Services May/25 Guardian Life of the Caribbean 166 Geeta ManbodhLakhan Aug/26 The Presidential Insurance Company 167 General Financial Services Apr/10 Sagicor Life Incorporated 168 Gerard Ramroach Feb/23 Guardian Life of the Caribbean 126 REPORT ON INSURANCE AND PENSIONS

129 List of Registered Agents List of Agents Registered under the Insurance Act, 1980 as at 31st December 2006 and their anniversary dates. AGENT ANNIVERSARY Date (Month/Day) Agent for / Company 169 Gerhard Akien Sep/02 Guardian Life of the Caribbean 170 Gervase Hannays t/a G.H. Insurance Services Jul/04 Sagicor Life Incorporated 171 Glennrod Services May/18 Guardian General Insurance 172 Golden Future Investments Jul/04 Colonial Life Insurance Company (Trinidad) 173 Good Financial Services Feb/23 Sagicor Life Incorporated 174 GopeeSamlalsingh & Associates Oct/28 Colonial Fire and General Insurance Company 175 Gordon, Grant & Company May/06 Guardian General Insurance 176 Grandwheels Services. Sep/02 Sagicor Life Incorporated 177 GRB Financial Services. Sep/02 Colonial Life Insurance Company (Trinidad) 178 Gregory E. Joseph t/a Quick Services Enterprises May/11 Colonial Life Insurance Company (Trinidad) 179 GTM Insurance Company Jun/25 Motor One Insurance Company 180 Guy Algernon Burton Ottley Feb/25 Guardian Life of the Caribbean 181 H.H. Services Mar/21 Sagicor Life Incorporated 182 Habil Mohammed t/a Habil Mohammed Agency Apr/15 Trinidad and Tobago Insurance REPORT ON INSURANCE AND PENSIONS 127

130 APPENDIX B List of Agents Registered under the Insurance Act, 1980 as at 31st December 2006 and their anniversary dates. AGENT ANNIVERSARY Date (Month/Day) Agent for / Company 183 Hamilson s Insurance Services Apr/22 Trinidad and Tobago Insurance 184 Hansa Marketing Jul/21 Maritime General Insurance Company / Maritime Life (Caribbean) 185 Harrinath Seeram t/a Viva Insurance Services Jan/14 Colonial Life Insurance Company (Trinidad) 186 Harrypersad Babwah Feb/14 Guardian Life of the Caribbean 187 Hayden Blackmann t/a H.H.B Consultants Jan/14 Colonial Life Insurance Company (Trinidad) 188 Health & Wealth Management Consultants. Dec/22 Colonial Life Insurance Company (Trinidad) 189 Helen Ache t/a H. Ache Insurance Services Oct/11 Sagicor Life Incorporated 190 Hellascorp Dec/15 Guardian Life of the Caribbean 191 Herman O Creque & Company Mar/08 Tatil Life Assurance 192 Hillcrest Investments Jan/14 Colonial Life Insurance Company (Trinidad) 193 Hugh Pollonais Sep/01 Guardian Life of the Caribbean 194 I Will Finance Aug/05 Maritime Life (Caribbean) 195 Ian Stone t/a I.S. Insurance Consultant Dec/08 Sagicor Life Incorporated 196 Ignatius and Company Oct/14 Guardian Life of the Caribbean 128 REPORT ON INSURANCE AND PENSIONS

131 List of Registered Agents List of Agents Registered under the Insurance Act, 1980 as at 31st December 2006 and their anniversary dates. AGENT ANNIVERSARY Date (Month/Day) Agent for / Company 197 Indira Mohammed Nov/02 Motor & General Insurance Company 198 Insurance & Financial Services Nov/09 Guardian Life of the Caribbean 199 Integritus Co.. Nov/26 Colonial Life Insurance Company (Trinidad) 200 Investor s Paradise Financial Services Apr/27 Colonial Life Insurance Company (Trinidad) 201 J & C Agencies. Dec/22 Guardian General Insurance 202 J & L Financial & Counselling Services Jan/14 Colonial Life Insurance Company (Trinidad) 203 J. Gregory Farfan t/a J.G.F. Insurance Services Oct/25 Sagicor Life Incorporated 204 J.K.N. Financial Services Feb/09 Colonial Life Insurance Company (Trinidad) 205 J.Mohess & Company Mar/18 Tatil Life Assurance / Trinidad and Tobago Insurance 206 James Nathaniel Nimblett Jan/21 Guardian Life of the Caribbean 207 Japs Insurance Services Apr/13 Trinidad and Tobago Insurance 208 Jarod Joseph Perryman t/a Jarim Enterprises Jan/31 Colonial Life Insurance Company (Trinidad) 209 Jeewan Birbal Feb/14 Colonial Life Insurance Company (Trinidad) 210 Jemmot Manmohan t/a Jemmot Manmohan Insurance and Investments Oct/21 Colonial Life Insurance Company (Trinidad) REPORT ON INSURANCE AND PENSIONS 129

132 APPENDIX B List of Agents Registered under the Insurance Act, 1980 as at 31st December 2006 and their anniversary dates. AGENT ANNIVERSARY Date (Month/Day) Agent for / Company 211 Jenkha Jul/16 Colonial Life Insurance Company (Trinidad) 212 Jennifer Gonzalez t/a Jennifer Gonzalez Insurance Services Jun/21 Sagicor Life Incorporated 213 Jennifer LesseyJordan t/a JLJ Consultant May/11 Colonial Life Insurance Company (Trinidad) 214 Joan Carr t/a Joan Carr Insurance Services Mar/21 Sagicor Life Incorporated 215 Joel Martinez & Associates. Jan/28 Sagicor Life Incorporated 216 John Andre WoodSalomon t/a Andre s Financial Management Services Jul/04 Colonial Life Insurance Company (Trinidad) 217 Jonathan Decle t/a J.D. Insurance Services Nov/02 Sagicor Life Incorporated 218 Jones Motors Apr/30 Guardian General Insurance 219 Judy Weaver t/a J.V.W. Financial Services Mar/18 Colonial Life Insurance Company (Trinidad) 220 Jury Mohammed t/a Mohammed Motor Insurance Agency Dec/08 Capital Insurance 221 K.S.W. Financial Services Apr/25 Tatil Life Assurance 222 Kalyaani Sep/02 Trinidad and Tobago Insurance 223 Karlla Agencies Dec/15 Guardian Life of the Caribbean 224 Kedar Gajadharsingh t/a Gajadharsingh Insurance & Travel Services Feb/25 Trinidad and Tobago Insurance 130 REPORT ON INSURANCE AND PENSIONS

133 List of Registered Agents List of Agents Registered under the Insurance Act, 1980 as at 31st December 2006 and their anniversary dates. AGENT ANNIVERSARY Date (Month/Day) Agent for / Company 225 Kee Investment Strategies Jul/20 Maritime Life (Caribbean) 226 Keith Charles Financial Services Jun/17 Tatil Life Assurance / Trinidad and Tobago Insurance 227 Keith s Financial Services Sep/02 Colonial Life Insurance Company (Trinidad) 228 Kermit Khan t/a Khan s Motor Insurance Agency Sep/15 Capital Insurance 229 Kerry Peter Ramjag Dec/22 Colonial Life Insurance Company (Trinidad) 230 Kevin Davis t/a K.Davis Consultants Mar/29 Colonial Life Insurance Company (Trinidad) 231 Keystone Investments. Jul/22 Maritime General Insurance Company / Maritime Life (Caribbean) 232 Kirby Panchoo t/a E.R. Insurance Agency Aug/19 Anchorage General Insurance 233 Kirton Daniel t/a Quantum Financial Solutions Jan/14 Colonial Life Insurance Company (Trinidad) 234 Krat Investments Sep/15 Guardian Life of the Caribbean 235 Krishna Ramgoolam t/a K.Ramgoolam Financial Services Jan/14 Colonial Life Insurance Company (Trinidad) 236 L.F.M. Investments Jul/12 Maritime Life (Caribbean) 237 L.G.G. Investments Oct/14 Guardian Life of the Caribbean 238 L.J. Pollonais (1989) May/18 Guardian General Insurance REPORT ON INSURANCE AND PENSIONS 131

134 APPENDIX B List of Agents Registered under the Insurance Act, 1980 as at 31st December 2006 and their anniversary dates. AGENT ANNIVERSARY Date (Month/Day) Agent for / Company 239 L.J. Williams Jan/03 American Life and General Insurance Company Trinidad 240 L.R. & J. Investments May/25 Guardian Life of the Caribbean 241 Lange Trinidad Jun/07 Guardian General Insurance 242 Lark Investment May/25 Guardian Life of the Caribbean 243 Lawrence Enterprises Jan/21 Colonial Life Insurance Company (Trinidad) 244 Lexcorp Company Nov/09 Maritime General Insurance Company / Maritime Life (Caribbean) 245 LG Consultancy & Associates. Jun/23 Guardian Life of the Caribbean 246 Logimex Group Jan/31 Colonial Fire and General Insurance Company 247 Lucky Robinson Insurance & Allied Services Jan/31 Colonial Life Insurance Company (Trinidad) 248 Lurson Financial & Investment Services. Dec/28 Guardian Life of the Caribbean 249 Lutchman Agencies Mar/29 Citizen Insurance Company 250 Lynchris Financial Services Jul/29 Guardian Life of the Caribbean 251 M & G Enterprises Feb/25 Guardian Life of the Caribbean 252 M.S.B. Insurance Services Feb/09 Tatil Life Assurance 132 REPORT ON INSURANCE AND PENSIONS

135 List of Registered Agents List of Agents Registered under the Insurance Act, 1980 as at 31st December 2006 and their anniversary dates. AGENT ANNIVERSARY Date (Month/Day) Agent for / Company 253 M.S.C.D. Investments Sep/02 Guardian Life of the Caribbean 254 M.U.C.H. Services May/18 Guardian Life of the Caribbean 255 Margaret Louise GriffithEdwards Feb/14 Guardian Life of the Caribbean 256 Marius Advisory Services Sep/02 Colonial Life Insurance Company (Trinidad) 257 Marjen Financial & Insurance Services Jan/14 Colonial Life Insurance Company (Trinidad) 258 Martel Investment. Mar/18 Colonial Life Insurance Company (Trinidad) 259 Martin M.V. Lashley t/a M.M.V.L. Financial Services Jan/14 Colonial Life Insurance Company (Trinidad) 260 Maxim Investments Apr/11 Guardian Life of the Caribbean 261 Mazely Enterprises Dec/08 Guardian Life of the Caribbean 262 Melvic Incorporation Sep/20 Guardian Life of the Caribbean 263 Mervina Hosein May/18 The Great Northern Insurance Company 264 Michael Ibrahim Insurance and Investments. Sep/17 Guardian Life of the Caribbean 265 Michael Lawrence Insurance Services Jul/08 Guardian Life of the Caribbean 266 Michelle Prashad t/a M.A.P. Financial Services Jan/14 Sagicor Life Incorporated REPORT ON INSURANCE AND PENSIONS 133

136 APPENDIX B List of Agents Registered under the Insurance Act, 1980 as at 31st December 2006 and their anniversary dates. AGENT ANNIVERSARY Date (Month/Day) Agent for / Company 267 MPA Insurance Services. Dec/05 Sagicor Life Incorporated 268 Myron Rudder t/a Myron Rudder Agency Sep/17 Colonial Life Insurance Company (Trinidad) 269 N & Q Investments Jul/04 Colonial Fire and General Insurance Company 270 Naceri Mar/21 Guardian Life of the Caribbean 271 Naidu Powdhar t/a Naidu Powdhar Insurance Agency Sep/15 Colonial Life Insurance Company (Trinidad) 272 Nare Insurance Agencies Apr/27 The Beacon Insurance Company 273 Nazia AliAzim Oct/14 The New India Assurance Company (T dad & T go) 274 Nazir Mohammed Investments Oct/22 Colonial Life Insurance Company (Trinidad) 275 Nelson Wong Sang Aug/19 Guardian Life of the Caribbean 276 New Creation Investment Jul/04 Guardian Life of the Caribbean 277 Nigel F. Hadley t/a Nigel F. Hadley Insurance Services Feb/14 Colonial Life Insurance Company (Trinidad) 278 Nigel G. Salina & Associates Jan/14 Colonial Life Insurance Company (Trinidad) 279 Nirveeta Agencies Jul/19 Guardian General Insurance 280 Noel Noel & Associates May/25 Guardian General Insurance 134 REPORT ON INSURANCE AND PENSIONS

137 List of Registered Agents List of Agents Registered under the Insurance Act, 1980 as at 31st December 2006 and their anniversary dates. AGENT ANNIVERSARY Date (Month/Day) Agent for / Company 281 Northern Atlantic Insurance & Finance Company Sep/01 Maritime General Insurance Company 282 Oodles Financial Services Mar/15 Guardian Life of the Caribbean 283 Oswald Alexis Joseph Jul/04 Guardian Life of the Caribbean 284 P.K. Management Services May/18 Sagicor Life Incorporated 285 Padmawatee MaharajDespot t/a Soldado Insurance Agency Dec/28 Trinidad and Tobago Insurance 286 Palladium Financial Planning Services. Jun/12 Guardian Life of the Caribbean 287 Pamela Momen Rampersad Aug/03 Capital Insurance 288 Paramount Investments Oct/14 Colonial Life Insurance Company (Trinidad) 289 Partap Seenath Nov/16 GTM Insurance Company 290 Patricia JamesWilson t/a Semaj Consultancy Services Mar/21 Maritime General Insurance Company / Maritime Life (Caribbean) 291 Paul Gerard Massiah t/a PGM Enterprises Jun/11 Colonial Life Insurance Company (Trinidad) 292 Paul Gyan t/a Paul Gyan Insurance Services Jan/14 Colonial Life Insurance Company (Trinidad) 293 Pauline De Souza t/a P.D. Insurance Services Mar/21 Sagicor Life Incorporated 294 Pegasus Financial Services Feb/19 Trinidad and Tobago Insurance REPORT ON INSURANCE AND PENSIONS 135

138 APPENDIX B List of Agents Registered under the Insurance Act, 1980 as at 31st December 2006 and their anniversary dates. AGENT ANNIVERSARY Date (Month/Day) Agent for / Company 295 PGM Financial Services Oct/14 Guardian Life of the Caribbean 296 Pooled Producers Jul/19 Maritime Life (Caribbean) 297 Portfolio Serve. Oct/14 Colonial Life Insurance Company (Trinidad) 298 Pranesh Maharaj Aug/26 Guardian Life of the Caribbean 299 Premdath Seegolam t/a V.I.P.S. Financial Services Aug/03 Colonial Life Insurance Company (Trinidad) 300 Prime General Insurance Oct/11 Sagicor General Insurance 301 Prince Primus Investment Apr/15 Colonial Life Insurance Company (Trinidad) 302 Prophet Financial Services. Jun/11 Guardian Life of the Caribbean 303 QRator Financial Services Liamited May/11 Sagicor Life Incorporated 304 R & N Insurance Services. Aug/03 Maritime General Insurance Company 305 R & S Enterprises Oct/25 Guardian Life of the Caribbean 306 R.C.S.N. Investments Jul/26 Colonial Life Insurance Company (Trinidad) 307 R.G.F. Asset Management Nov/21 Maritime Life (Caribbean) 308 R.Ramkissoon Insurance Services. Feb/25 Colonial Life Insurance Company (Trinidad) 136 REPORT ON INSURANCE AND PENSIONS

139 List of Registered Agents List of Agents Registered under the Insurance Act, 1980 as at 31st December 2006 and their anniversary dates. AGENT ANNIVERSARY Date (Month/Day) Agent for / Company 309 Rae HenryFrancis t/a Investment & Financial Planning Solutions Dec/08 Colonial Life Insurance Company (Trinidad) 310 Rafael Mouttet t/a R.E.M. Financial Services Apr/11 Sagicor Life Incorporated 311 Rahamut & Company Mar/18 Capital Insurance 312 Ralico Insurance Services Feb/23 Maritime General Insurance Company / Maritime Life (Caribbean) 313 Ralph Coutain Insurance Services and Investments Feb/23 Colonial Life Insurance Company (Trinidad) 314 Ramanan Jaikaran Sep/02 Gulf Insurance 315 Ramkhelawan Financial and Insurance Services Jan/31 British American Insurance Company Trinidad 316 Ramlogan Associates. Aug/03 Capital Insurance 317 Randy Hosein Oct/14 Maritime General Insurance Company 318 Rasheed Ali t/a Rasheed Ali Insurance Services Dec/28 Sagicor Life Incorporated 319 RBTT Insurance Agency Jul/04 Guardian General Insurance / Guardian Life of the Caribbean 320 RDA Financial Services Sep/02 Guardian Life of the Caribbean 321 Recover Insurance Services Sep/30 Tatil Life Assurance / Trinidad and Tobago Insurance 322 Rhevol Insurance And Investment Services. Feb/25 Guardian Life of the Caribbean REPORT ON INSURANCE AND PENSIONS 137

140 APPENDIX B List of Agents Registered under the Insurance Act, 1980 as at 31st December 2006 and their anniversary dates. AGENT ANNIVERSARY Date (Month/Day) Agent for / Company 323 Riansel Financial Planning Services. Jul/29 Maritime General Insurance Company / Maritime Life (Caribbean) 324 Richard Daly t/a NRICH Enterprises Mar/29 Sagicor Life Incorporated 325 RIIB Financial Services Apr/13 Guardian Life of the Caribbean 326 Rishi Ramdeen t/a R.J.R. Investments and Insurance Services Aug/03 Colonial Life Insurance Company (Trinidad) 327 Risk Protection Insurance Agencies Nov/26 Trinidad and Tobago Insurance 328 RMB Financial Services May/11 Tatil Life Assurance / Trinidad and Tobago Insurance 329 Robard Insurance Services Mar/29 Guardian General Insurance 330 Roje Management and Investment Services Mar/29 Guardian Life of the Caribbean 331 Rolfe Ronald Albert Moyou t/a Moyou Investment and Insurance Jul/04 Colonial Life Insurance Company (Trinidad) 332 Ronald Barlay t/a Ronbaris Jan/21 Colonial Life Insurance Company (Trinidad) 333 Rondar Insurance Services. Jul/22 British American Insurance Company Trinidad 334 Roton Investments Oct/12 Maritime Life (Caribbean) 335 Royal Insurance Consultants Feb/14 Guardian General Insurance 336 RSDF Finance & Investments. Jun/09 Guardian Life of the Caribbean 138 REPORT ON INSURANCE AND PENSIONS

141 List of Registered Agents List of Agents Registered under the Insurance Act, 1980 as at 31st December 2006 and their anniversary dates. AGENT ANNIVERSARY Date (Month/Day) Agent for / Company 337 Rudy Gaskin Insurance, Investments & Financial Services. Dec/03 Guardian Life of the Caribbean 338 Rupert Clovis Insurance Agency Jun/07 Guardian General Insurance 339 Russell Bhola Insurance Services Mar/08 Tatil Life Assurance 340 Ruth FrazerMunroe Oct/22 Guardian Life of the Caribbean 341 Rybre Services Sep/02 Colonial Life Insurance Company (Trinidad) 342 S & R Insurance And Advisory Service. Mar/18 Tatil Life Assurance 343 S & S Insurance & Associated Services Jul/29 Colonial Life Insurance Company (Trinidad) 344 S. Deonarine Insurance Services Jul/04 Colonial Life Insurance Company (Trinidad) 345 S.D.R. Nandlal Advisory Services Mar/29 Mega Insurance Company 346 S.M.H. Services Mar/21 Trinidad and Tobago Insurance 347 S.O.S. Agencies. Jul/22 Colonial Life Insurance Company (Trinidad) 348 S.W. Financial Services. Feb/25 Colonial Life Insurance Company (Trinidad) 349 Sagicor Life Incorporated Jul/08 Sagicor General Insurance 350 Saving Security Investment Jan/31 Tatil Life Assurance / Trinidad and Tobago Insurance REPORT ON INSURANCE AND PENSIONS 139

142 APPENDIX B List of Agents Registered under the Insurance Act, 1980 as at 31st December 2006 and their anniversary dates. AGENT ANNIVERSARY Date (Month/Day) Agent for / Company 351 Security Motor Insurance Agencies Nov/10 Capital Insurance 352 Seepersad Agencies Aug/30 Guardian General Insurance 353 Selona Gransam Oct/31 Trinidad and Tobago Insurance 354 Selverondm Mar/03 Guardian Life of the Caribbean 355 Shawn Crooks t/a Shawn Crooks Consultancy Services Jun/07 Colonial Life Insurance Company (Trinidad) 356 Stafford Yorke Financial Services Apr/13 Guardian Life of the Caribbean 357 Stanley Hospedales May/18 Export Import Bank of Trinidad and Tobago 358 Stokely Regis Insurance Services Jan/29 Colonial Life Insurance Company (Trinidad) 359 Sumar Consultants. Jan/10 Sagicor Life Incorporated 360 Supreme Concepts & Solutions Oct/21 Maritime General Insurance Company / Maritime Life (Caribbean) 361 Swarraj Marketing Company May/11 May/11 Maritime General Insurance Company Maritime Life (Caribbean) 362 Sydsons Services Aug/02 Sagicor Life Incorporated 363 T C & F Services Nov/02 Sagicor Life Incorporated 364 Tai Chew Investment Services. Jul/08 Guardian Life of the Caribbean 140 REPORT ON INSURANCE AND PENSIONS

143 List of Registered Agents List of Agents Registered under the Insurance Act, 1980 as at 31st December 2006 and their anniversary dates. AGENT ANNIVERSARY Date (Month/Day) Agent for / Company 365 Taji Financial Services Aug/02 Colonial Life Insurance Company (Trinidad) 366 Tando Mar/18 Colonial Life Insurance Company (Trinidad) 367 Teague s Inc. Aug/05 Maritime Life (Caribbean) 368 TECU Credit Union Cooperative Society Mar/18 Mar/18 Cuna Caribbean Insurance Guardian General Insurance 369 Telly Paul Accident & Health Insurance Services. Jan/21 American Life and General Insurance Company Trinidad 370 Telly Paul General Insurance Services Sep/03 American Life and General Insurance Company Trinidad 371 Telly Paul Insurance & Financial Services Sep/01 American Life and General Insurance Company Trinidad 372 Terence Gopaul Insurance Consultants Mar/21 Tatil Life Assurance 373 The New Edition Insurance Services Jun/07 American Life and General Insurance Company Trinidad 374 The Presidential Insurance Company Sep/02 Trinidad and Tobago Insurance 375 Thecla Enterprises Sep/02 Maritime General Insurance Company / Maritime Life (Caribbean) 376 Thomas and Sons Sep/02 Colonial Fire and General Insurance Company 377 Thomas Nancoo Jul/04 Colonial Life Insurance Company (Trinidad) 378 Thomas SosaWanguemert Jun/10 Guardian Life of the Caribbean REPORT ON INSURANCE AND PENSIONS 141

144 APPENDIX B List of Agents Registered under the Insurance Act, 1980 as at 31st December 2006 and their anniversary dates. AGENT ANNIVERSARY Date (Month/Day) Agent for / Company 379 Thomas Wood t/a Nitim Insurance Services Oct/10 Sagicor Life Incorporated 380 Three Palms Services Mar/29 Citizen Insurance Company 381 TIMCO Insurance Services May/18 Maritime General Insurance Company Maritime Life (Caribbean) 382 Tobias & Tobias Insurance Services May/25 Sagicor Life Incorporated 383 Tommy Elias Insurance Services. Mar/08 Dec/28 Maritime General Insurance Company Maritime Life (Caribbean) 384 Total Insurance Services Aug/03 Colonial Life Insurance Company (Trinidad) 385 Towheed Ali Feb/02 Colonial Life Insurance Company (Trinidad) 386 Trevor Rex Baddaloo Enterprises Jul/26 Jul/26 Maritime General Insurance Company Maritime Life (Caribbean) 387 Trinidad Financial Management Services Aug/03 Maritime General Insurance Company 388 Trinidad Insurance Centre Sep/09 Sagicor Life Incorporated 389 Trinmesh Jan/22 Trinidad and Tobago Insurance 390 U4RIA Investments And Services Apr/13 Colonial Life Insurance Company (Trinidad) 391 Usuff Abraham t/a U.M.A. Insurance Services Jan/03 Sagicor Life Incorporated 392 V & A Services. Nov/18 Colonial Life Insurance Company (Trinidad) 142 REPORT ON INSURANCE AND PENSIONS

145 List of Registered Agents List of Agents Registered under the Insurance Act, 1980 as at 31st December 2006 and their anniversary dates. AGENT ANNIVERSARY Date (Month/Day) Agent for / Company 393 V.H. Investments Jan/21 Guardian Life of the Caribbean 394 Varona Usha Polat t/a Kushal Agencies Jan/05 The New India Assurance Company (T dad & T go) 395 Vasantie Singh t/a Premier Insurance Services Feb/09 The New India Assurance Company (T dad & T go) 396 Vashti Balgaroo Dec/03 Motor One Insurance Company 397 Veda Consultants Feb/23 The New India Assurance Company (T dad & T go) 398 Vera Ali Nov/29 Guardian Life of the Caribbean 399 Vergo Enterprises Jul/04 Motor & General Insurance Company 400 Vernon Fingal Financial Services Company Dec/28 Guardian Life of the Caribbean 401 W & H Tire Supplies Oct/11 Trinidad and Tobago Insurance 402 W. Lezama Insurance and Investment Services Sep/02 Colonial Life Insurance Company (Trinidad) 403 Wajeeda Bissoondath Mar/29 Guardian General Insurance 404 Wallum Insurance Services Jul/04 GTM Insurance Company Motor One Insurance Company 405 Wayne Decle t/a Decle Insurance Services Jan/10 Sagicor Life Incorporated 406 Wayne Mohammed t/a Waymo Financial Services Dec/08 Sagicor Life Incorporated REPORT ON INSURANCE AND PENSIONS 143

146 APPENDIX B List of Agents Registered under the Insurance Act, 1980 as at 31st December 2006 and their anniversary dates. AGENT ANNIVERSARY Date (Month/Day) Agent for / Company 407 Whedeck Insurance & Financial Services Feb/09 Guardian Life of the Caribbean 408 Whibco Associates Dec/08 Sagicor Life Incorporated 409 William Rodriguez Aug/19 Guardian Life of the Caribbean 410 William St. Aubyn t/a St. Aubyn Insurance Services Dec/08 Sagicor Life Incorporated 411 Winston Archer Jan/14 Guardian Life of the Caribbean 412 Z.N. Mathura Investments. Dec/28 Guardian Life of the Caribbean 413 Zahaida Ali Insurance Services Mar/08 Mar/08 Maritime General Insurance Company Maritime Life (Caribbean) 414 Zenobia Baksh Aug/19 Trinidad and Tobago Insurance 144 REPORT ON INSURANCE AND PENSIONS

147 APPENDIX C LIST OF REGISTERED BROKERS LIST OF BROKERS REGISTERED UNDER THE INSURANCE ACT CHAP. 84:01 AS AT 31ST DECEMBER 2006 AND THEIR ANNIVERSARY DATES. BROKER ANNIVERSARY Date 1 21st Century Insurance and Reinsurance Brokers 7/13 2 3K s Services 3/18 3 Ace Insurance Brokers 3/24 4 Agostini Insurance Brokers 2/28 5 Amalgamated Insurance Brokers 5/13 6 Amrib Insurance Services /4 7 Anthony David Farah 3/31 8 Anthony Nigel Vere Slinger 0/11 9 Aon Energy Caribbean 2/20 10 Blaine Hosang 2/25 11 Brian Lewis t/a Legacy Financial 4/13 12 Camacho De Bruin Insurance Brokers 0/25 13 Charlett & Gatcliffe /4 14 Christian W. Low 3/4 15 Comprehensive Insurance Brokers 2/28 16 Consolidated Insurance Consultants /18 17 Craig Millar 3/27 18 Darryl Ramsundar 2/1 19 Dave Patterson /30 20 Dereck Soobransingh 7/29 REPORT ON INSURANCE AND PENSIONS 145

148 APPENDIX C LIST OF BROKERS REGISTERED UNDER THE INSURANCE ACT CHAP. 84:01 AS AT 31ST DECEMBER 2006 AND THEIR ANNIVERSARY DATES. BROKER ANNIVERSARY Date 21 Derek De Silva 3/23 22 Dexter Ragoonanan 5/18 23 E.P. Insurance Services 7/1 24 Emerald Insurance Services 5/18 25 Erickson Ramkhelawan 2/3 26 Errol Sooknanan 7/1 27 Farah Insurance Brokers 3/31 28 Fazal Imtiaz Ali 7/12 29 Fidelity Insurance Brokers (Fazal Ali) 7/12 30 Garvin Anslem Manzano 0/19 31 Global Financial Brokers 8/20 32 Gregory De Montrichard 3/18 33 Guerero and Hubert Company 2/10 34 Hardath General Insurance Consultants 2/7 35 Hardeo Hardath 2/7 36 Insurance & Allied Services 2/29 37 Insurance Brokers West Indies 2/1 38 Insurance Managers 9/27 39 Irma Bishop /4 40 Janice Roberts / REPORT ON INSURANCE AND PENSIONS

149 LIST OF REGISTERED BROKERS LIST OF BROKERS REGISTERED UNDER THE INSURANCE ACT CHAP. 84:01 AS AT 31ST DECEMBER 2006 AND THEIR ANNIVERSARY DATES. BROKER ANNIVERSARY Date 41 Jerry R. Narace 9/27 42 L & L Insurance Services 9/16 43 Lanson Julien /30 44 LouAnna FerreiraPatterson 2/20 45 Luciano Woodley 9/16 46 M&M Insurance Services 2/25 47 Mailbrol Insurance Brokers /18 48 Merchants & General Insurance & Reinsurance Brokers (W.I.) 4/18 49 Michael Redhead t/a Pensurance Brokers /2 50 Millar Insurance Brokers 3/27 51 Millenium Insurance Brokers /30 52 Nautilus Insurance Brokers 8/10 53 Nazreen Deosingh 3/18 54 Neil Colin Gosine 7/31 55 Nizam Mohammed 3/24 56 Norman Gabriel 2/23 57 Norman Gabriel 2/23 58 Omah Seetahal 2/29 59 Pan West Indian Insurance Brokers 5/3 60 Personalised Insurance Brokers & Reinsurance 2/3 REPORT ON INSURANCE AND PENSIONS 147

150 APPENDIX C LIST OF BROKERS REGISTERED UNDER THE INSURANCE ACT CHAP. 84:01 AS AT 31ST DECEMBER 2006 AND THEIR ANNIVERSARY DATES. BROKER ANNIVERSARY Date 61 Peter Gifford Charlett /4 62 Peter Malcolm George Farah 2/28 63 Prakash H. Bhagan 2/1 64 PRFC 2/28 65 Ramnarine Maharaj 5/13 66 Ravi Surjan 5/3 67 Richard Ramdwar 8/10 68 Risk Management Services 3/4 69 Risk Research 3/18 70 Robert Gordon Charlett /4 71 Robert Lazzari 2/28 72 Romano Martin 2/10 73 Sandra Chin Yuen Kee 8/20 74 Satchan Ramsaran 7/14 75 SDS Insurance Brokers 7/29 76 Solomon Austin Elder t/a Sasre Financial Services. 7/9 77 Specialists Insurance Brokers 4/27 78 Stephen Castagne 2/25 79 Sterling Insurance Services 7/8 80 Surujdeo Mangaroo 3/14 81 Trinidad & Tobago Insurance Consultants 0/ REPORT ON INSURANCE AND PENSIONS

151 LIST OF REGISTERED BROKERS LIST OF BROKERS REGISTERED UNDER THE INSURANCE ACT CHAP. 84:01 AS AT 31ST DECEMBER 2006 AND THEIR ANNIVERSARY DATES. BROKER ANNIVERSARY Date 82 Trinity Insurance Brokers 3/14 83 Walter E. DeBruin 0/25 84 Wayne Gosine 7/13 85 Winston Siriram 7/8 REPORT ON INSURANCE AND PENSIONS 149

152 APPENDIX D LIST OF REGISTERED ADJUSTERS LIST OF ADJUSTERS REGISTERED UNDER THE INSURANCE ACT CHAP. 84:01 AS AT 31ST DECEMBER 2006 AND THEIR ANNIVERSARY DATES ADJUSTER ANNIVERSARY Date 1 Bertrand Doyle /3 2 Ganesh Rampersad /3 3 Raphael s Investigators, Adjusters & Realtors /25 4 Factfinders Business Investigators /29 5 Insurance Investigators Services 2/25 6 Axis (Eastern Caribbean) 3/17 7 Glen Mohammed 3/23 8 Nebert Marin trading as Survival Management Trinidad 3/24 9 Arman Adjusting Services 5/12 10 Pioneer Insurance Claims Services Company 5/13 11 Adam Sanguinette Claim Consultants 5/24 12 Cariclaims Investigators & Adjusters 7/1 13 Commonwealth Claims Consultant 7/10 14 Jacob Jules trading as Jules Investigators & Adjusters Services 7/18 15 General Adjusters 8/27 16 Liver Rosemin & Company 8/30 17 Clevon Singh trading as Reliance Adjusters & Investigators 9/7 18 Accord Adjusting Company 9/9 150 REPORT ON INSURANCE AND PENSIONS

153 Appendix d LIST OF ADJUSTERS REGISTERED UNDER THE INSURANCE ACT CHAP. 84:01 AS AT 31ST DECEMBER 2006 AND THEIR ANNIVERSARY DATES ADJUSTER ANNIVERSARY Date 19 Mc Larens Young International (T&T) 9/17 20 Peter Bowman 0/18 21 Ezekiel Joseph /23 22 International Business Investigators Services 2/2 23 TwinIsle Adjusters 2/28 24 Orion Adjusters 2/31 REPORT ON INSURANCE AND PENSIONS 151

154 APPENDIX E LIST OF REGISTERED PENSION PLANS LIST OF PENSION PLANS REGISTERED AS AT 31ST DECEMBER 2006 SELFADMINISTERED PENSION FUND PLANS 1. Agostini Insurance Brokers Pension Fund Plan 2. Agostini s Retirement Plan 3 Airports Authority of Trinidad and Tobago Pension Fund 4. Ansa Mc Al Pension Fund Plan 5. Associated Brands Group Pension Fund Plan 6. Atlantic LNG Pension Plan 7 Bank of Commerce Trinidad and Tobago Retirement Plan 8. Bawodes Pension Fund Plan 9. Berger Paints Trinidad Pension Plan (Monthly Paid Employees) 10. BPTT LLC Pension Plan 11. British American Insurance Company (Trinidad) Pension Fund Plan 12. British Gas Trinidad Pension Plan 13. B.W.I.A. Pilots Pension Fund Plan 14. Caribbean Industrial Research Institute Pension Plan 15. Caribbean Ispat Employees Pension Fund Plan 16. Central Bank of Trinidad and Tobago Pension Fund Plan 17. Citibank (Trinidad and Tobago) Pension Fund Plan 18. Coca Cola Bottling (Trinidad and Tobago) Pension Fund Plan 19. Consolidated Insurance Consultants Staff Pension Fund Plan 20. Coopers and Lybrand Pension Fund Plan 21. Courts (Trinidad) Pension Fund Plan 152 REPORT ON INSURANCE AND PENSIONS

155 Appendix e LIST OF PENSION PLANS REGISTERED AS AT 31ST DECEMBER 2006 SELFADMINISTERED PENSION FUND PLANS 22. Cuna Caribbean Insurance Society Pension Fund Plan 23. Development Finance Pension Plan 24. EOG Resources Trinidad Pension Fund Plan 25. E&Y Services Pension Scheme 26. Ferreira Optical Pension Fund Plan 27. First Citizen Bank Pension Plan 28. Guyana and Trinidad Mutual Fire Insurance Company Pension Plan 29. Hand Arnold (Trinidad) Employees Pension Scheme 30. H.S. Services Pension Fund Plan 31. Hydro Agri Trinidad Hourly Paid Employees Pension Scheme 32. Hydro Agri Trinidad Salaried Employees Pension Plan 33. Industrial Agencies Pension Fund Plan 34. IBM Retirement Plan 35. Lever Brothers (West Indies) Pension Plan 36. MandevQualassure Pension Fund Plan 37. Mega Insurance Company Pension Plan 38. MTS Pension FundPlan 39. National Gas Company Pension Fund Plan 40. National Insurance Board Pension Fund Plan 41. National Insurance Property Development Company Pension Fund Plan REPORT ON INSURANCE AND PENSIONS 153

156 Appendix e LIST OF PENSION PLANS REGISTERED AS AT 31ST DECEMBER 2006 SELFADMINISTERED PENSION FUND PLANS 42 National Union of Government and Federated Workers Pension Fund Plan Elected Officers 43. National Union of Government and Federated Workers Staff Pension Fund Plan 44. Neal and Massy Group Pension Plan 45. Nestle Trinidad and Tobago Pension Fund Plan 46. Nestle Trinidad and Tobago Unionised Employees Pension Plan 47. Niherst Pension Fund Plan 48 PCS Nitrogen Trinidad Pension Fund Plan 1 (formerly Arcadian Trinidad ) 49. PCS Nitrogen Trinidad Pension Fund Plan 2 (formerly Trinidad and Tobago Urea) 50. Pheonix Park Gas Processors Pension Plan 51 Point Lisas Industrial Development Corporation Pension Fund Plan 52. Port Authority of Trinidad and Tobago Pension Plan (Daily and Weekly) 53. Port Authority of Trinidad and Tobago Pension Plan (Monthly) 54. Price WaterhouseCoopers Pension Plan 55. RBTT Pension Plan 56. Regional Health Authority Pension Plan 57. Republic Bank of Trinidad and Tobago Pension Plan 58. Scotiabank Trinidad and Tobago Pension Fund Plan 59. Servol Pension Fund Plan 154 REPORT ON INSURANCE AND PENSIONS

157 list of registered pension plans LIST OF PENSION PLANS REGISTERED AS AT 31ST DECEMBER 2006 SELFADMINISTERED PENSION FUND PLANS 60. Telecommunications Services of Trinidad and Tobago Pension Fund Plan 61. Texaco Trinidad Staff Retirement Plan 62. The Demerara Life Assurance Company of Trinidad and Tobago Sales Staff Pension Plan 63. The Home Mortgage Bank Pension Fund Plan 64. The Mercantile Banking and Finance Corporation Pension Fund Plan 65. Thomas Peake and Company Pension Plan 66. Trinidad Building and Loan Association Pension Fund Plan 67. Trinidad Cement Employees Pension Fund Plan 68. Trinidad Hilton Pension Fund Plan 69. Trinidad and Tobago Electricity Commission Pension Fund Plan 70. Trinidad and Tobago Electricity Commission Provident Fund 71. Trinidad and Tobago External Telecommunications Company Pension Fund Plan 72. Trinidad and Tobago Methanol Company Pension Fund Plan 73. Trinidad and Tobago National Petroleum Marketing Company Contributory Pension Plan I 74. Trinidad and Tobago National Petroleum Marketing Company Contributory Pension Plan II 75. Trinidad and Tobago Oil Company Contributory Pension Fund A 76. Trinidad and Tobago Oil Company Contributory Pension Fund B REPORT ON INSURANCE AND PENSIONS 155

158 Appendix e LIST OF PENSION PLANS REGISTERED AS AT 31ST DECEMBER 2006 SELFADMINISTERED PENSION FUND PLANS 77. The Trinidad and Tobago Oil Company Non Contributory Pension Fund 78. Trinidad and Tobago Oil Company Employees Benefit Plan 79. Trinidad and Tobago Oil Company Staff Retirement Plan 80. Trinidad and Tobago Petroleum Company Employees Pension Fund Plan 81. Trinidad and Tobago Petroleum Company Staff Pension Fund Plan 82. Trinidad and Tobago Port Contractors Pension Fund Plan 83. Trinidad and Tobago Telephone Company Staff Pension Fund Plan 84. Trinidad and Tobago Unit Trust Corporation Pension Fund Plan 85. Trinmar Employees Benefit Plan 86. Trintoplan Consultants Staff Pension Plan 87. T. Geddes Grant Pension Fund Plan 88. T. Geddes Grant (Trinidad) Staff Savings and Pension Fund Plan 89. Water and Sewerage Authority Pension Plan 90. West Indian Tobacco Company Pension Plan 91. Y. De Lima & Company Staff Pension Fund Plan 156 REPORT ON INSURANCE AND PENSIONS

159 list of registered pension plans INSURED PENSION FUND PLANS 1. Albrosco Staff Pension Plan 2. All Trinidad Sugar and General Workers Trade Union Staff Pension Fund Plan 3. Alstons Pension Fund Plan 4. Anthony N. Sabga Pension Fund Plan 5 Angostura Bitters (Dr. J. G. B. Siegert & Sons) Pension Fund Plan 6. Armour s Funeral Homes Pension Fund Plan 7. ASA Wright Nature Centre Pension Fund Plan 8. Barbados Mutual Life Assurance Society Employees Pension Plan 9. Bel Air International Airport Hotel Pension Plan 10. Berger Paints Trinidad Pension Fund Plan for WeeklyPaid Employees 11. Bermudez Biscuit Company Pension Plan 12. British High Commission Pension Fund 13. Bristol Myers (West Indies) Pension Fund Plan 14. BWIA General Staff Pension Plan 15. Caribbean Bulk Storage and Trading Company Pension Fund Plan 16. Caribbean Packaging Industries Fund Pension Plan for Senior Staff Employees 17. Caribbean Packaging Industries Pension Fund Plan for Junior Staff Employees 18. CBP Pension Plan 19. Century Eslon Pension Plan 20. Clark & Battoo Pension Plan REPORT ON INSURANCE AND PENSIONS 157

160 Appendix e INSURED PENSION FUND PLANS (continued) 21. Clico Investment Bank Staff Pension Fund Plan 22. C.M.B. Packaging Trinidad Pension Fund Plan 23. Coates Brothers (Caribbean) Pension Plan 24. Colonial Fire and General Insurance Company Pension Plan 25. Colonial Life Insurance Company (Trinidad) Staff Pension Plan 26. Diego Martin Credit Union Cooperative Society Staff Pension Fund Plan 27 Eric Solis Marketing Staff Pension Plan 28. F.T.Farfan and Sons Pension Plan 29. Furness Trinidad Pension Fund Plan 30. Fujitsu ICL Caribbean Trinidad (formerly International Computers ) Pension Fund Plan 31. Grace Kennedy (Trinidad and Tobago) Pension Fund Plan 32. Group Pension Plan for the Managerial Employees of American Life and General Insurance Company (Trinidad) 33. Group Pension Plan for the NonManagerial Employees of American Life and General Insurance Company (Trinidad) 34. Gulf Engineering Services Pension Fund Plan 35. Gulf Insurance Pension Fund Plan 36. Halliburton Trinidad Pension Plan 37. Home Construction Staff Pension Fund Plan 38. Inglefield/Ogilvy Mather Pension Fund Plan 158 REPORT ON INSURANCE AND PENSIONS

161 list of registered pension plans INSURED PENSION FUND PLANS (continued) 39. Insurance Brokers West Indies Pension Fund Plan 40. J. N. Harriman & Company Pension Plan 41. Johnson and Johnson (Trinidad) Staff Pension Plan 42. Joseph Charles Bottling Works and Investments Pension Fund Plan 43. J.T.A. Supermarkets Pension Fund Plan 44. Junior Schools Pension Fund Plan 45. Lake Asphalt of Trinidad and Tobago (1978) (Monthly) Pension Plan 46. Lake Asphalt of Trinidad and Tobago (1978) Employees (Weekly) Pension Plan 47. Lange Trinidad Pension Fund Plan 48. Lazzari and Sampson Pension Plan 49 Life of Barbados Pension Plan 50. L. J. Williams Pension Fund Plan 51. Lonsdale/Saatchi & Saatchi Advertising Staff Pension Plan 52. Maritime Life (Caribbean) Pension Fund Plan 53. Master Mix of Trinidad & Tobago Staff Pension Fund Plan 54. McCann Erickson (Trinidad) Pension Fund Plan 55. Medianet Monthly Paid Staff Pension Plan 56. 3M Interamerica Inc. Trinidad and Tobago Division Pension Fund Plan 57. National Agro Chemicals Pension Fund Plan REPORT ON INSURANCE AND PENSIONS 159

162 Appendix e INSURED PENSION FUND PLANS (continued) 58. National Flour Mills Pension Fund Plan for Employees of the Company 59. National Helicopter Services Pension Fund Plan 60. Navarro s Shipping Pension Plan 61. N.E.M. (West Indies) Pension Fund Plan 62. Oilfields Workers Trade Union Staff Pension Fund Plan 63. Pepsi Cola Trinidad Bottling Company. Pension Plan 64. Perreira & Company Staff Pension Fund Plan 65. Prestige Holdings Pension Fund Plan 66. Print A Pak Pension Plan 67. R. B. P. Elevator and Escalator Pension Plan 68. Rentokil (Trinidad) Pension Fund Plan 69. Rhand Credit Union Cooperative Society Pension Plan 70. Royal Caribbean Insurance Company Group Pension Fund Plan 71. Sealand Service Inc. Pension Plan 72. Selco Pension Fund Plan 73. Stellar Distributors (Trinidad) Staff Pension Plan 74. Small Business Development Company Staff Pension Fund Plan 75. Southern Medical Clinic Pension Fund Plan 76. Southern Sales and Services Company Pension Plan 77. TECU Credit Union Cooperative Society Pension Fund Plan 78. Tatil Life Sales Representatives Pension Plan 160 REPORT ON INSURANCE AND PENSIONS

163 list of registered pension plans INSURED PENSION FUND PLANS (continued) 79. The Agents of American Life and General Insurance Company (Trinidad) Pension Scheme 80. The Beacon Insurance Company Pension Plan for Monthly and Weekly Paid Employees 81. The Group Pension Plan for the NonProfessional Employees of Fitzstone. 82. The Institute of Marine Affairs Pension Plan 83. The Myerson Tooth Company Pension Fund Plan 84. The Synod of the Presbyterian Church in Trinidad Pension Plan 85. The Trinidad Pilots and Berthing Masters Association Pension Fund Plan 86. The University of the West Indies (St. Augustine) Staff Pension Fund Plan 87. Tourism and Industrial Development Company of Trinidad And Tobago Pension Plan 88. Toyota Trinidad and Tobago Staff Pension Plan 89. Trinidad Concrete Products Company Pension Fund Plan 90. Trinidad Contractors Pension Plan 91. Trinidad Express Newspapers Pension Plan 92. Trinidad Nitrogen Company Staff Pension Fund Plan 93. Trinidad Ropeworks Retirement Plan 94. Trinidad Systems Pension Fund Plan 95. Trinidad and Tobago Chamber of Commerce Pension Plan 96. Trinidad and Tobago Forest Products Staff Pension Fund Plan REPORT ON INSURANCE AND PENSIONS 161

164 Appendix e INSURED PENSION FUND PLANS (continued) 97. Trinidad and Tobago Mortgage Finance Company Pension Plan 98. Trinidad and Tobago Solid Waste Management Company Pension Fund Plan 99. United States of America Embassy in Trinidad and Tobago Pension Fund Plan 100. Waste Disposals Pension Fund Plan 101. Western Scientific Company Pension Plan 102. William H. Scott Pension Fund Plan 103. Youth Training Employment Partnership Programme Pension Plan 162 REPORT ON INSURANCE AND PENSIONS

165 list of registered pension plans ANNUITIES 1. A.S. Bryden and Sons (Trinidad) Pension Fund Plan 2. Baroid Trinidad Services Staff Pension Fund Plan 3. Coconut Growers Association Pension Fund Plan 4. Laughlin and De Gannes and its Associated Companies Staff Pension Fund Plan 5. Penta Paints (Caribbean) Pension Plan 6. The Incorporated Trustees of the Anglican Church in the Diocese of Trinidad and Tobago Pension Plan WINDING UP PENSION FUND PLANS 1. Aviation Services Trinidad and Tobago Pension Fund Plan 2. Associated Battery and Metal Industries Trinidad Pension Fund Plan 3. B.H.Rose Pension Fund Plan 4. Bottlers Pension Fund Plan 5. British Airways Staff Pension Plan 6. C. Lloyd Trestrail & Company Pension Plan 7. Cliffs and Associates Pension Plan 8. CTC Electronics Pension Plan 9. Caroni (1975) Employees Pension Plan 10. Caroni (1975) Daily Paid Employees Contributory Pension Plan 11. Caroni (1967) Pension Plan REPORT ON INSURANCE AND PENSIONS 163

166 Appendix e WINDING UP PENSION FUND PLANS 12. Colgate Palmolive (Caribbean) Inc. Pension Fund Plan 13. Colonial Life Insurance Company (Trinidad) Agents Pension Plan 14. Corbin Compton Staff Pension Plan 15. Crown Life Caribbean Employees Pension Fund Plan 16. Employers Consultative Association Pension Fund Plan 17. Electrotec Services Pension Fund Plan 18. F.W. Woolworth Pension Fund Plan 19. George Wimpey Caribbean Pension Plan 20. General Building and Loan Association Staff Pension Fund Plan 21. Goellnicht and Stollmeyer (Marketing) Pension Fund Plan 22. Gordon Grant Staff Pension Plan 23. Guardian Life of the Caribbean Pension Fund Plan 24. Industrial Development Corporation Pension Plan 25. Insurance Consultants. (Antilles Insurance ) 26. International Loss Adjusters Pension Plan 27. KLM (Trinidad and Tobago) Pension Fund Plan 28. Label House Staff Pension Plan 29. Metal Industries Company Pension Plan 30. National Broadcasting Services of Trinidad and Tobago Pension Fund Plan 31. Nationwide Staff A Pension Plan 32. Nationwide Staff B Pension Plan 164 REPORT ON INSURANCE AND PENSIONS

167 list of registered pension plans WINDING UP PENSION FUND PLANS 33. Nationwide Staff C Pension Plan 34. Orange Grove National Company Pension Fund Plan 35. Premier Consolidated Oilfields Pension Plan 36. Rediffusion (Trinidad) Pension Plan 37. Reinsurance Company of Trinidad and Tobago Pension Fund Plan 38. Santana Services Pension Fund Plan 39. Sissons Paints Staff Pension Fund Plan 40. Smith International Inc. Pension Fund Plan 41. Stephen and Ross Pension Fund Plan 42. Super Chem Pension Fund Plan 43. Sherwin Williams (Caribbean) N.V. Pension Plan 44. The National Commercial Bank of Trinidad and Tobago Pension Plan 45. The Shipping Corporation of Trinidad and Tobago Pension Fund Plan 46. Trinidad Broadcasting Company Pension Fund Plan 47. Trinidad and Tobago Oil Company Provident Fund 48 Trinidad and Tobago Television Company Pension Fund Plan 49. Trinidad Shipping Company Pension Fund Plan 50. Trinidad Textile Manufacturing Company Pension Fund Plan 51. Trinidad and Tobago Export Development Corporation Pension Fund Plan REPORT ON INSURANCE AND PENSIONS 165

168 Appendix e WINDING UP PENSION FUND PLANS 52. Trinidad and Tobago Printing and Packaging Company Pension Fund 53. Van Leer Containers Trinidad Pension Fund Plan 54. Victoria Nursing Home Pension Fund Plan 55. Workers Bank of Trinidad and Tobago Pension Fund Plan JUDICIAL MANAGEMENT 1. West Indian National Insurance Company Pension Fund Plan 166 REPORT ON INSURANCE AND PENSIONS

169 TABLES TABLE I REVENUE ACCOUNT IN RESPECT OF LONGTERM INSURANCE 2006 INCOME COMPANIES FUNDS AT THE BEGINNING OF THE YEAR PREMIUMS CONSIDERATION FOR ANNUITIES AND OTHER PREMIUMS DEPOSITS COMMISSION RECEIVED net Interest Other Transfers from Reserves Other Other SINGLE SINGLE LOCAL American Life and General Insurance Co. (T&T) Ltd 890,679,391 (75,705) 80,273,329 62,215, ,413, ,888 40,892,231 8,638,343 1,082,801,123 Bancassurance Caribbean BritishAmerican 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, ,642,951 6,877,792 8,537,396,451 7,999,538 3,267,874 3,365,733 19,953, , ,861,074 59,130,131 95,989 45,952, , ,526,013 13,712 3,129,457,043 6,857, ,479, ,703 3,291,270,810 59,130,131 17,552,870 52,210, ,413 81,939,694 4,363,071 (7,116,495) (18,953,221) (407,285) 486,144, , ,928, ,379,737 7,663,623 12,396,751,771 71,616, Demerara Life Assurance Company of T&T Ltd. Guardian General Insurance Guardian 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. 390,922 2,721,278, ,023, ,903,000 46,282,494 86,402, ,403,831 50, ,507 7,544,896 67,318 18,639, ,185 (6,708) 101,148,538 63,756,399 17,780,659 1,838,830 27,153,865 9,137, , ,392 N O A C C O U N T S U B M I T T E D 42,844,121 1,823,436 66,326 15,248,198 8,738,260 1,049,186 (6,708) 151,603,881 80,895,351 26,518,919 2,888, ,704 2,631,495 48,727,331 55,722,919 65,133, ,810 68,734,389 47,209, , ,392 4, , ,634, ,787, ,234 5,520,670 6,834,378 26,516 4,634 51,260,697 26,384,494 4,065,274 6,392,975 20,694 (314,141) 2,817, ,281 3,422,622, ,564, ,885,201 52,921, ,340, ,237, , , The Western General Insurance Company Ltd. United Security Life Insurance Company Ltd. 16,114,996 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 D 207, , ,411 (739,332) 16,100, CARIBBEAN Life of Barbados Ltd. Sagicor Life Inc. 14,126,655,671 1,696,715,301 29,716, ,502, ,027,949 15,325,578 91,018,943 91,703,880 3,494,796,905 27,528,053 4,115,560,632 1,386, ,085, ,409, ,059,698 5,149, ,927,572 30,706,804 19,678,097,494 2,101,558, OTHER Lincoln Assurance Ltd. Cuna Mutual Insurance Society Sun Life Assurance Company of Canada GRAND 1,696,715, , ,986 15,823,827, ,502,187 15,325,578 91,703,880 27,528, ,059,698 5,149, ,927,572 30,706,804 36, ,219, ,389, ,722,823 3,522,324,958 36,391 4,366,656,721 6,535,647 59, ,072,469 35, ,151,360 2,101,558,826 36,391 36,391 59,399 35, , ,835 21,780,244,155 REPORT ON INSURANCE AND PENSIONS 167

170 TABLES TABLE I continued 1 COMPANIES LOCAL American Life and General Insurance Company (T&T) Ltd. REVENUE ACCOUNT IN RESPECT OF LONGTERM INSURANCE 2006 EXPENDITURE CLAIMS Surrender (including Surrender of Bonuses) DEATH MATURITIES OTHER Total Policy Payments COMMISSIONS Salaries and other Expenses of Management Interest thereon Annuities OTHER EXPENSES Other Funds at the end of the Year 11,700,443 2,714,993 12,163,290 28,463,628 4,070,533 59,112,887 17,516,358 45,581,774 16,101, ,680,419 Transfers to Profit and Loss (10,191,369) 1,082,801,123 2 Bancassurance Caribbean 3,763, ,517 2,597,568 3,218, ,239 10,201,251 (40,392) 2,908, ,679 87,199,578 1,474, ,928,708 3 BritishAmerican Insurance Company (Trinidad) Ltd. 2,223, , ,846 7,041,502 45,857,332 55,969,819 14,148,446 18,064, ,560,614 7,636, ,379,737 4 Caribbean Atlantic Life Insurance Company (T&T) Ltd. 61,000 83, ,984 59, , ,931 6,570, ,113 7,663,623 5 Caribbean Insurance Company Ltd. 6 Colonial Life Insurance Company (Trinidad) Ltd. 79,708,484 73,403,197 6,151,065 1,804,029, ,953,327 2,340,245, ,230, ,031,696 (24,575,987) 9,827,755,416 (46,935,887) 12,396,751,771 7 Cuna Caribbean Insurance Society Ltd. 37,739,949 97, ,003 38,263,521 3,306,415 11,488, ,006 8,092,447 10,238,974 71,616,591 8 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 D 9 Guardian General Insurance 1,412 1,412 (13,850) (19,510) 232, , , Guardian Life of the Caribbean Ltd. 21,316,137 1,638,716 1,604, ,142,305 87,724, ,426,236 82,394, ,151, ,352 2,765,346,249 (60,182,351) 3,422,622, Maritime Life (Caribbean) 5,580,130 13,799,740 12,684,031 13,252,104 11,119,956 56,435,961 14,100,403 57,035,704 1,346, ,858,554 1,787, ,564, Mega Insurance Company 2,923,874 3,091, ,162 10,206,455 16,385,607 1,832,781 13,607, , ,857,992 (9,558,425) 162,885, Nationwide Insurance Company Ltd. 634, ,983 64,163 1,502,975 2,702,286 5,112,627 13,282 1,213,176 42,959,172 3,623,386 52,921, Scotialife Trinidad and Tobago Ltd. 265,719 19,912 5,820,046 6,105, ,939 7,063, ,031,880 (2,027,676) 144,340, Tatil Life Assurance Ltd. 3,837,162 9,942,679 7,014,002 19,448,022 3,852,646 44,094,511 6,799,827 12,792,564 2,010, ,135,871 79,404, ,237, The Beacon Insurance Company Ltd. (28,500) (28,500) 5,917 41,219 20,715 64,846 91, , The Reinsurance Co. of Trinidad and Tobago Ltd. 27,260 27,260 13,966 61, ,096 66, , The Western General Insurance Co. Ltd. United Security Life Insurance Co. Ltd. 439,316 24,054 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 D ,208 54, ,556 53,531 15,504,429 16,100, ,222, ,901,037 42,880,608 2,188,864, ,520,691 3,040,389, ,475, ,246,653 (3,440,481) 15,827,382,017 (23,956,012) 19,678,097,494 CARIBBEAN Life of Barbados Ltd. Sagicor Life Inc. 12,555,230 12,555,230 13,906,870 13,906,870 2,258,882 2,258,882 64,485,600 64,485,600 61,116,625 61,116, ,323, ,323,207 25,867,986 25,867,986 39,900,932 39,900,932 1,810,294,686 1,810,294,686 71,172,014 71,172,014 2,101,558,825 2,101,558,825 OTHER Cuna Mutual Insurance Society Sun Life Assurance Company of Canada 46,301 46,301 64,065 64, , ,366 72,371 72, , ,317 (60,219) (60,219) 587, ,835 GRAND 182,823, ,807,907 45,203,555 2,253,350, ,637,316 3,194,823, ,343, ,219,956 (3,440,481) 17,638,142,020 47,155,783 21,780,244, REPORT ON INSURANCE AND PENSIONS

171 TABLES TABLE II REVENUE ACCOUNT IN RESPECT OF ORDINARY LIFE, PENSION AND ANNUITY INSURANCE 2006 INCOME COMPANIES FUNDS AT THE BEGINNING OF THE YEAR PREMIUMS CONSIDERATION FOR ANNUITIES PREMIUMS COMMISSION RECEIVED NET Interest Other Transfers from Reserves Other Other SINGLE SINGLE LOCAL 1. American Life and General Insurance Company (T&T) Ltd 684,353,955 (75,705) 72,259,137 23,842,066 96,025,498 30,154,249 8,638, ,172, Bancassurance Caribbean 73,491, ,112 3,365,733 95, ,107 3,707,940 14,885,251 (6,037,026) 86,047, BritishAmerican Insurance Company (Trinidad) Ltd. 354,046,374 19,087, ,526, ,613,921 51,775,955 (18,735,651) 625,700, Caribbean Atlantic Life Insurance Co. (T&T) Ltd. 6,877, ,991 13, , ,413 (407,285) 7,663, Colonial Life Insurance Company (Trinidad) Ltd. 832,884, ,270, ,270,947 6,707, ,862, Cuna Caribbean Insurance Society Ltd. 7,999, , ,453 1,715, ,851 10,500, 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 D 8. Guardian Life of the Caribbean Ltd. 621,220,932 (37,864) 101,148,538 42,844,121 66, ,021,121 40,217,335 64,576, ,036, Maritime Life (Caribbean) Ltd. 744,198,656 67,318 54,361,665 1,823,436 15,248,198 71,500,617 49,056,235 26,085, ,841, Mega Insurance Company Ltd. 123,903,000 17,780,659 8,738,260 26,518, ,234 5,520,670 6,834, ,885, Nationwide Insurance Company Ltd. 46,282,494 1,838,830 1,049,186 2,888,016 4,065,274 (314,141) 52,921, Scotialife Trinidad and Tobago Ltd. 86,402,443 14,949,905 27,153, ,704 2,631,495 45,037,969 5,908,934 2,817, ,166, Tatil Life Assurance Ltd. 325,910,837 4,152,224 55,722,919 59,875, ,810 35,457,884 22,031, ,031, The Reinsurance Co. of Trinidad and Tobago Ltd. 574, , ,392 20, , The 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 D 16 United Security Life Insurance Company Ltd. 16,114, , , ,411 (739,332) 16,100,516 3,924,260,678 15,021, ,601,782 45,066, ,966, ,656, , ,974, ,875,214 5,074,630, CARIBBEAN Life of Barbados Ltd. Sagicor Life Inc. 1,285,128, ,502,187 91,703, ,206,067 4,047,877 88,816,039 35,623,570 1,621,821,618 1,285,128, ,502,187 91,703, ,206,067 4,047,877 88,816,039 35,623,570 1,621,821,618 OTHER Lincoln Assurance Ltd. Cuna Mutual Insurance Society Sun Life Assurance Company of Canada 456, ,986 21,886 21,886 21,886 21,886 59,399 59,399 35,059 35, , ,330 GRAND 5,209,845, ,523, ,623, ,770, ,966,283 1,005,884,033 4,911, ,849, ,533,843 6,697,025,014 REPORT ON INSURANCE AND PENSIONS 169

172 TABLES TABLE II continued REVENUE ACCOUNT IN RESPECT OF ORDINARY LIFE, PENSION AND ANNUITY INSURANCE 2006 EXPENDITURE COMPANIES CLAIMS Surrender (including Surrender of Bonuses) Annuities Policy Payments Other EXPENSES OTHER Commissions Salaries and other Expenses of Management Funds at the end of the Year Transfers to Profit and Loss DEATH MATURITIES Other LOCAL 1. American Life and General Insurance Company (T&T) Ltd 5,361,313 2,714,993 12,163,290 23,644,145 43,883,741 11,139,804 30,972,368 15,989, ,133,781 (14,946,709) 819,172, Bancassurance Caribbean 1,387, ,517 2,597,568 3,218, ,239 7,824,660 (40,392) 1,572, ,655 72,278,347 4,270,246 86,047, BritishAmerican Insurance Company (Trinidad) Ltd. 2,114, , ,550 7,040,352 45,857,332 55,835,885 13,726,731 17,972, ,811,001 7,354, ,700, Caribbean Atlantic Life Insurance Co. (T&T) Ltd. 61,000 83, ,984 59, , ,931 6,570, ,113 7,663, Colonial Life Insurance Company (Trinidad) Ltd. 13,539,675 11,181,855 1,304,052 12,283,132 38,308,714 15,036,077 47,548, ,969, ,862, Cuna Caribbean Insurance Society Ltd. 74,647 97, , ,219 26,708 1,335,016 89,225 8,092, ,810 10,500, 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 D 8. 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, ,081, ,600,264 (60,746,148) 870,036, 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, ,118, , ,841, Mega Insurance Company Ltd. 2,923,874 3,091, ,162 10,206,455 16,385,607 1,832,781 13,607, , ,857,992 (9,558,425) 162,885, Nationwide Insurance Company Ltd. 634, ,983 64,163 1,502,975 2,702,286 5,112,627 13,282 1,213,176 42,959,172 3,623,386 52,921, Scotialife Trinidad and Tobago Ltd. 242,482 19,912 5,820,046 6,082,440 6,528, ,845,955 (3,290,186) 140,166, 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, ,429,523 40,237, ,031, The Reinsurance Co. of Trinidad and Tobago Ltd. 27,260 27,260 13,966 61, ,096 66, , The 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 D 16 United Security Life Insurance Company Ltd. 439,316 24, , ,982 53,531 15,559,003 16,100,516 53,002,067 43,655,740 26,594, ,760, ,969, ,982, ,350, ,572,149 19,396,849 4,288,756,730 (31,428,295) 5,074,630, CARIBBEAN Life of Barbados Ltd. Sagicor Life Inc. 10,079,032 13,906,870 2,258,882 64,485,600 33,511, ,242,224 22,808,431 36,763,425 1,402,667,130 35,340,408 1,621,821,618 10,079,032 13,906,870 2,258,882 64,485,600 33,511, ,242,224 22,808,431 36,763,425 1,402,667,130 35,340,408 1,621,821,618 OTHER Lincoln Assurance Ltd. Cuna Mutual Insurance Society Sun Life Assurance Company of Canada 16,801 16,801 62,629 62,629 79,430 79,430 72,371 72, , ,317 (43,788) (43,788) 573, ,330 GRAND 63,097,900 57,562,610 28,916, ,246, ,481, ,304, ,158, ,977,002 19,396,849 5,691,889,177 3,868,325 6,697,025, REPORT ON INSURANCE AND PENSIONS

173 TABLES TABLE III REVENUE ACCOUNT IN RESPECT OF INDUSTRIAL LIFE INSURANCE 2006 INCOME COMPANIES FUNDS AT THE BEGINNING OF THE YEAR PREMIUMS CONSIDERATION FOR ANNUITIES PREMIUMS COMMISSION RECEIVED NET Interest Other Transfers from Reserves LOCAL Other Other SINGLE SINGLE BritishAmerican Insurance Company (Trinidad) Ltd. 3,559, , , ,454 (211,013) 4,024,159 Colonial 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 N The 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 D 3,559, , , ,454 (211,013.00) 4,024,159 EXPENDITURE COMPANIES CLAIMS Surrender (including Surrender of Bonuses) DEATH MATURITIES OTHER Bonuses paid in Cash Annuities Total Policy Payments OTHER EXPENSES Commissions Salaries and other Expenses of Management Other Funds at the end of the Year Transfers to Profit and Loss LOCAL BritishAmerican Insurance Company (Trinidad) Ltd. 42,237 23, ,150 67, ,808 48,655 3,701,930 (1,872) 4,024,159 Colonial 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 N The 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 D 42,237 23, ,150 67, ,808 48,655 3,701,930 (1,872) 4,024,159 REPORT ON INSURANCE AND PENSIONS 171

174 TABLES TABLE IV REVENUE ACCOUNT IN RESPECT OF NONCANCELLABLE, SICKNESS AND ACCIDENT INSURANCE 2006 INCOME COMPANIES FUNDS AT THE BEGINNING OF THE YEAR PREMIUMS PREMIUMS COMMISSION RECEIVED NET Interest Other LOCAL SINGLE Other American Life and General Insurance Company (T&T) Ltd. 2,158,624 26,840,184 26,840, ,888 84,135 29,260,831 BritishAmerican Insurance Company (Trinidad) Ltd. 37, , ,284 5,022 (6,557) 654,979 Maritime Life (Caribbean) Ltd. 5,577,127 5,577,127 5,577,127 2,195, ,036, ,036, , , (6,557.00) 35,492, EXPENDITURE COMPANIES Total other expenses Policy Payments COMMISSIONS Expenses of Management OTHER FUNDS AT THE END OF THE YEAR TRANSFERS TO PROFIT AND LOSS LOCAL American Life and General Insurance Company (T&T) Ltd. 3,338,742 5,301,757 8,150,827 2,551,522 9,917,983 29,260, BritishAmerican Insurance Company (Trinidad) Ltd. 66, ,907 43,672 47, , , Maritime Life (Caribbean) Ltd. 4,849, , , ,305 5,577, ,254, ,736, ,629, ,599, ,273, ,492, REPORT ON INSURANCE AND PENSIONS

175 TABLES TABLE V REVENUE ACCOUNT IN RESPECT OF GROUP LIFE INSURANCE 2006 INCOME COMPANIES FUNDS AT THE BEGINNING OF THE YEAR PREMIUMS CONSIDERATION FOR ANNUITIES AND OTHER DEPOSITS PREMIUMS COMMISSION RECEIVED NET Interest Other Transfers from Reserves Other Other SINGLE SINGLE LOCAL American Life and General Insurance Company (T&T) Ltd. 48,367 8,014,192 8,014,192 2,000 8,064,559 Bancassurance Caribbean Ltd. 11,143,520 3,149,763 3,149,763 2,667,619 (1,079,469) 15,881,433 Colonial Life Insurance Company (Trinidad) Ltd. 18,481,432 7,590,127 7,590,127 76,466 26,148,025 Cuna Caribbean Insurance Society Ltd. 30,171,911 30,171,911 2,365,768 32,537,679 Guardian General Insurance 390,922 (6,708) (6,708) 4, ,281 Guardian Life of the Caribbean Ltd. 5,828,769 7,582,759 7,582, ,829 (199,857) 13,400,500 Maritime Life (Caribbean) Ltd. 812, , ,593 1,110,740 Scotialife Trinidad and Tobago Ltd. 3,689,362 3,689, ,041 4,173,403 Tatil Life Assurance Ltd. 462,724 87,957 2,368,627 2,456,584 7,288,846 4,024,140 14,232,294 The Beacon Insurance Company Ltd. 20, , ,166 26,516 4, ,227 36,375,734 14,509,841 49,060, ,570,303 26,516 13,082,182 3,043, ,098,142 CARIBBEAN Sagicor Life Inc. 2,257,340 15,325,578 15,325,578 1,101,574 49, ,834 19,255,732 2,257,340 15,325,578 15,325,578 1,101,574 49, ,834 19,255,732 OTHER Sun Life Assurance Company of Canada 14,505 14,505 14,505 14,505 14,505 14,505 GRAND 38,633,074 14,509,841 64,400, ,910,386 1,128,090 13,131,588 3,565, ,368,379 REPORT ON INSURANCE AND PENSIONS 173

176 TABLES TABLE V continued REVENUE ACCOUNT IN RESPECT OF GROUP LIFE INSURANCE 2006 EXPENDITURE COMPANIES CLAIMS Surrender (including Surrender of Bonuses) LOCAL DEATH MATURITIES OTHER Annuities Total Policy Payments OTHER EXPENSES Other Transfers Commissions Expenses of Management Funds at the end of the Year to Profit and Loss 1. American Life and General Insurance Company (T&T) Ltd. 3,000,388 3,000,388 1,031,036 3,226, ,994 48, ,055 8,064, Bancassurance Caribbean Ltd. 2,376,591 2,376,591 1,336,003 43,025 14,921,231 (2,795,416) 15,881, Colonial Life Insurance Company (Trinidad) Ltd. 11,729,009 11,729, ,862 10,021, ,210 18,481,431 (15,278,093) 26,148, Cuna Caribbean Insurance Society Ltd. 21,674,443 21,674, ,106 5,241, ,054 5,054,054 32,537, Guardian General Insurance 1,412 1,412 (13,850) (19,510) 232, , , Guardian Life of the Caribbean Ltd. 3,424,941 3,424, ,131 2,892,418 5,964, ,313 13,400, Maritime Life (Caribbean) Ltd. 80,000 80,000 37,475 64, ,771 1,110, Scotialife Trinidad and Tobago Ltd. 23,237 23, , ,792 2,185,925 1,262,510 4,173, Tatil Life Assurance Ltd. 294, ,542 81, , , ,324 12,731,454 14,232, The Beacon Insurance Company Ltd. (28,500) (28,500) 5,917 40,433 17,291 50,200 75, ,227 42,524,562 51,500 42,576,062 2,922,089 23,593,997 1,019,224 42,351,826 3,634, ,098,142 CARIBBEAN 1. Sagicor Life Inc. 2,476,198 2,476,198 3,059,555 2,533,692 2,358,040 8,828,247 19,255,732 2,476,198 2,476,198 3,059,555 2,533,692 2,358,040 8,828,247 19,255,732 OTHER 1. Sun Life Assurance Company of Canada 29,500 1,436 30,936 (16,431) 14,505 29,500 30,936 14,505 GRAND 45,030,260 51,500 45,083,196 5,981,644 26,127,689 1,019,224 44,709,866 12,463, ,368, REPORT ON INSURANCE AND PENSIONS

177 TABLES TABLE VI REVENUE ACCOUNT IN RESPECT OF GROUP PENSION INSURANCE 2006 INCOME COMPANIES FUNDS AT THE BEGINNING OF THE YEAR NET PREMIUM PREMIUM COMMISSION RECEIVED NET INTEREST Other LOCAL 1. American Life and General Insurance Company (T&T) Ltd. 204,118,445 11,533,396 11,533,396 10,651, ,303, Colonial Life Insurance Company (Trinidad) 6,702,607,490 3,120,456,979 3,120,456,979 41,318, ,460,000 10,369,843, Guardian Life of the Caribbean Ltd. 89,468,288 2,831,778 (2,805,073) 89,494, Maritime Life (Caribbean) Ltd. 46,825,246 3,005,460 3,005,460 2,204,462 52,035, Tatil Life Assurance Ltd. 19,915,025 2,801,742 2,801,742 18,457,370 9,937,972 51,112,109 7,062,934,494 3,137,797,577 3,137,797,577 75,464, ,592,899 10,788,789,383 EXPENDITURE COMPANIES CLAIMS Surrender (including Surrender of Bonuses) DEATH OTHER Annuities Total Policy Payments OTHER EXPENSES Other Transfers to Profit Expenses of and Loss Commissions Management Funds at the end of the Year LOCAL American Life and General Insurance Company (T&T) Ltd. 4,819,483 4,070,533 8,890,016 43,761 3,231,691 (5,808,698) 219,946, ,303,688 Colonial Life Insurance Company (Trinidad) Ltd. 54,439,800 62,221,342 1,791,746, ,546,050 2,212,953, ,922, ,694,091 7,941,272,753 10,369,843,425 Guardian Life of the Caribbean Ltd. 761, , ,890 (258,516) 88,039,318 89,494,992 Maritime Life (Caribbean) Ltd. 1,046,498 1,046, ,596 13,725 50,740,349 52,035,168 Tatil Life Assurance Ltd. 1,913,716 1,913,716 1, , ,142 26,435,257 21,841,008 51,112,109 55,201,099 63,267,840 1,796,566, ,530,299 2,225,565, ,967, ,497, ,142 20,381,769 8,321,840,346 10,788,789,382 REPORT ON INSURANCE AND PENSIONS 175

178 TABLES TABLE VII REVENUE ACCOUNT IN RESPECT OF DEPOSIT ADMINISTRATION CONTRACTS/UNIT LINKED FUNDS 2006 INCOME COMPANIES FUNDS BROUGHT FORWARD CONTRIBUTIONS INTEREST Other LOCAL 1. Colonial Life Insurance Company (Trinidad) Ltd. 983,423,485 54,952,757 33,837,111 (19,315,184) 1,052,898, 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 D 3. Guardian Life of the Caribbean Ltd. 2,004,760, ,397, ,215,112 2,449,372, Sagicor Life Inc. 409,329,896 27,528,053 29,062,127 (5,438,601) 460,481, Tatil Life Assurance Ltd. 105,008, ,317,125 11,194, ,520,839 3,502,523,212 82,480, ,613, ,656,045 4,086,273,463 EXPENDITURE COMPANIES AnnuitY PURCHASED Surrender of Units Claims Administration Fees Commissions Paid MANAGEMENT EXPENSES Other FUNDS CARRIED FORWARD LOCAL Colonial Life Insurance Company (Trinidad) Ltd. 72,407,277 4,847,013 (600,000) 11,767,945 (56,555,991) 1,021,031,925 1,052,898,169 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 D Guardian Life of the Caribbean Ltd. 28,559, ,565,439 56,387 57, ,906, ,352 2,027,741,968 2,449,372,981 Sagicor Life Inc. 27,604, ,815 27,003, ,269, ,481,475 Tatil Life Assurance Ltd. 0 1,729,085 5,491, ,300, ,520, ,571, ,294,524 10,395,014 (542,643) 118,278,068 (29,066,280) 3,570,343,548 4,086,273, REPORT ON INSURANCE AND PENSIONS

179 TABLES TABLE VIII LONGTERM INSURANCE BUSINESS INSURANCE DISCONTINUED OR REDEEMED DURING 2006 COMPANIES NUMBER OF POLICIES SUM ASSURED Death Surrender Forfeiture Lapsed Maturities Miscellaneous Death Surrender Forfeiture Lapsed Maturities Miscellaneous LOCAL 1. American Life and General Insurance Company (T&T) Ltd ,111 1, ,074 5,996,394 51,630, ,917, ,048,435 2,988, ,143, ,725, Bancassurance Caribbean Ltd ,092,705 79,977,433 2,458,402 8,436, , ,496, ,888, BritishAmerican Insurance Company (Trinidad) Ltd , ,285 1,990,500 10,721, , ,893, ,400 2,710, ,260, Caribbean Atlantic Life Insurance Company (T&T) Ltd , , , , ,641 46,226 1,299, Colonial Life Insurance Company (Trinidad) Ltd ,412 1,231 1,530 2,114 9,946 13,269, ,667, ,556,703 18,925,618 98,998, ,418, CUNA Caribbean Insurance Society Ltd ,000 1,792,661 5,103,120 20,000 1,741,934 8,748, 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 D 8. Guardian General Insurance 9. Guardian Life of the Caribbean Ltd ,803 6,891 1, ,789 15,428, ,761, ,292, ,793,390 2,280, ,488,408 1,868,045, Maritime Life (Caribbean) Ltd ,262 4,762,984 23,505,849 8,038, ,152,995 5,030,079 57,874, ,364, Mega Insurance Company Ltd ,116 2,370,272 8,256,032 5,926,709 71,470,692 1,146, ,539 89,440, Nationwide Insurance Company Ltd Scotialife Trinidad and Tobago Ltd ,000 6,038, ,000 4,910, ,000 12,363, Tatil Life Assurance Ltd ,846 1,731,216 23,756,876 82,104,129 6,861,572 26,036, ,489, The Beacon Insurance Company Ltd. (5,785,427) (5,785,427) 16. The Reinsurance Company of T&T ,260 3,316,524 3,343,784 1,359 9,664 8,394 8,827 3,209 3,136 34,589 48,946, ,454, ,088,408 1,471,751,441 38,688,972 1,325,329,357 4,435,258,715 CARIBBEAN 1. Life of Barbados 2. Sagicor Life Inc , ,851 10,659,790 24,947, ,076, , , ,514, , ,851 10,659,790 24,947, ,076, , , ,514,919 OTHER 1. Sun Life Assurance Company of Canada ,672 45, ,672 45,672 GRAND 1,452 9,908 8,394 11,320 3,230 3,137 37,441 59,651, ,401, ,088,408 1,875,827,978 39,420,213 1,325,429,357 4,875,819,306 REPORT ON INSURANCE AND PENSIONS 177

180 TABLES TABLE IX COMPANIES LOCAL 1 American Life and General Insurance Company (T&T) Ltd. 2. Bancassurance Caribbean Ltd. 3. BritishAmerican 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 9. Guardian Life of the Caribbean Ltd. 10. Maritime Life (Caribbean) Ltd. 11. Mega Insurance Company Ltd. 12. Nationwide Insurance Company 13. Tatil Life Assurance Ltd. 14. Scotialife Trinidad and Tobago Ltd. 15. The Reinsurance Company of Trinidad and Tobago Ltd. 16 The Beacon Insurance Company Ltd. CARIBBEAN 1. Life of Barbados Ltd. 2. Sagicor Life Inc. OTHER 1. Lincoln Assurance Ltd. 2. Sun Life Assurance Company of Canada GRAND Number of Policies 6, ,063 16, ,424 4,064 1,401 1,809 3,298 59,754 6,904 6,904 66,658 INSURANCE IN FORCE 2006 NEW INSURANCE ISSUED DURING THE YEAR INSURANCE EXISTING Sum Assured or Amounts of Annuity per Annum Annual Premiums Single Premiums and Consideration Number of Policies Sum Assured or Amounts of Annuity per Annum 819,518,652 51,291 6,026,346, ,366, ,167 1,460,993 5,063 1,618,773, ,827, ,627,364 40,931 2,305,487, ,687,541 1,100,392,260 63,075,101 2,471,153, ,411 11,829,602, ,021,774 2,822,005 1,601 7,704,474,984 N O A C C O U N T S S U B M I T T E D 3,611,475, ,367, , ,919 15,521,705, ,142,360 12,123, ,101 35,289 2,635,552,942 81,170,613 3,116,408 20,726 1,449,335,128 (21) 80,344,216 4,029,593 37,217 2,674,809, ,269,180 40,636,190 18,061,309 8, ,521,806 9,349 54,616, ,730,925 8,187,529, ,997,166 2,491,548, ,815 52,648,644,462 1,233,638,621 51,107 5,726,404,648 1,233,638,621 51,107 5,726,404, ,726, ,726,386 9,421,167, ,997,166 2,491,548, ,950 58,376,775, REPORT ON INSURANCE AND PENSIONS

181 TABLES TABLE X COMPANIES LOCAL 1. American Life and General Insurance Company (T&T) Ltd. 2. Bancassurance Caribbean Ltd. 3. BritishAmerican Insurance Company (Trinidad) Ltd. 4. Caribbean Atlantic Life Insurance Company 5. Colonial Life Insurance Company (Trinidad) 6. 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 Company 11. Scotialife Trinidad and Tobago Ltd. 12. Tatil Life Assurance Ltd. CARIBBEAN 1. Life of Barbados Ltd. 2. Sagicor Life Inc. GRAND LONGTERM INSURANCE ANNUITY BUSINESS 2006 NUMBER OF POLICIES ANNUITY PER ANNUM GENERAL ANNUITIES Approved Immediate Deferred Approved Pension Annuities (Immediate) Annuity per Annum Pension Annuities (Deferred) Other GENERAL ANNUITIES Approved Immediate Deferred Approved Pension Annuities (Immediate) Annuity per Annum Pension Annuities (Deferred) Other , ,664 3,598,310 2,530,281 6,128, , , ,959 19,979 43, ,631 64,631 10,400 95, , ,203,511 1,229,581,104 1,334,784,615 N O A C C O U N T S S U B M I T T E D 5,316 39, ,534 57,203,890 5,505,052 6,032,852 68,741,794 1,566 6, ,358 9,498,973 53,383,320 62,882,293 6,851 6,851 (14) (14) 1,364 1,364 11,655, , ,898 4,009, ,022, , ,741,445 18, , , ,753,353 1,615,146,956 9,272,631 1,792,474,813 16,414 16,414 16,414 16,414 18, , , ,753,353 1,615,146,956 9,272,631 1,792,474,813 REPORT ON INSURANCE AND PENSIONS 179

182 TABLES TABLE XI STATEMENT OF STATUTORY FUND 2006 LIABILITIES TO POLICYHOLDERS (LONGTERM BUSINESS) COMPANIES POLICY RESERVES DEDUCTIONS LOCAL American Life and General Insurance Company (T&T) Ordinary Life Industrial Life Non Cancellable Sickness and Accident OTHER Claims admitted or intimated but not paid Other Reserves Total Reserves Outstanding Premiums Policy Loans Other Deductions Total FUND REQUIREMENT 451,112,214 GROUP Life 48,198 GROUP PENSION 219,946, ,573, ,680,419 22,832,890 30,105,239 1,007,618,548 13,369,038 88,840, ,209, ,408,821 Bancassurance Caribbean 87,199,578 87,199,578 7,068, ,923, ,191, ,721 14,366, ,125 15,299, ,891,596 BritishAmerican Insurance Company ( Trinidad ) Caribbean Atlantic Life Insurance Company (T&T) 6,570,637 6,570, ,836 7,436,113 14,169,586 7, ,961 50, ,792 13,307,794 Caribbean Insurance Company Colonial Life Insurance Company (Trinidad) 846,969,307 18,481,431 7,941,272,753 1,021,031,925 9,827,755,416 16,699,325 27,015,892 9,871,470,633 (886,751) 86,660, ,873, ,647,860 8,919,822,773 Cuna Caribbean Insurance Society 8,092,447 43,320,864 51,413,311 19,315,192 1,439,253 72,167,756 4,875,399 2,959,917 5,890 7,841,206 64,326,550 Demerara Life Assurance Company of T&T Guardian General Insurance 232, , , ,818 Guardian Life of the Caribbean 2,765,346, ,960,067 3,364,306,316 56,397,810 3,420,704,126 18,039,968 20,044, ,397 39,011,517 3,381,692,609 Maritime Life (Caribbean) 818,858,554 7,009, ,868,123 9,745,202 11,725, ,339,153 12,621,565 46,682,353 59,303, ,035,235 Mega Insurance Company 139,857, ,857,992 3,781, , ,123,561 95,156 7,174, ,579 7,642, ,481,214 Nationwide Insurance (Casualty & General) Co. Nationwide Life Insurance Co. 43,157,533 1,241,250 44,398,783 44,398,783 39,314 5,668,633 5,707,947 38,690,836 Scotialife Trinidad and Tobago 133,031, ,031,880 86, , ,365,524 23,782 23, ,341,742 Tatil Life Assurance 350,429, ,324 21,841, ,535, ,273,218 15,546,521 7,501, ,320, ,170 14,518,417 1,336,117 16,483, ,837,058 The Beacon Insurance Company 50,200 14,646 64, , , ,937 The Reinsurance Company of Trinidad & Tobago 531, , , ,096 United Security Life Insurance Company 15,504,429 1,143,921 16,648, ,819 16,922,169 11,718 11,718 16,910,451 5,666,894,257 19,047,153 8,184,219,244 2,543,672,129 16,413,832, ,877, ,151,684 16,918,861,530 49,043, ,731, ,270,030 1,206,045,000 15,712,816,530 CARIBBEAN Life 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 D Sagicor Life Incorporated 447,418,571 2,358, ,269, ,137,320 1,840,183,447 1,840,183,447 2,649,245 22,496,974 25,146,219 1,815,037, ,418,571 2,358, ,269, ,137,320 1,840,183,447 1,840,183,447 2,649,245 22,496,974 25,146,219 1,815,037,228 OTHER Lincoln Assurance Ltd. Sun Life Assurance Company of Canada N O T W R I T I N G B U S I N E S S GRAND 6,114,312,828 21,405,193 8,589,488,760 3,528,809,449 18,254,016, ,877, ,151,684 18,759,044,977 51,692, ,228, ,270,030 1,231,191,219 17,527,853, REPORT ON INSURANCE AND PENSIONS

183 TABLES TABLE XIA STATEMENT OF STATUTORY FUND 2006 SECURITIES HELD IN TRUST (LONGTERM BUSINESS) COMPANIES Trinidad and Tobago Government securities Mortgages REAL ESTATE Trinidad and Tobago Equities Fixed Deposits Other Trinidad and Tobago Local Assets Total Trinidad and Tobago Local Assets Caricom Assets Other Caricom Assets denoted in Foreign Currency Total Local Assets Local Assets Ratio Foreign Government Securities OTHER Foreign ASSETS Foreign ASSETS ASSETS IN FUND 1 LOCAL American Life and General Insurance Company (T&T) 617,800,256 93,000,000 1,597,103 70,539,574 29,571, ,508,020 3,812, ,320, ,078,574 94,078, ,399, Bancassurance Caribbean 11,398, ,769 27,500, ,771,092 1,932,421 85,742, ,008, ,008, ,178,319 69,178, ,186, BritishAmerican Insurance Company ( Trinidad ) Caribbean Atlantic Life Insurance Company (T&T) 2,756,188 11,226,072 13,982,260 13,982, ,982, Caribbean Insurance Company 6. Colonial Life Insurance Company (Trinidad) 4,100, ,381, ,641, ,459,911, ,716, ,304,689 6,251,055, ,982,277 7,143,037, ,783,964, ,783,964,555 8,927,002, Cuna Caribbean Insurance Society 4,145,276 12,409,334 39,054,241 55,608,851 6,432,655 3,832,390 65,873, ,873, Demerara Life Assurance Company of Trinidad and Tobago 9. Guardian General Insurance 633, , , , Guardian Life of the Caribbean 92,919, ,892, ,472,724 1,754,255, ,266, ,550,959 3,103,357, ,885,953 3,282,243, ,282,243, Maritime Life (Caribbean) 212,269,190 51,191, ,607, ,517, ,425,000 16,605, ,615, ,615, ,761, ,761, ,376, Mega Insurance Company 23,162,245 1,941,616 27,296,243 44,135,240 1,650,000 9,530, ,716, ,716, ,795,021 3,795, ,511, Nationwide Insurance (Casualty & General) Co. 14. Nationwide Life Insurance Company 22,811,854 7,200,000 3,261,579 14,181,129 47,454,562 47,454, ,454, Scotialife Trinidad and Tobago 30,756,607 71,509,804 1,441,771 46,868, ,577, ,577, ,577, Tatil Life Assurance 51,068,336 54,706,065 16,000, ,066, ,949, ,791, ,791, ,011,333 8,011, ,802, The Beacon Insurance Company 512, , , , The Reinsurance Company of Trinidad & Tobago 587, , , , United Security Life Insurance Company 5,500, ,861 1,207,071 6,309,272 13,410,204 13,410, ,410,204 1,078,688, ,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, ,268,226 1,901,521,005 2,072,789,231 15,268,040,295 CARIBBEAN 1. Life of Barbados Ltd. 2. Sagicor Life Incorporated 256,675, ,071, ,422, ,228, ,929, ,239,942 1,908,567,700 1,908,567, ,908,567, ,675, ,071, ,422, ,228, ,929, ,239,942 1,908,567,700 1,908,567,700 1,908,567,700 OTHER 1. Lincoln Assurance Ltd. 2. Sun Life Assurance Company of Canada GRAND 1,335,363, ,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, ,268,226 1,901,521,005 2,072,789,231 17,176,607,995 MORE OR LESS THAN REQUIREMENT 4,990,682 5,294, ,466 7,179,289 1,547, ,868 (99,449,224) 5,341,282 (24,969,852) 8,763,726 17,235,325 (368,034,679) 206,063 55,937 (3,500,247) (444,776,234) 93,530,472 93,530,472 (350,733,762) REPORT ON INSURANCE AND PENSIONS 181

184 TABLES TABLE XII COMPANIES LOCAL American 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 Ltd Guardian General Insurance Gulf Insurance Ltd. Maritime General Insurance Company Ltd. Motor & General Insurance Company Ltd. Motor One Insurance Company Nationwide Insurance (Casualty & General) Co. Ltd. N.E.M. (West Indies) Insurance Ltd. Royal Caribbean Insurance Ltd. Sagicor General Insurance Inc. The Beacon Insurance Company Ltd 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 Ltd. The Western General Insurance Company Ltd. Trinidad & Tobago Insurance Ltd. CARIBBEAN United Insurance Company GRAND REVENUE ACCOUNT IN RESPECT OF MOTOR INSURANCE 2006 REVENUE EXPENDITURE AMOUNT OF FUND AT THE BEGINNING OF YEAR Unearned Premium Reserve 6,570,393 Outstanding Claims Reserve 3,964,601 Commissions Received 28,830 Premiums 18,878,624 Interest Dividends and Rents Other Profit total and Loss Adjustments (28,091) 29,414,357 Payment of Claims Includung Legal and Medical Expenses 7,471,915 Commissions Other Transfers Expenses of Management to Profit and Loss Account AMOUNT OF FUND AT END OF YEAR Unearned Premium Reserve Outstanding Claims Reserve 2,591, ,745 1,176,145 3,515,476 9,374,808 4,594,779 8,810,902 35,366,130 31,227, ,918 5,650,939 48,849,491 5,447,836 20,329,687 6,326,307 7,149,601 6,046,074 20,336,073 13,536, ,791 3,269,992 72,744,691 5,489,997 37,440,301 3,544,534 1,451,337 4,550 1,063,125 3, ,080 4,094,444 14,183,400 55,316,086 92,462,324 2,196,472 14,716, ,642,495 10,148,008 69,018,216 14,310,143 20,549,004 4,683, ,311 3,932, , ,837 2,401,581 1,859,003 7,351,952 1,647, ,964 3,291,581 1,242 29,044, ,701,754 12,522,882 49,393,089 2,375,674 3,731, ,343 1,165,654 I N L I Q U I D A T I O N 141,158,947 38,864,175 9,402,963 3,966, ,064 92,472 28,529,010 6,092,368 2,265, ,642,763 76,034,030 20,198,857 23,123,924 5,183, , ,234,600 34,639,780 13,163,245 10,029,573 35,857,803 9,132, ,746 29,986,906 8,791,550 1,350,351 3,690,701 8,039,525 1,158,995 27,510, ,037 3,367,618 19,224,564 6,143,908 7,562,482 4,683,392 4,854,248 6,659 (9,258,960) 2,779,220 1,780,179 3,639,185 1,713,490 (1,685,068) 10,425,694 1,701,665 9,908,549 31,389,345 41,691, ,198 9,490,511 60,044,591 5,832,783 30,054,867 6,953,317 10,936,827 13,141,824 32,407,381 20,910, ,812 3,674,305 77,427,231 6,674,275 42,388,530 14,316,801 2,352,265 11,425,959 7,275,266 3,744,172 8,669,403 7,568,620 3,020,304 37,119, ,110,840 3,561,701 8,732,824 11,924,125 2,032,841 6,928,158 8,416,511 5,840,481 36,635, ,876,186 36,004 4,873 44,687 12,030 29,145 5,500,031 32,441,758 15,876,082 9,778,183 21,077,800 21,343,459 15,898,001 79,498, ,334,693 52, , , ,995 8,467 3,623,134 22,849 52,636,545 17,731,733 4,042,847 35,408,114 5,979,491 1,810,341 2,915,869 U N D E R I N T E R V E N T I O N 391,983 16,365,466 4,667, ,859 3,665,059 N O A C C O U N T S S U B M I T T E D 1,728,778 38,448,826 7,539,847 3,445,725 3,902, ,713 38,583,298 12,543, ,635 8,286,827 1,069,877 25,840,693 5,180,728 2,065,970 4,123,553 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 D 11,381, ,663,405 44,110,870 11,382,362 5,571,914 37,547,673 3,568,445 13,459,021 1,206,396, ,688,741 80,751, ,710, , ,700 1,811,293 4,400,719 1,921, ,468 14,365,026 35,733,967 14,128,422 9,853,481 4,514,514 13,708,912 8,385,495 7,348,970 43,540, ,693,116 3,600,285 12,332,824 12,466,270 2,983,736 9,830,218 8,212,420 7,121,472 45,692, ,580, ,110, ,876,186 5,500, ,334,693 37,547,673 3,568,445 13,459,021 1,206,396, ,688,741 80,751, ,710,658 1,811,293 35,733, ,693, ,580,628 total 29,414,357 41,639, ,701,755 1,165, ,158,947 3,966,762 28,529, ,642,763 23,123, ,234,598 35,857,803 29,986,906 3,623,134 52,636,545 35,408,114 16,365,466 38,426,826 38,583,298 25,840, ,663,405 1,218,969,591 1,218,969, REPORT ON INSURANCE AND PENSIONS

185 TABLES TABLE XIII STATEMENT OF STATUTORY FUND LIABILITY OF POLICYHOLDERS AND ASSETS HELD IN TRUST MOTOR INSURANCE 2006 COMPANIES FUNDS AT END OF YEAR DEDUCTIONS ASSETS HELD IN FUND LOCAL American 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 Guardian General Insurance Gulf Insurance Maritime General Insurance Company Ltd. Motor and General Insurance Company Ltd. Motor One Insurance Company Nationwide Insurance (Casualty & General) Co. Ltd. Royal Caribbean Insurance Ltd. Sagicor General Insurance Inc. The Beacon Insurance Company. 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 The Western General Insurance Company Ltd. Trinidad and Tobago Insurance Ltd. Unearned Premium Reserve 8,430,877 9,908,549 28,535,768 14,503,409 41,279, ,591 9,490,511 60,044,591 5,832,783 30,054,867 6,953,317 10,936,827 14,128,422 9,853,481 4,514,514 13,708,912 8,385,495 7,348,970 43,540,669 Estimated Liability in respect of outstanding Claims 4,594,779 13,141,824 32,407,381 2,550,000 20,910, ,812 3,674,305 77,427,231 6,674,275 42,388,530 14,316,801 2,352,265 3,600,285 12,332,824 12,466,270 2,983,736 9,830,218 8,212,420 7,121,472 45,692,564 Other Total Amount Other Fund Liability held on Deductions Requirements Deposit 943,931 2,853, ,791 33,607 13,969,587 23,050,373 63,796,726 17,053,409 62,602, ,010 13,164, ,471,822 12,507,058 72,443,397 21,270,118 13,289,092 3,600,285 26,461,246 22,319,751 7,498,250 23,539,130 16,597,915 14,470,442 89,233,233 4,409,346 13,975,933 4,460,455 40,689,377 1,190,722 3,972,972 59,155,041 4,383,034 27,226,528 4,326,639 8,223, ,157 14,854,152 7,584,707 2,387,821 5,853,318 6,165, ,293 39,521,491 1,045,221 4,255,020 1,095, ,600 6,361, ,377 1,977,746 19,445,076 4,319, ,999 7,063,640 1,389, ,022 4,900,804 6,879,217 1,910,701 12,924,366 14,386,007 48,725,036 11,874,354 15,551,503 (928,089) 7,214,098 58,871,705 3,804,782 45,216,869 16,943,479 4,257,193 3,325,128 1,754, ,642 1,954,077 4,543,454 7,157,164 7,157,164 13,345,920 1,099,000 7,690,105 8,789,105 I N L I Q U I D A T I O N 4,754,407 3,795,414 3,795,414 N O T W R I T I N G B U S I N E S S 12,785,008 5,000,000 6,236,149 11,236,149 3,553,464 1,455,081 1,455,081 11,632,448 6,958,786 6,958,786 49,711,742 Trinidad and Tobago Government Securities 10,398, , ,000 3,310,277 5,692,007 Fixed Deposits 1,000,000 2,500,000 22,230,700 1,608,235 1,221,318 Other Trinidad and Tobago Assets 1,609,890 3,152,201 39,712,893 1,561,017 15,116, , ,421 30,791,578 3,754,195 41,607,713 5,540,119 2,967,301 88,462,251 Total Trinidad and Tobago Assets 12,008,803 3,152,201 41,406, ,000 18,426, ,988 3,155,421 58,714,285 5,362,430 41,607,713 6,761,437 2,967,301 88,462,251 Caricom Assets 2,205,291 Total Local Assets 12,008,803 3,152,201 41,406, ,000 1,561,017 18,426, ,988 3,155,421 60,919,576 5,362,430 41,607,713 6,761,437 2,967,301 1,954,077 7,157,164 8,789,105 3,795,414 11,236,149 1,455,081 6,958,786 88,462,251 Foreign Assets 876,900 3,787,140 1,717,147 Total Assets 12,008,803 3,152,201 41,406, ,000 1,561,017 18,426, ,988 3,155,421 61,796,476 5,362,430 45,394,853 6,761,437 2,967,301 3,671,224 7,157,164 8,789,105 3,795,414 11,236,149 1,455,081 6,958,786 88,462,251 CARIBBEAN GRAND 327,952, ,130,628 4,243, ,327, ,583,120 63,251, ,492,874 28,198,632 32,355, ,167, ,160,827 2,205, ,927,135 6,381, ,308, ,952, ,130,628 4,243, ,327, ,583,120 63,251, ,492,874 28,198,632 32,355, ,167, ,160,827 2,205, ,927,135 6,381, ,308,322 More or (less) than Fund Requirements (915,563) (11,233,806) (7,318,143) 250,000 (10,313,337) 2,874,826 1,468,077 (4,058,677) 2,924,771 1,557, ,984 (10,182,042) (1,289,892) 346,096 2,613,710 (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

186 TABLES TABLE XIV UNDERWRITING RESULTS IN RESPECT OF MOTOR INSURANCE 2006 COMPANIES Unearned Premium (Beginning of year) Net Premium Written Unearned Premium (end of year) Net Premiums Earned (1+2)3 Net Claims paid during the year Claims outstanding (end of year) Claims outstanding (beginning of year) Net Claims Incurred (5+6)7 8 as a % of 4 Expenses of Management and Net Commissions 10 as a per cent of 4 Total Premium Payments (8+10) 12 as a % of 4 Profit or (Loss) (412) Profit or (Loss) per cent LOCAL American 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 Co. Ltd. Guardian General Insurance Gulf Insurance Ltd. Maritime General Insurance Company Ltd. Motor and General Insurance Company Ltd. Motor One Insurance Company Nationwide Insurance (Casualty & General) Company Ltd. N.E.M. (West Indies) Insurance Ltd. Royal Caribbean Insurance Ltd. Sagicor General Insurance Inc. The Beacon Insurance Company Ltd 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 Ltd. The Western General Insurance Company Ltd. Trinidad & Tobago Insurance Ltd. 6,570,393 8,810,902 35,366,130 31,227, ,918 5,650,939 48,849,491 5,447,836 20,329,687 6,326,307 7,149,601 11,425,959 7,275,266 3,744,172 8,669,403 7,568,620 3,020,304 37,119, ,110,840 18,878,624 14,183,400 55,316,086 92,462,324 2,196,472 14,716, ,642,495 10,148,008 69,018,216 14,310,143 20,549,004 32,441,758 15,876,082 9,778,183 21,077,800 21,343,459 15,898,001 79,498, ,334,693 9,374,808 9,908,549 31,389,345 41,691, ,198 9,490,511 60,044,591 5,832,783 30,054,867 6,953,317 10,936,827 14,128,422 9,853,481 4,514,514 13,708,912 8,385,495 7,348,970 43,540, ,693,116 16,074,209 13,085,753 59,292,871 81,998,082 2,220,192 10,876, ,447,395 9,763,061 59,293,036 13,683,133 16,761,778 29,739,295 13,297,867 9,007,841 16,038,291 20,526,584 11,569,335 73,076, ,752,417 7,471,915 12,522,882 49,393,089 38,864, ,064 6,092,368 76,034,030 5,183,771 34,639,780 9,132,547 8,791,550 22,849 17,731,733 5,979,491 4,667,298 7,539,847 12,543,754 5,180,728 44,110, ,688,741 4,594,779 13,141,824 32,407,381 20,910, ,812 3,674,305 77,427,231 6,674,275 42,388,530 14,316,801 2,352,265 % % % % 3,600,285 3,561,701 61,433 12,332,824 8,732,824 21,331, ,466,270 11,924,125 6,521, ,915, U N D E R I N T E R V E N T I O N 2,983,736 2,032,841 5,618, ,665, N O A C C O U N T S S U B M I T T E D 9,830,218 6,928,158 10,441, ,902, ,212,420 8,416,511 12,339, ,286, ,121,472 5,840,481 6,461, ,123, ,692, ,580,628 3,964,601 6,046,074 20,336,073 36,635, ,876,186 8,102,093 19,618,633 61,464,397 I N L I Q U I D A T I O N 13,536,314 46,238, , , ,269,992 6,496, ,744,691 80,716, ,489,997 6,368, ,440,301 39,588, ,544,534 19,904, ,451,337 9,692, ,167, ,393, , ,745 3,690,701 8,039,525 1,158,995 27,510, ,037 3,367,618 19,224,564 6,143,909 7,562,482 4,683,392 4,854,248 N O A C C O U N T S S U B M I T T E D 5,571, ,710, ,791,838 23,309,334 69,503,922 1,158,995 73,748, ,122 9,864,299 99,941,134 12,511,958 47,150,491 24,588,206 14,546,726 61,433 21,331,733 9,437,505 9,283,252 14,344,031 20,626,490 10,585,272 58,739, ,103, ,722 7,282,371 (10,223,581) (10,211,051) (1,158,995) 8,249,489 1,641,070 1,012,665 19,506,261 (2,748,897) 12,142,545 (10,905,073) 2,215,052 (61,433) 8,407,562 3,860,362 (275,411) 1,694,260 (99,905) 984,063 14,337,221 45,648, (78.13) (17.22) (28.16) (79.70) (3.06) (0.49) CARIBBEAN 1 United Insurance Company GRAND 255,110, ,334, ,693, ,752, ,688, ,580, ,876, ,393,184 1, ,710, ,103,842 1,722 45,648, REPORT ON INSURANCE AND PENSIONS

187 TABLES TABLE XV REVENUE ACCOUNT IN RESPECT OF OTHER THAN LONG TERM OR MOTOR INSURANCE COMPANIES LOCAL American Life and General Insurance Co. (T&T) Ltd. Bankers Insurance Company (T&T) Ltd. BrtishAmerican 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 Ltd Guardian General Insurance Guardian Life of the Caribbean Ltd. Gulf Insurance Ltd. Maritime General Insurance Company Ltd. Mega Insurance Company Ltd Nationwide Insurance (Casualty & General) Co. Ltd. N.E.M. (West Indies) Insurance Ltd. Royal Caribbean Insurance Ltd. Sagicor General Insurance Inc. The Beacon Insurance Company Ltd 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 Reinsurance Company of T&T Ltd. The Western General Insurance Company Ltd. Trinidad & Tobago Insurance Ltd. CARIBBEAN Sagicor Life Inc. United Insurance Company Ltd GRAND FUND AT THE BEGINNING OF YEAR Unearned Premium Reserve 21,882,603 2,546, ,443 29,024 14,603,256 52, ,352 4,417,366 20,460,312 10,620,898 1,969,047 4,187,946 43,449 8,758,101 10,862,575 25,507 1,138,530 1,427,775 9,209, ,000,308 8,319,446 3,365,234 11,684, ,684,988 Outstanding Claims Reserve 15,288,444 1,600,837 3,752, ,487 2,308,935 49,864,276 12,983,478 7,399,897 9,009,275 1,020,231 3,413,832 6,184,836 56, ,664 3,893,282 20,701, ,503,532 3,581,863 3,581, ,085,395 Commissions Received 12,630,066 1,118,422 32,119 18,494,010 2,071,920 4,065,898 18,153,484 1,011,071 7,241, ,297 8,097,014 12,407,269 14,348 3,430,441 3,842,419 7,103, ,419, ,745 7,767,967 8,050, ,470,262 REVENUE Premiums 61,335,769 5,882,876 2,348, ,628 69,285,099 2,085,090 2,337,147 6,634,146 61,022, ,346,982 2,887,405 6,615,847 Net Interest Other P&L Transfer from Profit & Loss Account Expenses of Management EXPENDITURE Commissions Reserve for N O A C C O U N T S S U B M I T T E D 3,201 3,659,577 4,412, ,384,404 15, ,403 1,184, ,380 19,632 38,647 15,907,547 13,496,586 49,673,080 5,055,945 12,186,088 5,453,034 26,435,996 2,183,745 3,876,228 61,950,649 10,001,637 7,021,535 19,426,922 1,306,946 4,841,539 N O A C C O U N T S S U B M I T T E D 59,642 3, ,182 (560) 1,807 29,545 45,893 N O A C C O U N T S S U B M I T T E D 2,030,229 1,059,137 8,532, ,805 1,997,155 2,369,370 9,204, ,244 18,783,101 1,839,780 1,709,390 3,381,463 2,611,613 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 D 31,184,379 11,815,080 80,013,871 14,311,304 6,086,233 5,784,418 18,903, ,728,242 22,136,368 3,198,335 55,360, ,347, ,257, ,807, ,978,793 7,981,141 96,832,476 48,263,940 11,341,599 59,605, ,333,781 (61,188) 62,134 1,182, , , ,771 1,296, , ,734 2,849,849 2,849,849 24,986,217 (11,352) (17,535) 78,190 2,481,823 19, ,897 1,505,800 1,505,800 4,704,135 1,738, ,802,823 17,653,271 13,918,498 8,099,520 19,247, ,639 1,353, ,359 3,394,850 1,499, , , ,027 I N L I Q U I D A T I O N 107,317,462 54,863,127 17,565,035 2,451,559 (64,177) 717,674 5,934, ,412 1,347,497 20,312,939 1,708,884 2,945,079 8,079, ,895,765 30,420,653 22,263,974 15,576, ,175, ,938,943 50,011,365 13,796, ,110 1,349,699 1,366,912 29,126,076 3,635,655 4,630, ,514 3,411,956 4,226,470 59,587,347 59,186,445 32,318,468 91,504,913 1,022,852,124 Payment of Claims Includung Legal and Medical Expenses 35,478,391 4,233,359 39,711, ,969,290 4,205,745 4,533,441 8,739, ,546,637 14,185,058 2,076, ,620 7,662,149 1,621,010 1,331,260 5,051,426 19,854,066 10,307,026 1,748,074 6,577,735 4,186,702 1,260,104 5,446, ,425,599 Other P&L 5,615,355 1,058, , ,026 8,909,167 Transfer to Profit & Loss Account 17,433, , ,780 (26,271) 8,270, , ,430 1,608,415 7,150,268 18,360,584 4,227, ,102 9,108,349 12,671,752 21,780, ,612,577 Unearned Premium FUND AT AT END OF YEAR 28,303,310 1,031, ,119 47,014 14,255, ,879 2,087,715 5,503,100 21,483,143 14,537,253 1,757,394 4,771,460 27,538 14,651,681 14,725,883 25,687 1,871,271 3,323,375 10,576, ,937,419 6,207,288 5,058,065 11,265, ,202,772 Reserve for Outstanding Claims 15,693, ,457 97,827 4,701, ,895 3,496,034 57,723,659 20,961,360 3,920,423 8,738, ,146 12,326,332 4,626,187 56,810 1,403,400 5,917,480 24,351, ,979,684 3,633,721 3,633, ,613, ,802,823 6,653,123 3,394, , ,317,462 2,451,559 5,934,209 20,312, ,895, ,175,372 13,796,344 29,126,078 4,412,524 1,184,805 49,673,080 61,950, ,182 8,554,001 18,783,101 80,013, ,774,503 59,186,475 32,318,468 91,504,943 1,010,279,446 REPORT ON INSURANCE AND PENSIONS 185

188 TABLES TABLE XVI REVENUE ACCOUNT IN RESPECT OF PROPERTY INSURANCE 2006 COMPANIES REVENUE EXPENDITURE 1 LOCAL American Life and General Insurance Company (T&T) Ltd. FUND AT THE BEGINNING OF YEAR Unearned Premium Reserve Premiums Transfer NET Interest Other from total Profit & Loss Account 4,781,143 Outstanding Claims Reserve 3,581,522 11,547,021 Commissions Received 9,849,313 (295,340) 29,463,659 Payment of Claims Includung Legal and Medical Expenses 2,393,277 Commissions Other Transfer to 5,889,563 Expenses of Management 7,251,852 1,264,085 Profit & Loss Account 4,365,597 FUND AT END OF YEAR Reserve for Unearned Premium 6,010,868 Reserve for Outstanding Claims 2,288,417 total 29,463,659 2 Bankers Insurance Company (T&T) Ltd. (154,554) 784, ,070 1,057,983 1,879,182 97, , , , , ,943 2,566,204 3 BritishAmerican Insurance Co. Trinidad Ltd. 23, ,979 36,621 (3,624) 145,394 1,003,336 71, , , ,232 1,003,336 4 Capital Insurance Ltd. 25, ,628 32, , ,027 (26,271) 43, ,784 5 Citizen Insurance Company Ltd. I N L I Q U I D A T I O N 6 Colonial Fire & General Insurance Company Ltd. 6,355,362 1,358,827 6,790,154 16,576, ,372 31,881,395 1,846,669 10,108,494 5,598,782 6,068,739 6,676,053 1,582,658 31,881,395 7 Furness Anchorage General Insurance Ltd. 158, , ,449 1,275,072 38, ,311 2,618, , , , , ,439 2,618,982 8 GTM Fire Insurance Co. Ltd. 3,050, ,284 3,040,095 3,588, ,860 1,433,895 12,182, ,710 2,331,855 3,895, ,573 3,325,450 1,621,352 12,182,671 9 Guardian General Insurance 6,740,559 4,739,517 13,043,840 14,548, ,693 14,477 39,271,223 3,203,620 12,362,017 10,358,139 34,410 7,693,602 5,619,435 39,271, Gulf Insurance Ltd. 1,326,936 4,353,707 2,230, , ,574 9,168, ,723 1,217,392 1,350,318 2,462,247 1,328,350 2,182,139 9,168, Maritime General Insurance Company Ltd. 1,921,225 3,933,784 2,993,342 6,916, , ,284 16,184, ,535 3,893,944 5,363,057 2,250,486 3,870,127 16,184, Nationwide 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 D 14 Sagicor General Insurance Inc. 4,096,777 1,221,977 (774,700) 4,360,277 9,050,287 17,954,618 1,893,332 6,764,351 6,796,833 2,500,102 17,954, Royal Caribbean Insurance Ltd. 457,313 6, ,114 47,521 19,632 38, , , The Beacon Insurance Company Ltd 2,288,036 1,645,272 3,688,486 5,417, ,620 2,613,188 16,639,271 1,622,530 2,743,876 8,777, ,167 2,724, ,633 16,639, The Goodwill General Insurance Company Ltd. N O A C C O U N T S S U B M I T T E D 18 The Great Northern Insurance Company Ltd. 24,645 56,250 59,642 14,348 3, ,258 (560) 1,807 29,004 45,510 25,687 56, , The Mountain General Insurance Company Ltd. N O A C C O U N T S S U B M I T T E D 20 The New India Assurance Company (T&T) Ltd. 909, ,036 1,540,150 3,422, ,653 7,017, ,339 1,945,594 2,277,179 1,568, ,084 7,017, The Reinsurance Company of T&T Ltd. 366, ,201 1,444,536 1,176,663 3,921,117 (947,147) 853, ,361 1,042, ,450 1,992,138 3,921, Trinidad & Tobago Insurance Ltd. 4,328,957 3,560,935 7,119,654 5,107,482 6,632,908 26,749,936 1,713,649 4,230,216 3,247,335 9,804,997 5,540,330 2,213,409 26,749,936 36,244,439 27,761,514 54,375,193 74,191,921 9,651,027 1,149,408 13,364, ,737,618 15,046,786 54,058,455 50,739,342 1,370,252 24,547,564 45,740,436 25,920, ,423,833 1 CARIBBEAN United Insurance Company 1,180,227 1,048,513 4,459,153 7,340,234 2,174,156 16,202,283 1,036,642 3,458, , ,993 7,183,585 1,890, ,781 16,202,283 1,180,227 1,048,513 4,459,153 7,340,234 2,174,156 16,202,283 1,036,642 3,458, , ,993 7,183,585 1,890, ,781 16,202,283 GRAND 37,424,666 28,810,027 58,834,346 81,532,155 11,825,183 1,149,408 13,364, ,939,901 16,083,428 57,517,029 51,700,678 2,078,245 31,731,149 47,630,808 26,884, ,626, REPORT ON INSURANCE AND PENSIONS

189 TABLES TABLE XVII REVENUE ACCOUNT IN RESPECT OF MISCELLANEOUS GENERAL INSURANCE 2006 COMPANIES REVENUE EXPENDITURE 1 LOCAL American Life and General Insurance Company (T&T) Ltd. FUND AT THE BEGINNING OF YEAR Unearned Premium Reserve 17,345 Outstanding Claims Reserve Premiums Commissions Received NET Interest Dividends & Rent Other Transfer from Profit & Loss Account Payment of Claims Includung Legal and Medical Expenses Expenses of Management Transfer to Profit & Loss Account FUND AT END OF YEAR Commissions Other Reserve for Unearned Premium Reserve for OUTSTANDING CLAIMS 19,759 54,665 1,051,968 (11,814) 1,131,923 7, , , , ,004 35,300 16,589 1,131,923 2 Bankers Insurance Company (T&T) Ltd. 4,667,947 4,667, , ,675 1,619,852 3 BritishAmerican Insurance Co. Trinidad Ltd. 16, ,170 3,334 (1,710) 468,271 18,912 20, , ,780 39, ,271 4 Capital Insurance Ltd. 1,981 1,981 3,986 3,986 5 Citizen Insurance Company Ltd. I N L I Q U I D A T I O N 6 Colonial Fire & General Insurance Company Ltd 423, , , ,694 53,307 2,655, , , , , , ,233 2,655,602 7 Export Import Bank of Trinidad and Tobago Co. Ltd. 52,801 2,085, ,478 78,190 2,451,559 (64,177) 1,621, , ,879 2,451,559 8 Furness Anchorage General Insurance Ltd. 150, ,289 2,267 61, ,798 (2,306) 132, , , ,798 9 Gulf Insurance Ltd 10 Guardian General Insurance 2,730,417 3,835,986 14,981,347 1,639, , ,307,280 3,857,205 3,815,269 2,951,188 5,409,166 2,726,204 4,548,249 23,307, GTM Fire Insurance Co. Ltd 158,235 97, , ,590 15,382 94,312 1,428,836 37, , , , , ,211 1,428, Maritime General Insurance Company Ltd 1,424, , , Nationwide Insurance (Casualty & General) Co. Ltd. 37,444 2,396,484 14,002 88, ,000 N O A C C O U N T S S U B M I T T E D 430,924 1,187, ,728 2,396, N.E.M. (West Indies) Insurance Ltd. 43,449 3, ,297 3,659,577 4,412, ,384,404 27,538 4,412, Royal Caribbean Insurance Ltd. 399,775 5,945 18, ,120 36, , , Sagicor General Insurance Inc. 1,701, ,503 6,708,480 3,538,665 12,648, ,424 4,166,383 2,919,866 3,401,710 1,839,058 12,648, The Beacon Insurance Company Ltd. 1,843,584 47,938 2,462,173 2,774, ,994 8,349 7,352,657 21,560 1,251,517 1,921, ,009 1,638,450 1,830, ,882 7,352, The Great Northern Insurance Company Ltd The Mountain General Insurance Company Ltd. N O A C C O U N T S S U B M I T T E D 20 The New India Assurance Company (T&T) Ltd. (50) (50) (50) (50) 21 The Reinsurance Company of Trinidad &Tobago Ltd. 130,665 7, , ,663 7,639 18,020 60, ,034 98, , Trinidad and Tobago Insurance Ltd. 89, ,680 1,756, ,950 2,237, ,554 47, ,839 1,247, , ,981 2,237,964 8,633,899 6,476,179 35,510,749 10,926,818 4,601, ,446 88,596 66,397,302 5,200,217 11,014,484 8,921, ,702 18,806,716 10,466,610 8,428,206 63,351,213 CARIBBEAN 1 Sagicor Life Inc. 1,079, ,745 1,505, ,514 3,682, ,346 1,114, , , ,400 3,682,351 2 United Insurance Company Ltd. 78, ,211 3,428, , ,686 1,026,876 5,554, , , , , ,997 1,553,147 1,266,553 5,554,619 78, ,211 4,507, , ,686 1,505,800 1,841,390 9,236,970 1,687,899 1,793, , ,946 1,567,272 2,289,547 1,266,553 9,236,970 GRAND 8,712,775 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, ,648 20,373,988 12,756,157 9,694,759 72,588,182 REPORT ON INSURANCE AND PENSIONS 187

190 TABLES TABLE XVIII REVENUE ACCOUNT IN RESPECT OF LIABILITY INSURANCE 2006 COMPANIES REVENUE EXPENDITURE 1 LOCAL American Life and General Insurance Company (T&T) Ltd. FUND AT THE BEGINNING OF YEAR Unearned Premium Reserve 985,266 Outstanding Claims Reserve 4,335,920 Premiums 2,616,372 Commissions Received 1,222,178 NET Interest Other (19,461) Transfer from Profit & Loss Account Payment of Claims Includung Legal and Medical Expenses 1,341,496 Expenses of Management 477, , ,398 FUND AT END OF YEAR Commissions Other Reserve for Unearned Premium 9,140, ,577 Transfer to Profit & Loss Account 1,291,755 Reserve for OUTSTANDING CLAIMS 4,320,087 9,140,275 2 Bankers Insurance Company (T&T) Ltd. 2,700, , ,628 8,099,520 12,414, , , , , , ,514 2,404,905 3 Capital Insurance Ltd Colonial Fire & General Insurance Company Ltd. 2,357,434 1,558,570 4,374,049 1,030, ,887 9,617,675 1,127, ,846 2,076, ,891 2,218,039 2,403,994 9,617,675 5 Furness Anchorage General Insurance Ltd. 376,696 42,281 1,508, ,559 63, ,516 2,718,111 14, , , ,141 1,225,041 23,456 2,718,111 6 GTM Fire Insurance Co. Ltd. 1,170,546 1,366,155 2,695, , , ,974 6,514, , , , ,506 1,713,802 1,698,721 6,514,991 7 Guardian General Insurance 11,109,453 40,588,943 32,273, , ,708 3,006 7,593,468 93,029,437 23,247,400 4,999,723 5,392,531 1,706,693 11,165,347 46,517,742 93,029,436 8 Gulf Insurance Ltd. 623,446 2,366, ,315 95, ,798 4,007, , , ,941 1,180, ,717 1,574,340 4,007,050 9 Maritime General Insurance Company Ltd. 803,621 3,767,349 2,624, ,564 1,189,201 8,664,763 2,757, , ,941 1,292,226 3,603,391 8,664, Nationwide Insurance (Casualty & General) Co. Ltd. N O A C C O U N T S S U B M I T T E D 11 N.E.M. (West Indies) Insurance Ltd. 12 Royal Caribbean Insurance Ltd. 163,143 2, , , ,014 78, , Sagicor General Insurance Inc. 2,172,875 1,342,449 7,919, ,272 3,808,934 15,422,599 1,989, ,345 1,407,812 3,501,865 7,687,269 15,422, The Beacon Insurance Company Ltd 3,040,732 2,913,919 10,327,053 1,371, ,843 18,174,860 2,176,742 1,488,391 4,642, ,367 1,857,250 4,898,614 2,644,102 18,174, The Great Northern Insurance Company Ltd The Mountain General Insurance Company Ltd. N O A C C O U N T S S U B M I T T E D 17 The New India Assurance Company (T&T) Ltd. 247, , ,056 84,023 1,485, ,759 48,405 84, , ,363 1,485, Trinidad & Tobago Insurance Ltd. 3,741,801 14,166,459 7,660,776 1,221,141 2,394,937 29,185,114 4,659,733 1,361,135 1,172,511 (482,415) 3,566,417 18,907,733 29,185,114 29,330,971 74,100,082 74,057,141 6,363,082 4,838, ,519 21,062, ,672,375 38,848,654 11,697,751 16,488, ,478 9,471,380 32,461,631 90,994, ,662,308 CARIBBEAN 1 United Insurance Company Ltd. 1,991,267 2,336,462 3,151, ,677 2,385,080 10,093,016 2,429, , ,113 74,466 4,327,729 1,493,011 1,303,747 10,093,016 1,991,267 2,336,462 3,151, ,677 2,385,080 10,093,016 2,429, , ,113 74,466 4,327,729 1,493,011 1,303,747 10,093,016 GRAND 31,322,238 76,436,544 77,208,671 6,363,082 5,067, ,519 23,447, ,765,391 41,277,833 12,061,522 16,589, ,944 13,799,109 33,954,642 92,298, ,755, REPORT ON INSURANCE AND PENSIONS

191 TABLES TABLE XIX REVENUE ACCOUNT IN RESPECT OF PERSONAL ACCIDENT INSURANCE 2006 COMPANIES REVENUE EXPENDITURE LOCAL American Life and General Insurance Company (T&T) Ltd. BrititshAmerican Insurance Company (Trinidad) Ltd Capital Insurance Ltd. Colonial Fire & General Insurance Company Ltd. Furness Anchorage General Insurance Ltd. GTM Fire Insurance Co. Ltd. Guardian General Insurance Maritime General Insurance Company Ltd. Mega Insurance Company Ltd. FUND AT THE BEGINNING OF YEAR Unearned Premium Reserve 15,396, ,840 2,529 9,100 Outstanding Claims Reserve Premiums Transfer from Profit & Loss Account 1,780,013 32,067, ,607 (66,467) 49,683,662 3,238,179 5,358,490 1,632,044 3,972,657 11,935,968 20,196,388 3,349,936 17, ,395 8,270 7,201 13,799 Commissions Received 5, ,497 Interest dividends and rent 16, ,470 Other , ,809 8,270 15, ,293 Payment of Claims Includung Legal and Medical Expenses 11,292 Commissions Other Reserve for 86, ,074 4,867 Expenses of Management 112,622 1,048 6, ,575 Transfer to Profit & Loss Account 125,760 6,309 1,883 FUND AT END OF YEAR Unearned Premium 96, ,748 6,851 Reserve for OUTSTANDING CLAIMS 13,167 49,683, ,809 8,270 15, ,293 Nationwide Insurance (Casualty & General) Co. Ltd. N O A C C O U N T S S U B M I T T T E D N.E.M. (West Indies) Insurance Ltd. Sagicor General Insurance Inc. 24,048 62,555 86,603 11,529 45,691 29,383 86,603 The Beacon Insurance Company Ltd 1,898, ,305 5,355, ,875 1,254,691 9,147,211 5,020, , ,091 11,178 2,153, ,092 9,147,211 The New India Assurance Company (T&T) Ltd , ,000 Trinidad and Tobago Insurance Ltd. 22,530 8,626 71,052 24,243 21, ,996 2,266 10, ,939 21,060 7, ,996 The Western General Insurance Company Ltd ,481,735 2,340,818 37,870, , ,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 59,769,095 CARIBBEAN United Insurance Company Ltd. 8, ,572 1,319 29,795 2, ,548 8, ,795 8, ,572 1,319 29,795 2, ,548 8, ,795 GRAND 17,489,986 2,341,471 37,890, , ,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

192 TABLES TABLE XIXA REVENUE ACCOUNT IN RESPECT OF GROUP HEALTH INSURANCE 2006 INCOME COMPANIES FUND AT BEGINNING OF YEAR Unearned Premium Reserve Outstanding Claims Reserve PREMIUMS COMMISSION RECEIVED NET Interest Other Transfer from Profit & Loss Account LOCAL American Life and General Insurance Company (T&T) Ltd ,671 5,571,230 15,050,380 (61,188) 381, ,738, ,383,304 2 Colonial Fire & General Insurance Company Ltd. 5,216,466 56,599,424 61,815,890 3 Guardian Life of the Caribbean 10,544, ,369, , ,561,878 4 Trinidad and Tobago Insurance Ltd. 572,370 1,739,891 10,562,072 1,521,064 14,395,397 6,491,507 17,855, ,581, ,459,876 1,029, ,156,468 CARIBBEAN Life of Barbados 1 Sagicor Life Inc. 8,319,446 47,184,648 55,504, ,319,446 47,184,648 55,504,094 GRAND 14,810,953 17,855, ,766,184 1,459,876 1,029, ,660,562 EXPENDITURE COMPANIES FUND AT END OF YEAR LOCAL American Life and General Insurance Company (T&T) Ltd. Payment of Claims Including Legal and Medical Expenses COMMISSIONS OTHER Reserve for Expenses of Management Unearned Premium Reserve for Outstanding Claims 1 10,672,947 1,671,980 4,533,234 17,809 Transfer to Profit & Loss Account 0 769,000 5,718,334 23,383,304 Colonial Fire & General Insurance Company Ltd. 51,479,471 6,104,134 (607,182) 0 0 4,839, ,815,890 2 Guardian Life of the Caribbean 84,018,622 12,847,960 8,928, ,421 18,360, ,421, ,561,877 3 Trinidad and Tobago Insurance Ltd 7,116, , , ,403, ,307 1,897,935 14,395, ,287,248 20,965,058 13,599,340 1,002,230 21,763,866 6,500,774 22,037, ,156,468 CARIBBEAN Life of Barbados 1 Sagicor Life Inc. 34,543,045 3,091,377 3,881, ,517,074 5,470, ,504, ,543,045 3,091,377 3,881,710 8,517,074 5,470, ,504,094 GRAND 187,830,293 24,056,435 17,481,050 1,002,230 30,280,940 11,971,662 22,037, ,660, REPORT ON INSURANCE AND PENSIONS

193 TABLES TABLE XX REVENUE ACCOUNT IN RESPECT OF MARINE AVIATION AND TRANSPORT INSURANCE 2006 COMPANIES REVENUE EXPENDITURE LOCAL FUND AT THE BEGINNING OF YEAR Unearned Premium Reserve Outstanding Claims Reserve Premiums Commissions Received NET Interest Other Transfer from Profit & Loss Account Payment of Claims Includung Legal and Medical Expenses Commissions Other Expenses of Management Transfer to Profit & Loss Account FUND AT END OF YEAR Reserve for Unearned Premium Reserve for OUTSTANDING CLAIMS American Life and General Insurance Company (T&T) Ltd. Bankers Insurance Company (T&T) Ltd Colonial Fire & General Insurance Company Ltd. 122, , , ,901 15, ,091 3,541 72, , , , , ,091 Furness Anchorage General Insurance Ltd 15, ,032 1, ,048 10,876 17,187 26,272 94, ,048 GTM Fire Insurance Co. Ltd. 35,160 10,124 99,579 6,292 2,725 16, ,589 16,237 14,098 23,321 22,655 63,528 30, ,589 Gulf Insurance Ltd. 18, ,856 (122,757) 67,808 (22,447) 621, ,557 (74,185) 584,642 (66,673) 163, ,125 Guardian General Insurance (120,118) 699, ,210 1,489,376 7,417 1, ,748 3,287, ,428 1,086,966 1,152,208 (102,010) 1,038,233 3,287,825 Maritime General Insurance Company Ltd. 29, , , ,093 67,400 1,648,387 57, , , ,178 34, ,183 1,648,388 N.E.M. (West Indies) Insurance Ltd. Royal Caribbean Insurance Ltd. Sagicor General Insurance Inc. 762, ,903 1,992,143 18, ,365 3,560, , ,480 1,079, , ,903 3,560,819 The Beacon Insurance Company 1,791,560 1,043,402 4,602,619 2,843, ,413 10,636,650 1,160,142 1,139,824 3,161, ,225 1,345,839 3,118, ,478 10,636,650 The New India Assurance Company (T&T) Ltd. 3,167 11,222 8,648 7,389 19,340 49,766 20,707 3,006 6,899 4,201 14,953 49,766 The Reinsurance Company of Trinidad and Tobago Ltd 18, ,215 1,571,471 1,768,052 73, ,483 1,179,305 45,725 16,539 1,768,052 Trinidad & Tobago Insurance Ltd. 454,363 1,086,260 4,014, , ,676 7,297, , , ,504 4,823, ,120 1,203,588 7,297,464 3,131,793 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, ,225 9,817,780 4,643,367 4,041,572 30,091,537 CARIBBEAN United Insurance Company Ltd. 106,613 30, ,107 19, ,755 14,985 30,241 8,406 6, , ,306 98, ,755 GRAND 106,613 3,238,406 30,024 4,608, ,107 12,968,042 7,116,464 19,011 1,438,624 18,070 1,142, ,755 30,530,391 14,985 2,510,417 30,241 3,201,769 8,406 5,594,039 6, , ,893 9,984, ,306 4,756,673 98,733 4,140, ,755 30,530,292 REPORT ON INSURANCE AND PENSIONS 191

194 TABLES TABLE XXI UNDERWRITING RESULTS IN RESPECT OF PROPERTY INSURANCE 2006 COMPANIES Unearned Premium (Beginning of year) Net Premium Written Unearned Premium (end of year) Net Premiums Earned (1+2)3 Net Claims Incurred 5 as a per cent of 4 Expenses of Management and Net Commissions 7 as a per cent of 4 Total Premium Payments (7+5) 9 as a per cent of 4 Profit or (Loss) (49) Profit or (Loss) per cent 1 LOCAL American Life and General Insurance Company (T&T) Ltd. % % % % 4,781,143 11,547,021 6,010,868 10,317,296 2,393, ,141, ,534, (5,217,396) (50.57) 2 Bankers Insurance Company (T&T) Ltd. (154,554) 191, ,055 (199,539) 97,326 (48.78) 1,409,419 (706.34) 1,506,745 (755.11) (1,706,284) British American Insurance Company ( Trinidad ) Ltd 23, , , ,713 71, , , (178,391) (77.66) 4 Capital Insurance Ltd. 25, ,628 43, , , , (57,587) (55.14) 5 Citizen Insurance Company Ltd I N L I Q U I D A T I O N 6 Colonial Fire & General Insurance Company Ltd. 6,355,362 6,790,154 6,676,053 6,469,463 1,846, ,707, ,553, (11,084,482) (171.34) 7 Furness Anchorage General Insurance Ltd. 158, , ,309 72, , ,699,331 2, ,837,234 2, (1,764,499) (2,425.93) 8 Gulf Insurance Ltd. 1,326,936 2,230,847 1,328,350 2,229, , ,567, ,195, (966,000) (43.33) 9 The Caribbean Home InsuranceCompany Ltd. 6,740,559 13,043,840 7,693,602 12,090,796 3,203, ,720, ,923, (13,832,979) (114.41) 10 GTM Fire Insurance Company Ltd. 3,050,896 3,040,095 3,325,450 2,765, , ,227, ,073, (4,307,755) (155.77) Maritime General Insurance Company Ltd. 1,921,225 2,993,342 Natiionwide Insurance (Casualty & General) Co. Ltd. 2,250,486 2,664, , ,257, ,063, (7,399,455) (277.75) N O A C C O U N T S S U B M I T T E D 13 N.E.M. (West Indies) Insurance Ltd. 14 Royal Caribbean Insurance Ltd. 47,521 19,632 67,153 (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) The Beacon Insurance Company 2,288,036 3,688,486 2,724,949 3,251,573 1,622, ,520, ,143, (9,891,949) (304.22) 17 Thr Goodwill General Insurance Company Ltd N O A C C O U N T S S U B M I T T E D The Great Northern Insurance Company Ltd. 24,645 59,642 The Mountain General Insurance Company Ltd. 25,687 58,600 (560) (0.96) 30, , , N O A C C O U N T S S U B M I T T E D 20 The New India Assurance Company (T&T) Ltd. 909,339 1,540,150 1,568, , , ,222, ,910, (4,029,376) (457.50) 21 The Reinsurance Company of T&T 366,717 1,444, ,450 1,510,803 (947,147) (62.69) 1,533, , , Trinidad & Tobago Insurance Ltd. 4,328,957 7,119,654 5,540,330 5,908,281 1,713, ,477, ,191, (3,282,919) (55.56) 36,244,439 54,375,193 45,740,436 44,879,196 15,046, ,797, ,844, (74,965,386) (167.04) CARIBBEAN 1 United Insurance Company Ltd. 1,180,227 4,459,153 1,890,372 3,749,008 1,036, ,419, ,456, (1,707,544) (45.55) GRAND 1,180,227 37,424,666 4,459,153 58,834,346 1,890,372 47,630,808 3,749,008 48,628,204 1,036,642 16,083, ,419, ,217, ,456, ,301, (1,707,544) (76,672,930) (45.55) (157.67) 192 REPORT ON INSURANCE AND PENSIONS

195 TABLES TABLE XXII SUMMARY AND VALUATION OF POLICIES OF AMERICAN LIFE & GENERAL INSURANCE COMPANY (TRINIDAD AND TOBAGO) LIMITED IN RESPECT OF LONGTERM INSURANCE AS AT DECEMBER 31, 2006 POLICIES REGISTERED IN TRINIDAD AND TOBAGO DESCRIPTION OF TRANSACTIONS Number of Policies Sums Assured and Bonuses Office Yearly Premiums Net Yearly Premiums Net Liability NSURANCE POLICIES Group 1 Total Assurances with Profits 12, ,558,938 15,453,965 7,101, ,734,158 Group 2 Total Assurances without Profits 14,276 2,870,460,429 29,574,747 20,564, ,914,670 ASSURANCES 26,510 3,552,019,367 45,028,712 27,665, ,648,828 Group 3 Suplementary Benefits 7,235,107 4,982,938 5,403,278 Group 4 Group Assurance (Unearned Premium) 264 2,468,198,510 11,519,817 9,215,854 48,198 Group 5 Individual Annuities Deferred In Payment 10,853 pa pa 81,062,777 IND. ANNUITIES 10,853 pa 81,062,777 Group 6 Tax Qual. Ind. Annuities Deferred In Payment 12, ,598,310 pa pa 158,907,692 41,051,097 TAX QUAL. IND. ANNUITIES 13,616 3,598,310 pa 199,958,789 Group 7 Group Annuities Deferred In Payment 46 2,530,281 pa pa 184,945,942 35,000,976 GROUP ANNUITIES 46 2,530,281 pa 219,946,918 AIDS RESERVE PERSONAL ACCIDENT BENEFITS 27,000,000 2,551,523 GRAND NET 51,289 6,026,346,468 pa 63,783,636 41,864, ,620,311 VALUATION BALANCE SHEET OF THE LONGTERM INSURANCE OF AMERICAN LIFE & GENERAL INSURANCE COMPANY (T&T) LIMITED AS AT DECEMBER 31, 2006 Net Liabilities under Policies on Register in Trinidad and Tobago 839,620,311 Balance of Long Term Fund per Revenue Account 954,680,419 Other Surplus (if any) 115,060,108 Deficiency (if any) 954,680, ,680,419 REPORT ON INSURANCE AND PENSIONS 193

196 TABLES TABLE XXIII SUMMARY AND VALUATION OF THE POLICIES OF THE BEACON INSURANCE COMPANY LIMITED N RESPECT OF LONGTERM AND CREDIT LIFE AT JUNE 30, 2006 POLICIES REGISTERED IN TRINIDAD AND TOBAGO DESCRIPTION OF TRANSACTIONS Number Sums of Policies Insured INSURANCE POLICIES Office Yearly Premiums Net Yearly Premiums Net Liability Group Life Group Credit ,601, , ,704 82,395 3,847 OTHER BUSINESS 38 51,829, ,704 86,242 Deduct Reinsurance 11,370, ,092 32,217 NET OTHER BUSINESS 38 40,459, ,612 54,025 Term Critical 6 2 1,500, ,000 4,646 2,824 3,565 5,654 2,824 TERM 8 1,900,000 7,470 3,565 8,478 GRAND 46 42,359, ,082 3,565 62,503 Summary and Valuation of the Policies of the Beacon Insurance Company in Respect of Long Term and Credit Life at June 30, 2006 (In Respect of Business Done in Trinidad and Tobago Only) Net Liablilities Under Policies Registered in Trinidad and Tobago 62,503 Balance of Revenue Account 512,000 OtherOutstanding Benefits 241,091 Surplus 208, , , REPORT ON INSURANCE AND PENSIONS

197 TABLES TABLE XXIV SUMMARY AND VALUATION OF POLICIES OF COLONIAL LIFE INSURANCE COMPANY (TRINIDAD) LIMITED IN RESPECT OF LONGTERM BUSINESS AS AT DECEMBER 31, 2006 POLICIES REGISTERED IN TRINIDAD AND TOBAGO DESCRIPTION OF TRANSACTIONS Number of Policies GROSS Sum Insured ANNUALIZED PREMIUMS NET LIABILITY INSURANCE POLICIES PAR 7, ,589,000 6,738,000 76,886,000 NON PAR 37,716 11,292,542,000 82,226, ,237,000 Total Annuities Total EFPA/FPA 21,052 89,653 1,079,368,000 5,614,729, ,705 6,694,097,000 Other ,685,000 GRAND 156,067 11,593,131,000 88,964,000 7,725,905,000 REPORT ON INSURANCE AND PENSIONS 195

198 TABLES TABLE XXV SUMMARY AND VALUATION OF POLICIES OF CUNA CARIBBEAN INSURANCE SOCIETY LIMITED IN RESPECT OF LONGTERM INSURANCE AS AT DECEMBER 31,2006 POLICIES REGISTERED IN TRINIDAD AND TOBAGO DESCRIPTION OF TRANSACTIONS Number of Policies BASIC Sum ASsured DIVIDENDS Office Net Yearly Yearly Premiums Premiums Net Liability INSURANCE POLICIES Group 1 Whole Life ,565, , , ,697 6,114,032 Group 1 Term ,042, , ,702 97,500 Group 1 Pensions Plus Term and ADB Rider ,032,500 81,840 79,487 Group 1 Endowment 86 2,748,388 11, ,569 92, ,223,952 GROUP 1 1,192 81,388, , , ,480 7,514,971 Group 6 Other Long Term Insurance Business 409 7,589,626,269 67,664,130 19,226,859 OTHER BUSINESS 409 7,589,626,269 67,664,130 19,226,859 POLICY RIDERS EXTRA PREMIUMS CSV DEFICIENCY RESERVE AIDS RESERVE 33,460,331 62,074 8,246 62,074 8, ,325 48,833 GRAND 1,601 7,704,474, ,752 68,527, ,480 27,319,308 VALUATION BALANCE SHEET OF THE LONGTERM INSURANCE OF CUNA CARIBBEAN INSURANCE SOCIETY LIMITED AS AT DECEMBER 31, Net Liabilities under Policies on Register in Trinidad and Tobago Other Outstanding claims on behalf of Individual Ordinary Life 27,319,308 88,523 Balance of Long Term Fund per Revenue Account 70,728,698 Surplus (if any) 43,320,867 70,728,698 Deficiency (if any) 70,728, REPORT ON INSURANCE AND PENSIONS

199 TABLES TABLE XXVI GUARDIAN LIFE OF THE CARIBBEAN LIMITED SUMMARY AND VALUATION OF POLICIES IN RESPECT OF LONG TERM BUSINESS AS AT DECEMBER 31, 2006 POLICIES REGISTERED IN TRINIDAD AND TOBAGO DESCRIPTION OF TRANSACTIONS Number of Policies Sums Insured Reversionary Bonus Office Yearly Premiums Net Yearly Premiums Net Liability INSURANCE POLICIES Group 1 With full participation in profits Less Reassurance NET FULL PARTICIPATION 1,732 1, ,725,890 6,360, ,365,587 68,778,188 68,778,188 2,920, ,636 2,737,465 1,601,112 1,601,112 73,450,294 91,318 73,358,976 With Quarter Participation in Profits Less Reassurance NET QUARTER PARTICIPATION ,066,329 1,108,355 28,957,974 3,839,138 3,839, ,944 36, , , ,177 10,576,451 18,199 10,558,252 Bonus Provision 3,822,312 NET GROUP 1 2, ,323,561 72,617,326 3,080,011 1,897,289 87,739,540 Group 3 Without participation in profits Less Reassurance 77,290 24,376,752,681 6,540,942, , ,450,584 21,481,951 9,134, ,142,491 11,629,667 NET GROUP 3 77,290 17,835,809, , ,968,633 9,134, ,512,824 Group 5 Annuities Less Reassurance 43,317 65,391, , ,379, ,839 1,988,984,143 NET GROUP 5 43,317 65,391, , ,379, ,839 1,988,984,143 Group 6 Other Long Term Insurance Business Less Reassurance 221 4,497,620,769 1,937,998,912 14,495,851 3,546,270 7,219,639 1,196,488 NET GROUP ,559,621,857 10,949,581 6,023,151 GRAND 122,999 20,619,146,248 73,234, ,378,069 11,180,203 2,764,259,658 VALUATION BALANCE SHEET OF GUARDIAN LIFE OF THE CARIBBEAN LIMITED IN REPECT OF BUSINESS DONE IN TRINIDAD AND TOBAGO ONLY AS AT DECEMBER 31, Actuarial Reserves Participating Policies Non Participating Policies 87,740 2,676,520 2,764,260 Value of Assets 3,915,286 Investment & Contingency Reserve Participating Policies Non Participating Policies 48, , ,834 Current Liabilities (325,894) Unappropriated Surplus Participating Policies Non Participating Policies 231, , ,393 Share Capital Shareholder s account Revaluation Reserve 53,349 3,044 18,512 3,589,392 3,589,392 REPORT ON INSURANCE AND PENSIONS 197

200 TABLES TABLE XXVII SUMMARY AND VALUATION OF POLICIES OF NATIONWIDE INSURANCE COMPANY LIMITED IN RESPECT OF LONGTERM BUSINESS AS AT DECEMBER 31,2006 POLICIES REGISTERED IN TRINIDAD AND TOBAGO DESCRIPTION OF TRANSACTIONS Number of Policies Sums Insured Bonuses Office Yearly Premiums Net Liability Negative Reserves INSURANCE POLICIES NET INSURANCES WITH PROFITS ,499,316 6,357, , ,644,423 NET INSURANCES WITHOUT PROFITS 1,077 90,773,847 1,249,375 12,601, ,331 ANNUITIES 250 5,747,546 NET OTHER LONG TERM LIABILITIES 1,655 28,329,396 3,191,378 10,453,235 67,273 GRAND 3, ,602,559 6,357,043 4,772,936 35,447, ,604 VALUATION BALANCE SHEET OF THE LONGTERM INSURANCE OF NATIONWIDE INSURANCE COMPANY LIMITED AS AT DECEMBER 31,2006 Actuarial Liabilities as at 31/12/06 42,959,172 Fund Carried forward 42,959,172 Surplus (if any) Deficiency (if any) 42,959,172 42,959,172 Cash Value Deficiencies 1,346,853 5,899,352 94,284 7,340, REPORT ON INSURANCE AND PENSIONS

201 TABLES TABLE XXVIII SUMMARY AND VALUATION OF POLICIES OF SAGICOR LIFE INC IN RESPECT OF LONGTERM BUSINESS AS AT DECEMBER 31, 2006 POLICIES REGISTERED IN TRINIDAD AND TOBAGO DESCRIPTION OF TRANSACTIONS Number Sums of Insured Policies Bonuses Office Net NeGATIVE Yearly Liability RESERVES Premiums INSURANCE POLICIES NET INSURANCES WITH PROFITS 2, ,495,913 24,703,825 3,528,560 60,521,424 65,195 NET INSURANCES WITHOUT PROFITS 5,573 2,262,142,916 36,302,931 (19,457,713) 44,219,421 ANNUITIES 3,237 8,202,965 4,310,986 61, ,999,324 NET Other Long Term Insurance Business 97,849 3,468,340, ,296, ,398,639 30,370,431 GRAND 108,757 5,873,181,831 29,014, ,189,186 1,026,461,674 74,655,047 cash VALUE DEFICIENCIES 8,308,047 44,875, ,844, ,028,489 REPORT ON INSURANCE AND PENSIONS 199

202 TABLES TABLE XXIX SUMMARY AND VALUATION OF POLICIES OF THE SCOTIALIFE TRINIDAD & TOBAGO LIMITED IN RESPECT OF LONGTERM BUSINESS AS AT OCTOBER 31, 2006 POLICIES REGISTERED IN TRINIDAD AND TOBAGO DESCRIPTION OF TRANSACTIONS Number of Policies gross amount annual Premiums Net Liability INSURANCE POLICIES Universal Life 7, ,630,040 32,883, ,668,162 Approved Annuities 717 3,662,054 2,181,632 3,662,054 Group Life 25, ,622,444 13,691,804 1,367,866 GRAND 34, ,914,538 48,756, ,698, REPORT ON INSURANCE AND PENSIONS

203 TABLES TABLE XXX NAME OF PLAN Fund at the beginning of Period 1. A.S. Bryden and Sons (Trinidad) Pension Plan 24,758, Baroids Trinidad Service Pension Fund Plan 29,854, Coconut Growers Association Pension Fund Plan 4. Laughlin and De Gannes and its Associated Companies Staff Pension Fund Plan 21,413, Penta Paints (Caribbean) Pension Fund Plan 6. The Incorporated Trustees of the Anglican Church in the Diocese of Trinidad and Tobago GRAND 76,026,827 Deposit Administration 853,770,550 Annuity 76,026,827 Grand Total 929,797,377 Self Administered ANNUITY PENSION FUND PLANS REVENUE ACCOUNT 2006 CONTRIBUTIONS BY Employers Employees Additional Contribution by Employers to meet Deficiency Interests, Dividends and Rents Other Income Total Revenue superannuation Benefits Pensions to Retired Employees Retirement Gratuities Total 1,240, ,829 1,742,485 28,205,278 1,727,681 1,727, ,506 1,978,338 32,160, , , ,925 5,100 5,100 10,200 10,200 10,200 2,640 1,528,494 22,944, , ,617 1,245, ,075 5,249,317 83,320,701 2,698, ,482 2,812,423 28,715,701 18,154, ,523 59,256,284 1,422, ,951,046 23,255,916 5,844,420 29,100,336 1,245, ,075 5,249,317 83,320,701 2,698, ,482 2,812,423 1,422,175 29,961,183 18,953, ,523 64,505,601 1,045,271,747 25,954,857 5,957,902 31,912, ,343, ,494,964 Death Grants 626, ,726 Return of Contribution on Withdrawal 64,877 3,465 68,342 3,374,138 68,342 3,442,480 Other Expenditure 245,174 89, , ,238 6,313, ,238 6,980,749 Total Expenditure 2,037, ,418 10, ,653 3,548,003 39,414,711 3,548,003 42,962,714 Funds at end of Period 26,167,546 31,614,380 21,990,772 79,772, ,536,335 79,772,698 1,002,309,033 REPORT ON INSURANCE AND PENSIONS 201

204 TABLES TABLE XXXI DEPOSIT ADMINISTRATION PENSION FUND PLANS REVENUE ACCOUNT 2006 NAME OF PLAN Fund at the beginning of Period CONTRIBUTIONS BY Employers Employees Additional Contributions by Employers to meet Deficiency Interests, Dividends and Rent Other Income Total Revenue SUPERANNUATION BENEFITS Pensions to Retired Employees Retirement Gratuities Total Death Grants 1 Albrosco Staff Pension Plan 9,310, , ,442 10,172, , ,655 2 All Trinidad Sugar and General Workers Trade Union Staff Pension Plan 1,949,139 41,343 29, ,278 2,164,291 3 Anthony N. Sabga Pension Fund Plan 12,272, , , ,829 13,880,181 95,754 31, ,673 96,884 4 Angostura Bitters (Dr. J.G.B. Siegert & Sons) Pension Fund Plan 5 Armour s Funeral Homes Pension Fund Plan 480,540 6,558 6,558 36, ,773 6 ASA Wright Nature Centre Pension Fund Plan 7 Barbados Mutual Life Assurance Society Employees Pension Plan 27,335,114 1,301, ,672 1,991,691 31,523, ,294 24, ,955 8 Bel Air International Airport Hotel Pension Plan 401,428 77,000 28, ,313 67,638 28,508 96,146 9 Berger Paints Trinidad Weekly Paid Pension Fund Plan 3,266, ,133 3,547, ,033 54, , Bermudez Biscuit Company Pension Plan 11 British High Commision Pension Fund Plan 12 Bristol Myers (West Indies) 13 Caribbean Bulk Storage Trading Company Pension Fund Plan 2,153,616 90, ,396 49,546 2,454,793 36,653 36, Caribbean Packaging Industries Pension Fund Plan for Senior Staff Employees 9,511, , ,335 11,064, , , Caribbean Packaging Industries Pension Fund Plan for Junior Staff Employees 7,229, , , ,442 8,722, ,645 38, , CBP Pension Plan 3,480, , , ,784 4,518, , , , Century Eslon Pension Plan 17,035, , ,675 1,346,353 19,247, , , Clark & Battoo Ltd. Pension Fund Plan 19 Clico Investment Bank Staff Pension Fund Plan 3,989, , , ,822 4,959, C.M.B. Packaging Trinidad Pension Fund Plan 21 Coates Brothers (Caribbean) Pension Fund Plan 6,112,348 69,389 60, ,397 6,702, Colonial Fire and General Insurance Company Pension Fund Plan 23 Colonial Life Insurance Company (Trinidad) Staff Pension Plan 24 Diego Martin Credit Union CoOperative Society Staff Pension Fund Plan 25 Eric Solis Marketing Staff Pension Plan 2,453,230 90,242 90, ,703 2,813,417 46,500 46,500 Carried Forward 106,981,804 4,209,873 2,671,048 77,000 7,934, , ,809,140 1,991, ,763 2,302,933 96,884 Return of Contribution on Withdrawal 21,306 32, ,058 47,412 11,129 63, ,208 23,958 8,123 14, ,063 Other Expenditure 96,580 1,609 79,157 1, ,492 11,942 31,300 3,450 74, ,298 74, ,034 19,857 6,174 28,771 1,789,897 Total Expenditure 298,541 34, ,772 1, , , ,344 40, ,157 1,246, , ,630 43,815 14,297 89,481 4,677,777 Fund at end of Period 9,874,161 2,129,984 13,438, ,023 30,562, ,225 3,300,016 2,414,690 10,655,740 7,475,887 4,187,112 18,837,946 4,915,946 6,688,175 2,723, ,131, REPORT ON INSURANCE AND PENSIONS

205 TABLES TABLE XXXI continued DEPOSIT ADMINISTRATION PENSION FUND PLANS REVENUE ACCOUNT 2006 NAME OF PLAN Fund at the beginning of Period CONTRIBUTIONS BY Employers Employees Additional Contributions by Employers to meet Deficiency Interests, Dividends and Rent Other Income Total Revenue SUPERANNUATION BENEFITS Pensions to Retired Employees Retirement Gratuities Total Death Grants Brought Forward 106,981,804 4,209,873 2,671,048 77,000 7,934, , ,809,140 1,991, ,763 2,302,933 96, F.T. Farfan and Sons Staff Pension Plan 6,326, , , ,268 7,905,031 39,807 39, Furness Trinidad Pension Fund Plan 8,148, , , ,298 9,125, , , Fujitsu ICL Caribbean Trinidad Pension Plan 9,931, , , ,178 11,158,591 4,266 4, Grace Kennedy (Trinidad and Tobago) Pension Fund Plan 649, , ,748 66,165 12,660 1,105, Group Pension Plan for the Managerial Employees of American Life and General Insurance Company (Trinidad) 10,423, , , ,585 11,818, Group Pension Plan for the NonManagerial Employees of American Life and General Insurance Company (Trinidad) 16,187, , ,931 1,296,573 18,753, , , Gulf Engineering Services Pension Fund Plan 2,346, , , ,883 2,963, Gulf Insurance Pension Fund Plan 34 Halliburnton Trinidad Pension Plan 35 Home Construction Pension Plan 36 J.N. Harriman & Company Pension Plan 14,254, , , ,580 15,494, , , Johnson and Johnson (Trinidad) Staff Pension Fund Plan 49,730,150 2,060, ,732 52,045, , ,564 1,009,117 76, Joseph Charles Bottling Works and Investments Pension Fund Plan 39 J.T.A. Supermarkets Pension Fund Plan 40 Junior Schools Pension Fund Plan 2,823,894 94,185 94,185 4, ,863 3,220,250 72,996 72, Lake Asphalt of Trinidad and Tobago (1978) Staff Pension Plan 8,691, , , ,420 9,569, Lake Asphalt of Trinidad and Tobago (1978) Employees Pension Plan 22,431, ,401 1,174,513 1,485,929 25,390,384 1,032, ,115 1,828, Lange Trinidad (Division of Skinner Marine Operations) Pension Fund Plan 10,617, , , ,627 11,993, , ,372 1,146, Lazzari and Sampson Pension Fund 7,834, , , ,536 8,919, , , , Life of Barbados Pension Plan 46 L.J. William Pension Fund Plan 9,772, , , ,607 10,774, Lonsdale/Saatchi & Saatchi Advertising Staff Pension Plan 48 Maritime Life (Caribbean) Pension Fund Plan 37,212,883 1,076,067 1,076,067 1,821,761 41,186, , , , Master Mix of Trinidad & Tobago Staff Pension Fund Plan 6,797, ,001 7,389, ,741 93, , Mc CannErickson (Trinidad) Staff Pension Fund Plan 8,562, , , ,286 9,587, , ,106 Carried Forward 339,724,856 10,088,619 8,146,400 81,123 21,902,386 1,265, ,208,835 6,651,856 2,688,490 9,340, ,729 Return of Contribution on Withdrawal 488, ,304 86,117 54, ,080 54, ,996 61,793 48,980 98,634 21,863 12,806 52, ,239 61,129 1,545,160 Other Expenditure 1,789,897 96,322 50, ,784 12,660 24, , ,046 30,233 8,976 31, ,864 79,649 12,553 1,000 69,620 3,244,367 Total Expenditure 4,677, , , , ,740 54, ,680 24,253 1,023,590 1,512, ,229 8,976 1,958,758 1,318, ,614 64, , , ,855 14,303,602 Fund at end of Period 118,131,363 7,664,598 8,767,694 10,739, ,212 11,763,765 18,507,563 2,938,804 14,470,710 50,532,497 3,117,021 9,560,331 23,431,626 10,674,728 8,246,759 10,709,141 40,240,737 7,085,704 9,336, ,905,233 REPORT ON INSURANCE AND PENSIONS 203

206 TABLES TABLE XXXI continued DEPOSIT ADMINISTRATION PENSION FUND PLANS REVENUE ACCOUNT 2006 NAME OF PLAN Fund at the beginning of Period CONTRIBUTIONS BY Employers Employees Additional Contributions by Employers to meet Deficiency Interests, Dividends and Rent Other Income Total Revenue SUPERANNUATION BENEFITS Pensions to Retired Employees Retirement Gratuities Total Death Grants Brought Forward 339,724,856 10,088,619 8,146,400 81,123 21,902,386 1,265, ,208,835 6,651,856 2,688,490 9,340, , Medianet Monthly Paid Staff Pension Plan 52 MTS Pension Fund Plan 14,174,242 2,138, ,704 1,101,374 18,001, , , , M Interamerica Incorporate (Trinidad and Tobago) Division Pension Fund Plan 10,610, , , ,856 11,957, National Agro Chemicals Pension Fund Plan 234,647 40,599 30,384 9,620 27, ,593 70,983 70, National Flour Mills Pension Fund Plan for Employees of the Company 56 National Helicopter Services Pension Fund Plan 7,641, , , ,685 8,780, Navarro s Shipping Pension Plan 58 N.E.M. (West Indies) Pension Fund Plan 59 Oilfields Workers Trade Union Staff Pension Fund Plan 24,384, ,173 79,012 3,012 (44,499) 24,624, ,790 5, , Pepsi Cola Trinidad Bottling Company Ltd. Pension Fund Plan 2,188, , , ,174 3,047,692 28, Perreira & Company Staff Pension Fund Plan 4,417, , , ,467 5,195, , , Prestige Holdings Pension Fund Plan 8,978, , , ,641 10,185,100 22,357 22, Print A Pak Pension Plan 991, , ,506 75,898 1,307,672 7,570 7, R.B.P. Elevator and Escalator Company Pension Plan 3,414, , , ,846 3,962, , , Rentokil (Trinidad) Pension Fund Plan 3,893, , , ,281 4,702, Rhand Credit Union Cooperative Society Pension Plan 5,383,750 82,114 81, ,660 5,938, Royal Caribbean Insurance Group Pension Fund Plan 68 Sealand Services Inc. PensionPlan 69 Selco Pension Fund Plan 70 Stellar Distributors (Trinidad) Staff Pension Plan 4,381,266 32,519 32, ,751 4,804,055 20, Small Business Development Company Staff Pension Fund Plan 72 Southern Medical Clinic Pension Fund Plan 3,391,798 62,422 39, ,198 3,740,428 29, , ,556 33, Southern Sales and Services Company Pension Fund Plan 41,489, , ,922 1,043,590 43,119, , ,756 1,092,564 32, TECU Credit Union Cooperative Society Pension Fund Plan 75 Tatil Life Sales Representatives Pension Plan Carried Forward 475,301,171 15,013,816 11,226,062 81,123 28,048,439 1,248, ,918,906 8,698,131 3,323,157 12,021, ,280 Return of Contribution on Withdrawal 1,545,160 61, ,859 44,367 57,718 17,616 4,800 24,288 11,237 24,316 9, ,813 2,054,648 Other Expenditure 3,244, ,092 75,922 21, ,782 57,502 17,641 12,582 34,919 23,118 11,304 2,659 19,150 47,216 35,592 4,278,997 Total Expenditure 14,303, , ,781 70,983 65, , , ,745 39,739 66, ,283 22,541 26,975 39, ,964 1,279,300 18,643,213 Fund at end of Period 366,905,233 17,236,214 11,745, ,610 8,715,337 23,672,648 2,904,268 5,005,920 10,145,361 1,240,895 3,729,392 4,679,506 5,911,329 4,764,624 3,507,464 41,840, ,275, REPORT ON INSURANCE AND PENSIONS

207 TABLES TABLE XXXI continued DEPOSIT ADMINISTRATION PENSION FUND PLANS REVENUE ACCOUNT 2006 NAME OF PLAN Fund at the beginning of Period CONTRIBUTIONS BY Employers Employees Additional Contributions by Employers to meet Deficiency Interests, Dividends and Rent Other Income Total Revenue SUPERANNUATION BENEFITS Pensions to Retired Employees Retirement Gratuities Total Death Grants Brought Forward 475,301,171 15,013,816 11,226,062 81,123 28,048,439 1,248, ,918,906 8,698,131 3,323,157 12,021, , The Agents of American Life and General Insurance Company (Trinidad) Pension Scheme 19,559, , ,838 1,433,491 22,032,667 2,520,748 2,520, The Beacon Insurance Company Pension Plan for Monthly and Weekly Paid Employees 9,145, , , ,581 10,373, ,667 56, ,032 1, The Group Pension Plan for NonProfessional Employees of Fitzstone Ltd. 79 The Institute of Marine Affairs Pension Plan 80 The Myerson Tooth Company Pension Fund Plan 22,542, , ,838 (3,057) 1,044,961 24,094, , , The Synod of the Presbyterian Church in Trinidad Pension Plan 6,889, , , ,027 7,664, , , The Trinidad Pilots and Berthing Masters Association Pension Fund Plan 18,513,280 2,033, ,860 1,291,174 22,568, , , The University of the West Indies (St. Augustine) Staff Pension Fund Plan 181,740,353 6,214,615 2,674,922 19,153, ,783,632 5,888,092 2,180,556 8,068, Tourism and Industrial Development Company of Trinidad and Tobago Pension Plan 7,770, , , ,311 8,933,767 1,681,886 1,681, Toyota Trinidad and Tobago Staff Pension Plan 2,617, , , ,966 19,007 3,517, Trinidad Concrete Products Company Pension Fund Plan 87 Trinidad Contractors Pension Fund Plan 19,156,783 1,358,573 20,515, ,131 89, , Trinidad Express Newspaper Pension Fund Plan. 49,495,578 1,751,415 1,198,931 3,193,459 (890,088) 54,749, , , Trinidad Nitrogen Company Staff Pension Fund Plan 1,666,316 69,960 39, , ,855 2,462, Trinidad Ropeworks Pension Plan 91 Trinidad Systems Pension Fund Plan 92 Trinidad and Tobago Chamber of Commerce Pension Plan 66,443 46, , , , Trinidad and Tobago Mortgage Finance Company Pension Plan 94 Trinidad andtobago Solid Waste Management Company Pension Fund Plan 7,896, ,420 8,454,261 96,134 96, United States of America Embassy in Trinidad and Tobago Pension Plan 19,388,546 1,250, ,795 1,323,954 22,312, , , , Waste Disposals Pension Fund Plan 6,341, , , ,149 7,104,234 4,154 4, , Western Scientific Company Pension Plan 1,090,483 46,230 46, ,464 1,284, William H. Scott Pension Fund Plan 4,654,530 35,581 35, ,736 5,069, , , Youth Training Employment Patrnership Programme Pension Plan GRAND 853,770,550 28,715,701 18,154, ,523 59,256,284 1,422, ,951,046 23,255,916 5,844,420 29,100, ,726 Return of Contribution on Withdrawal 2,054,648 49,988 42,567 23, ,157 66, ,099 67, ,897 16,159 26,290 11,766 3,374,138 Other Expenditure 4,278,997 98, ,089 9, , ,792 40,513 20, , ,182 18,127 9, , ,071 87,743 3,974 3,699 6,313,511 Total Expenditure 18,643,213 2,570, ,290 1,098, , ,841 8,492,619 1,864,498 87,989 1,060,407 1,221,959 18, , , , ,641 3, ,735 39,414,711 Fund at end of Period 512,275,693 19,461,931 9,726,872 22,995,907 7,060,684 21,612, ,291,013 7,069,269 3,429,731 19,454,949 53,527,336 2,444,346 8,252,392 21,387,983 6,649,593 1,280,433 4,615, ,536,335 REPORT ON INSURANCE AND PENSIONS 205

208 TABLES NAME OF PLAN 1 Agostini Insurance Brokers Pension Fund Plan 2 Agostini s Retirement Plan 3 Airports Authority of Trinidad & Tobago Pension Fund 4 Alstons Pension Fund Plan 5 Amoco Trinidad Oil Company Pension Fund Plan 6 ANSA Mc Al Pension Fund Plan 7 Associated Brands Group Pension Fund Plan 8 Atlantic LNG Pension Plan 9 Bank of Commerce Trinidad and Tobago Retirement Plan 10 Bawodes Pension Fund Plan 11 Berger Paints Trinidad Pension Fund Plan (Monthly Paid Employees) 12 BritishAmerican Insurance Company (Trinidad) Pension Fund Plan 13 British Gas Trinidad Pension Plan 14 BWIA General Staff Pension Fund Plan 15 BWIA Pilots Pension Plan 16 Caribbean Industrial Research Institute Pension Fund Plan 17 Central Bank of Trinidad and Tobago Pension Fund Plan 18 Citibank (Trinidad and Tobago) Pension Plan 19 Coca Cola Bottling (Trinidad and Tobago ) Pension Fund Plan 20 Consolidated Insurance Consultants Staff Pension Fund Plan 21 Coopers and Lybrand Pension Fund Plan 22 Courts Trinidad Pension Plan 23 Cuna Caribbean Insurance Society Pension Fund Plan 24 Development Finance Pension Fund Plan 25 EOG Resources Trinidad Pension Fund Plan Carried Forward TABLE XXXII Trinidad and Tobago Government Securities denoted in T.T. Mortgages Real Estate 4,406,267 8,196,196 7,613,100 38,865, ,040 5,632,723 1,113,895 3,466, ,345 2,921, ,020 15,386,516 2,215,332 2,136,761 3,440,038 2,806,158 3,345, ,000 32,063,111 40,764 20,321, ,548 6,502,821 6,157, ,363 3,074,188 1,919,313 1,589,035 5,535, , , ,912,916 6,455,641 Trinidad and Tobago Equities 14,905,586 21,689,490 26,413, ,377,856 16,809,017 13,416,814 4,082,113 53,911,237 10,285,393 4,298,256 4,484,682 45,710,558 54,721,184 24,714,048 4,926,776 36,777,982 1,829,599 5,683,762 10,507,388 12,240,633 2,917, ,702,842 Fixed / call Deposit 3,169,773 6,354,430 53,396,807 14,307,634 8,154,467 2,568,762 4,160,780 6,252,575 10,170,767 1,700,000 2,634,086 3,000,000 21,725,176 3,012, , ,547,960 Other Trinidad and Tobago Assets 7,418,527 18,503,885 43,686, ,431,523 20,468,174 16,726,965 14,240,943 81,189,046 6,799,082 6,952,956 1,648,213 8,883, ,274,905 24,829,162 16,719,220 2,601,293 32,307,065 9,222,265 7,805,395 13,482,211 12,945,627 3,416, ,553,199 SELF ADMINISTERED BALANCE SHEET 2006 Trinidad and Tobago Securities denoted in Foreign Currency Trinidad & Tobago Government Securities denoted in Foreign Currency 10% Caricom: Equity 10% Caricom: Government 10% Caricom: Other Total Local Assets 90% Caricom: Equity 90% Caricom: Government 90% Caricom: Other 1,409, , , ,037 31,658,977 1,049,843 1,052,189 1,044,329 88, , ,113 55,271,969 1,171, ,092 78,670 8,955 78,669, ,030 80,591 37,811, , , , ,230,600 8,830,985 1,669,688 2,366,183 1,546, , ,450 93, ,733 46,543,231 3,460, ,427 1,455,600 1,815, , ,500 56,559 63,831 36,476,488 2,659, , , ,689 83,149 50,010 35,980 36,540, , , ,819 4,902, , , , ,942,116 3,600, ,760 8,935, ,612 53,362 20,448 23,878, , , , ,028 13,626,291 3,940,711 2,475, ,153 63,212 30,672 23,499, , ,044 16,081,799 1,877, , , , ,729,540 8,551,235 4,457,627 4,752,770 1,667, ,021,944 7,169, , ,969 85,609 15,308 70,025,695 1,988, , , ,905 16,692, ,148 5,808, , , , ,506 85,942,834 4,651,421 2,094,101 1,426,554 76,612 61,651 35,989, , , ,193 35,969 18,647, ,724 1,068, ,867 35,350 33,239 19,813 26,998, , , ,320 1,148, , ,771 33,783,727 2,544,939 87,801 36,419 10,421 8,302, ,775 93,789 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 12,259,832 Foreign Government Securities 300, , , ,159 1,446,145 Other Foreign Securities 2,078,548 3,269,400 2,583,934 7,931,882 Foreign Equity 5,556,527 1,101,471 53,800,724 5,166,149 3,652,132 1,897,330 22,792,508 3,867,389 1,185, ,630 3,098,460 5,410,430 1,067, ,799 1,601, , ,534,530 Total Foreign Assets 5,224,909 6,727,541 1,890,092 66,667,579 11,227,821 7,620,594 3,419,582 30,582,731 4,531,673 6,415,959 2,030,169 20,957,196 3,098,460 8,692,350 1,319,000 8,707,236 2,193,162 1,924, ,622 2,544,939 1,198, ,769,811 Total Assets in Fund 36,883,886 61,999,510 80,559, ,898,179 57,771,052 44,097,082 39,959, ,524,847 8,935,843 28,410,243 20,042,250 25,529, ,686, ,120,404 78,718,045 18,011,883 94,650,069 38,182,653 20,572,446 27,794,367 36,328,666 9,500,324 1,760,177,572 Total Local Asset Ratio LOCAL EQUITY % Caricom: Equity 1,166,492 1,301, ,700 9,812,205 3,844,500 2,955, ,492 4,000, ,616 4,378, ,116 9,501,372 2,209, ,053 5,168, , , ,500 2,827, ,194 52,071, % Caricom: Government 1,169,099 89,546 1,855, , , ,100 1,023, ,477 2,750, ,715 4,952, ,089 2,326, , , ,210 18,592, % Caricom: Other 1,160,366 2,629,092 1,617, , ,799 5,280, ,084 1,585, ,133 13,622, REPORT ON INSURANCE AND PENSIONS

209 TABLES NAME OF PLAN Brought Forward 26 E & Y Services Pension Scheme 27 Ferreira Optical Pension Fund Plan 28 First Citizen Bank Pension Plan 29 Hand Arnold (Trinidad) Employees Pension Scheme 30 H.S. Services Pension Fund Plan 31 Hydro Agri Trinidad Salaried Employees Pension Plan 32 I A L Engineering Sevices Pension Fund Plan 33 I.B.M. Non Contributory Pension Fund Plan 34 Insurance Brokers (West Indies) Pension Fund Plan 35 Lever Brothers West Indies Pension Fund Plan 36 MandevQualassure Pension Fund Plan 37 Mega Insurance Company Pension Plan 38 Mittal Steel Point Lisas Employees Pension Fund Plan 39 National Gas Company Pension Fund Plan 40 National Insurance Board Pension Fund Plan 41 National Insurance Property Development Company Pension Fund Plan 42 National Union of Government and Federated Workers Elected Officers Pension Fund Plan 43 National Union of Government and Federated Workers Staff Pension Fund Plan 44 Neal and Massy Group Pension Plan 45 Nestle Trinidad and Tobago Pension Fund Plan 46 Nestle Trinidad and Tobago Unionised Employees Pension Plan 47 Niherst Pension Fund Plan 48 PCS Nitrogen Trinidad Pension Fund Plan No I 49 PCS Nitrogen Trinidad Pension Fund Plan No II 50 Phoenix Park Gas Processors Staff Pension Plan Carried Forward TABLE XXXII continued SELF ADMINISTERED BALANCE SHEET 2006 Trinidad and Tobago Government Securities denoted in T.T. Mortgages Real Estate Trinidad and Tobago Equities Fixed / call Deposit Other Trinidad and Tobago Assets Trinidad and Tobago Securities denoted in Foreign Currency Trinidad & Tobago Government Securities denoted in Foreign Currency 10% Caricom: Equity 10% Caricom: Government 10% Caricom: Other Total Local Assets 90% Caricom: Equity 90% Caricom: Government 90% Caricom: Other 176,912,916 6,455, ,702, ,547, ,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 12,259,832 3,146,987 9,625,087 4,533,465 6,405,731 70,241 1,875,239 60,175 83,368 25,800, , ,312 1,083,842 1,168,839 3,429,842 3,813, , ,959 38,525 7,222 10,319, ,725 64,997 71,595,750 1,388, ,759,765 2,800, ,743,661 21,022, ,050 1,337, ,348,751 6,309,450 12,038,968 2,638, ,586 23,094,276 1,500,000 22,293,408 2,137, , , , ,062 53,423,966 2,784,825 1,294, ,557 2,218, ,158 2,118,781 3,295, , ,074 8,607,421 1,476,669 4,479, ,196 25,424,730 22,100,092 4,577, , , ,955 61,440 57,589,594 1,308,150 1,052, , ,000 34,893,865 64,003 1,538,600 37,296, , ,223 6,189,357 30,928 7,470, ,349 9,627, ,400 21,648, ,000 26,355,482 3,453,859 10,850 61,702,356 97,650 6,295, ,017 10,625,459 6,668, , ,458 93, , ,713 25,578, , , ,418 48,552,715 12,904, ,812,779 86,358, ,278,293 1,916,938 3,154,190 1,157, , , ,892,568 10,414,554 1,123,315 5,693,441 2,938, ,779,981 22,750,198 63,439,329 9,221,050 2,462,151 11, ,603,313 22,159, ,562 62,679, , ,337,216 16,883, ,499,167 6,604,417 11,960,937 1,100, , ,714,987 9,906,165 1,599,289 4,379,200 18,707, ,000 15,558,641 1,341, ,555 9,846 40,408,121 1,453,995 88, , ,464 51, ,619 23,248 7,157 2,582, ,232 64,410 2,331,609 9,217,146 99,160 10,576,678 43,733 56,064 31,800 2,336 22,358, ,200 21,024 28,093,418 7,922, ,030,662 25,000, ,576,226 34,356,241 10,518,473 3,661,940 1,539,081 2,600, ,298,183 32,957,458 13,851,725 23,400,000 7,739,112 20,643,518 10,335,447 29,573, , ,238 44,448 68,747,254 2,778, , ,030 2,032,219 5,950,540 6,371,057 8,201, ,820 81,791 22,888,642 2,266, ,116 3,041,096 6,000, ,000 11,489, ,008 18,345 3,488 22,044, ,105 31,388 55,210,050 3,949, ,219, ,825,031 16,137,745 3,324, , , , ,244,765 6,736,950 3,896,056 3,574,343 2,335,495 7,546,857 7,450,311 1,221,439 32,580 18,586, ,222 4,915, ,802 8,391,906 9,949, , ,440 13,591 20,576 23,902,106 1,272, , , ,591,742 36,492,990 2,088,378, ,680,854 2,004,626, ,927,585 39,895,138 16,828,601 6,151,950 5,242,196 5,209,816, ,457,405 55,367,553 47,179,766 Foreign Government Securities 1,446, , , , ,298 4,319, ,093 6,947,795 Other Foreign Securities 7,931, ,299,453 1,395,765 16,627,718 Foreign Equity 112,534,530 4,555, ,246 17,223,859 1,010, ,782 3,065,468 13,002, ,161 1,090,632 55,192,881 28,218,621 16,494, , , ,233 16,906,435 4,401, , ,261 38,614,595 2,999,752 1,762, ,275,453 Total Foreign Assets 197,769,811 5,846,889 1,105,968 35,572,277 6,385,498 2,377,669 6,361,769 13,002, , ,811 2,840,085 72,424,192 50,485,155 27,999,584 2,264, , ,457 98,734,984 8,499,693 3,706, ,754 52,821,944 3,292,974 4,888, ,855,689 Total Assets in Fund 1,760,177,572 31,647,182 11,425, ,921,028 59,809,464 10,985,090 63,951,363 50,298,640 7,748,929 62,469,167 28,418, ,316, ,088, ,714,571 42,672,286 3,032,162 22,838,983 1,013,033,167 77,246,947 26,595,350 22,544, ,066,709 21,879,656 28,790,191 5,808,672,524 Total Local Asset Ratio LOCAL EQUITY % Caricom: Equity 52,071, , ,250 7,010,500 3,094,250 1,640,743 1,453, , , ,835 11,571,727 24,621,505 11,006,850 1,615, , ,000 36,619,398 3,086,880 2,518, ,450 7,485,500 1,414, ,286, % Caricom: Government 18,592, ,680 72,219 13,376,631 1,438,670 1,169, ,873 1,248, ,402 1,776,988 98,461 71,567 23,360 15,390,805 1,022, ,907 34,876 4,328, , ,909 61,519, % Caricom: Other 13,622,035 1,040, , ,131 6,326,046 26,000, ,478 3,971, ,759 52,421,962 REPORT ON INSURANCE AND PENSIONS 207

210 TABLES NAME OF PLAN Brought Forward 51 Point Lisas Industrial Development Corporation Pension Fund Plan 52 Port Authority of Trinidad and Tobago (Daily / Weekly) Pension Plan 53 Port Authority of Trinidad and Tobago (Monthly Paid) Pension Plan 54 PriceWaterhouseCoopers Pension Plan 55 RBTT Pension Plan 56 Republic Bank of Trinidad and Tobago Pension Fund Plan 57 RHA Pension Plan 58 Scotiabank Trinidad and Tobago Pension Fund Plan 59 Servol Pension Fund Plan 60 Telecommunications Services of Trinidad and Tobago Pension Fund Plan 61 Texaco (Trinidad) Staff Retirement Plan 62 The Demerara Life Assurance Company of Trinidad and Tobago Sales Staff Pension Fund Plan 63 The Guyana and Trinidad Mutual Fire Insurance Company Pension Plan 64 The Home Mortgage Bank Pension Fund Plan 65 The Mercantile Banking and Finance Corporation Ltd. Pension Fund Plan 66 The West Indian Tobacco Company Ltd. Pension Fund Plan 67 Thomas Peake and Company Pension Plan 68 Trinidad Building and Loan Association Pension Fund Plan 69 Trinidad Cement Employees Pension Fund Plan 70 Trinidad Hilton Pension Fund Plan 71 Trinidad and Tobago Eletricity Commission Pension Fund Plan 72 Trinidad and Tobago Electricity Commission Provident Fund 73 Trinidad and Tobago External Telecommunications Company Pension Fund 74 Trinidad and Tobago Methanol Company Pension Fund Plan 75 Trinidad and Tobago National Petroleum Marketing Company Contributory Pension Plan I Carried Forward TABLE XXXII continued SELF ADMINISTERED BALANCE SHEET 2006 Trinidad and Tobago Government Securities denoted in T.T. Mortgages Real Estate Trinidad and Tobago Equities Fixed / call Deposit Other Trinidad and Tobago Assets Trinidad and Tobago Securities denoted in Foreign Currency Trinidad & Tobago Government Securities denoted in Foreign Currency 10% Caricom: Equity 10% Caricom: Government 10% Caricom: Other Total Local Assets 90% Caricom: Equity 90% Caricom: Government 90% Caricom: Other Foreign Government Securities 504,591,742 36,492,990 2,088,378, ,680,854 2,004,626, ,927,585 39,895,138 16,828,601 6,151,950 5,242,196 5,209,816, ,457,405 55,367,553 47,179,766 6,947,795 10,558,998 8,813, ,698 31,509, ,950 51,199,509 1,475,550 1,262,794 6,687,351 1,302,794 9,252,939 34,848, ,134 25,088,087 88,210, , , ,785,666 7,807,604 4,475, ,591,347 19,577,142 8,570, ,498, ,763, ,699,898 69,702,154 3,051,506 5,350, , ,825 1,817,607,560 48,155,276 1,642,859 5,587,425 69,838,914 17,764,892 15,683, ,133,566 2,000, ,527,191 38,839, ,808 1,869, ,187,357 4,777,269 16,824, ,700 7,088,457 8,425, , ,755 16,445,920 1,284,791 31,815,302 2,973, ,267, ,758,037 24,973,392 2,472,584 1,768, ,673 2,595,574 1,201,780,120 15,912,525 1,410,060 23,360,167 4,889,351 6,236,233 26,134,065 2,039,244 3,032, ,698 20,448 37,579,281 1,050, ,029 39,796 6,145,344 1,027,105 1,724,092 8,936,337 44,500 2,877,359 9,750 2,931,609 87,750 11,450,324 1,427,417 35,755,014 23,018,130 22,277, , , ,671 96,141,261 6,716,295 7,215, ,191 3,349,287 7,983,647 2,228,164 5,140,806 44,002 61,602 50,056 21,470 18,879, , ,231 35,920,939 12,255, ,940,059 93,518, ,774,454 3,364,298 2,523,352 1,365, , , ,615,301 12,289,995 3,042,277 5,525,214 92,128, ,257,225 1,972,923, ,158, ,116, ,730,193 13,482,372 3,531,395 3,202,328, ,341,351 31,782,553 11,482,611 56,017 11,538,628 44,347,986 9,439, ,923, ,822,320 36,409,145 9,901,957 1,195,650 1,973,449 1,234, ,248,000 10,760,850 17,761,037 11,111,258 2,151,519 3,271, ,232 11,778, ,121,073 19,103,338 33, , ,948, ,400 1,104,175 14,223,575 62,435,668 22,460,523 65,945,711 2,823, , , , , ,063,015 4,115,868 1,670,395 6,033,910 1,030,745, ,980,600 24,253,400 5,641,595,104 1,240,634,085 4,602,055, ,554,406 98,526,786 43,109,523 12,300,729 14,529,369 13,526,285, ,985, ,706, ,764,322 14,753,856 Other Foreign Securities 16,627,718 3,225, ,250 3,810,131 7,955,995 32,080,333 Foreign Equity 321,275,453 5,891, ,768,668 3,274,162 6,128,226 6,603,697 2,367,000 20,309,462 7,821,030 18,366,975 25,281, ,088,135 Total Foreign Assets 598,855,689 1,475,550 18,174, ,154,228 24,826,914 1,746,041 52,656,395 7,362,536 87,750 21,300,219 3,010,732 49,122, ,123,904 49,605,694 19,773,550 37,102,044 1,417,378,918 Total Assets in Fund 5,808,672,524 52,675,059 9,252, ,960,394 2,196,761, ,014,271 18,191,960 1,254,436,515 44,941,817 8,936,337 3,019, ,441,480 21,889, ,738,244 3,355,452,175 11,538, ,853, ,722, ,165,058 14,943,664,460 Total Local Asset Ratio LOCAL EQUITY % Caricom: Equity 168,286,005 1,639,500 8,675,115 53,505,862 5,308,077 1,427,545 17,680,583 1,166,979 97,500 7,462, ,557 13,655, ,823,723 11,956, ,000 4,573, ,095, % Caricom: Government 61,519,503 4,972,815 1,825,399 18,693,784 1,566,733 8,016, ,701 3,380,308 19,734,486 1,226,861 1,855, ,007, % Caricom: Other 52,421,962 6,208,250 25,955, ,477 6,139,127 35,313,948 12,345,842 6,704, ,293, REPORT ON INSURANCE AND PENSIONS

211 TABLES NAME OF PLAN Brought Forward 76 Trinidad and Tobago National Petroleum Marketing Company Contributory Pension Plan II 77 Trinidad and Tobago Oil Company Contributory Pension Fund A 78 Trinidad and Tobago Oil Company Contributory Pension Fund B 79 Trinidad and Tobago Oil Company NonContributory Pension Fund 80 Trinidad and Tobago Oil Company Employeess Benefit Plan 81 Trinidad and Tobago Oil Company Staff Retirement Plan 82 Trinidad and Tobago Petroleum Company Employees Pension Fund Plan 83 Trinidad and Tobago Petroleum Company Staff Pension Fund Plan 84 Trinidad and Tobago Port Contractors Employees Pension Fund Plan 85 Trinidad and Tobago Telephone Company Staff Pension Fund Plan 86 Trinidad and Tobago Unit Trust Corporation Pension Fund Plan 87 Trinmar Employees Benefit Plan 88 Trintoplan Consultant Staff Pension Plan 89 T. Geddes Grant (Trinidad) Staff Savings and Pension Fund Plan 90 T. Geddes Grant Pension Fund Plan 91 Water and Sewerage Authority Pension Fund Plan 92 Y De Lima & Company Staff Pension Fund Plan GRAND TABLE XXXII continued SELF ADMINISTERED BALANCE SHEET 2006 Trinidad and Tobago Government Securities denoted in T.T. Mortgages Real Estate Trinidad and Tobago Equities Fixed / call Deposit Other Trinidad and Tobago Assets Trinidad and Tobago Securities denoted in Foreign Currency Trinidad & Tobago Government Securities denoted in Foreign Currency 10% Caricom: Equity 10% Caricom: Government 10% Caricom: Other Total Local Assets 90% Caricom: Equity 90% Caricom: Government 90% Caricom: Other Foreign Government Securities 1,030,745, ,980,600 24,253,400 5,641,595,104 1,240,634,085 4,602,055, ,554,406 98,526,786 43,109,523 12,300,729 14,529,369 13,526,285, ,985, ,706, ,764,322 14,753,856 20,359,184 4,636,340 73,151, ,000 88,576,098 14,851, ,750 1,045, ,492,849 9,407,921 83,131,374 9,919, ,952,194 37,350, ,123,194 31,931,445 2,902,970 2,529, , ,620,428 26,126,728 22,765,127 7,025,391 3,578,383 90,236,669 13,678, ,993,007 20,000, ,874,934 52,172,752 3,243,705 4,485,648 1,967, ,652,540 29,193,345 40,370,830 17,707,352 5,735, ,236,740 7,075, ,709,632 29,956, ,546, ,162,940 15,835,983 5,088,618 6,667,657 11,183,772 1,642,463,491 45,797,558 60,008, ,653,947 61,378,951 61,378,951 32,817,219 9,067, ,269, ,326,755 10,994,681 3,334,620 1,582,886 1,689, , ,562,108 14,245,974 15,201,887 4,322,629 1,816,599 96,029, ,304,065 13,999, ,795,987 1,663,555 2,457, ,275 80, ,537,528 1,865, ,601 3,099, ,567 1,563,159 5,443,175 12,915 52,693 7,943 10,472, ,237 71,487 1,578,656, ,650,234 24,253,400 7,302,537,527 1,342,439,246 6,214,121, ,344, ,527,359 57,232,994 27,753,102 28,949,459 17,826,465, ,096, ,777, ,545,127 25,883,977 Other Foreign Securities 32,080, ,968, ,048,884 Foreign Equity 741,088,135 3,012,155 63,380,564 39,422,876 9,047, ,951,240 Total Foreign Assets 1,417,378,918 12,420, ,876, ,975, ,460,419 75,009,965 11,637, ,724 2,072,304,097 Total Assets in Fund 14,943,664, ,912, ,496,622 1,101,627,757 1,848,923,909 61,378, ,572, ,175,114 11,017,736 19,898,769,546 Total Local Asset Ratio LOCAL EQUITY RATIO % Caricom: Equity 431,095,233 10,453,245 29,029,698 32,437,050 50,886,175 15,828,860 2,072, , ,329, % Caricom: Government 123,007,291 25,294,586 44,856,478 66,676,571 16,890, , ,531, % Caricom: Other 145,293,691 7,805,990 19,674, ,837,719 4,802,921 79, ,494,586 REPORT ON INSURANCE AND PENSIONS 209

212 TABLES TABLE XXXIII SELFADMINISTERED PENSION FUND PLANS REVENUE ACCOUNT2006 NAME OF PLAN Fund at the beginning of Period CONTRIBUTIONS BY Employers Employees Additional Contributions by Employers to meet Deficiency Interests, Dividends and Rents Other Income Total Revenue SUPERANNUATION BENEFITS Pensions to Retired Employees Retirement Gratuities Total Death Grants 1 Agostini Insurance Brokers Pension Fund Plan 41,544, , ,288 1,593,631 9,099 44,359,275 1,185, ,752 1,320,413 2 Agostini Retirement Plan 60,876, , ,862 2,538,172 60,750 64,995, ,148 55, ,141 3 Airports Authority of Trinidad and Tobago Pension Fund 78,531,187 3,440,213 1,241,498 4,176,647 21,878 87,411, , , ,362 4 Alstons Pension Fund Plan 5 Amoco Trinidad Oil Company Pension Fund Plan 479,325,110 13,343,458 8,439,076 17,827, , ,334,447 9,692,159 8,802,959 18,495,118 6 ANSA Mc Al Pension Fund Plan 57,649,138 1,578,172 1,578,172 2,743,721 63,549, , , ,890 77,791 7 Associated Brands Group Pension Fund Plan 43,984, ,042 1,220,051 2,077, ,135 48,356,806 1,405,304 1,405,304 8 Atlantic LNG Pension Plan 28,036,867 4,688,293 4,150,190 2,810,000 1,466,027 6,276 41,157,653 9 Bank of Commerce Trinidad and Tobago Retirement Plan 213,562,083 52, ,045 6,998, ,665, , , Bawodes Pension Fund Plan 7,975, , , ,683 91,829 9,034, Berger Paints Trinidad Pension Fund Plan (Monthly Paid Employees) 28,009,900 1,449,623 (491,958) 28,967, , ,383 46, BritishAmerican Insurance Company (Trinidad) Pension Fund Plan 19,902, , ,005 1,291,172 22,419, , , British Gas Trinidad Pension Plan 19,675,063 3,218,984 2,483, , ,392 26,430,786 18, , , BWIA General Staff Pension Fund Plan 212,230,905 8,283,840 4,080,758 14,193,765 58, ,847,952 1,337, ,939 2,139, BWIA Pilots Pension Plan 16 Caribbean Industrial Research Institute Pension Fund Plan 132,603, ,998,334 22, ,626,233 1,841, ,644 2,658, Central Bank of Trinidad and Tobago Pension Fund Plan 18 Citibank (Trinidad and Tobago) Pension Plan 79,276,094 4,502, ,080 83,977, , , , Coca Cola Bottling (Trinidad and Tobago) Pension Fund Plan 17,162, , , ,062 8,596 19,386, ,902 38, ,869 52, Consolidated Insurance Consultants Staff Pension Fund Plan 102,709,202 4,935, , ,765, , , Coopers and Lybrand Pension Fund Plan 14,270,249 11,042,494 14,088, ,038 (770,326) 39,215, , ,695 1,031, Courts (Trinidad) Pension Plan 18,590,464 1,246,683 1,318, ,170 5,749 21,961, , , , Cuna Caribbean Insurance Society Pension Fund Plan 30,319, , ,634 1,428, ,949 33,078, ,144 64, , Development Finance Pension Fund Plan 37,554,494 13,443 1,931, ,499, , , , EOG Resources Trinidad Pension Fund Plan 9,488, , , , ,831,063 54,308 54,308 Carried Forward 1,733,278,454 52,095,915 42,254,071 2,810,000 79,064, ,939 1,909,872,762 19,701,219 13,158,167 32,859, ,360 Return of Contribution on Withdrawal 144, ,384 71, , ,367 79, ,046 94, , ,733 1,407, , , ,483 10,081 4,574,544 Other Expenditure 6,955,272 2,229,714 6,296,742 19,227,864 4,559,103 2,979,842 1,121,760 24,603,531 12, ,466 2,612, ,975 6,947,444 18,075,785 4,575, ,127 13,085,300 48, ,209 4,888,275 2,530,800 1,294, ,773,555 Total Expenditure 8,420,433 3,097,239 7,088,934 38,213,489 5,878,151 4,464,955 1,306,806 24,861, , ,658 3,024,802 1,089,423 10,494,589 20,734,400 5,397,871 1,427,007 13,407,240 1,079,216 1,662,102 5,352,082 3,260,748 1,358, ,384,845 Funds at end of Period 35,938,842 61,898,699 80,322, ,120,958 57,671,052 43,891,851 39,850, ,803,599 8,927,861 28,308,907 19,394,981 25,341, ,353, ,891,833 78,579,247 17,959,206 94,358,672 38,136,650 20,299,635 27,726,867 36,238,457 9,472,538 1,747,487, REPORT ON INSURANCE AND PENSIONS

213 TABLES TABLE XXXIII continued SELFADMINISTERED PENSION FUND PLANS REVENUE ACCOUNT2006 NAME OF PLAN Fund at the beginning of Period CONTRIBUTIONS BY Employers Employees Additional Contributions by Employers to meet Deficiency Interests, Dividends and Rents Other Income Total Revenue SUPERANNUATION BENEFITS Pensions to Retired Employees Retirement Gratuities Total Death Grants Brought Forward 1,733,278,454 52,095,915 42,254,071 2,810,000 79,064, ,939 1,909,872,762 19,701,219 13,158,167 32,859, , E & Y Services Pension Scheme 35,846, , ,262 1,185,685 (4,667,688) 33,175,040 1,304,715 76,410 1,381, Ferreira Optical Pension Fund Plan 12,575, , , , ,621 13,977, , , , First Citizen Bank Pension Plan 660,102,911 4,297,518 4,289,550 31,997,387 (89,070,922) 611,616,444 4,064,875 2,217,695 6,282,570 61, Hand Arnold (Trinidad) Employees Pension Scheme 66,895, ,032 3,005, ,460 71,350,239 1,281, ,029 1,804, H.S. Services Pension Fund Plan 10,792, , , , ,914 12,585, Hydro Agri Trinidad Salaried Employees Pension Plan 32 I A L Engineering Sevices Pension Fund Plan 65,772,570 1,186,938 3,093,090 43,686 70,096, , ,509 1,290, I.B.M. Non Contributory Pension Fund Plan 48,585,439 1,916, ,650 51,262,118 1,007,180 1,007, Insurance Brokers (West Indies) Pension Fund Plan 7,429,004 5, ,342 4,833 7,941, Lever Brothers West Indies Pension Fund Plan 36 MandevQualassure Pension Fund Plan 70,192, , ,250 3,445,022 (11,293,918) 63,342, , , , Mega Insurance Company Pension Plan 29,145, , ,881 1,533,398 35,030 31,081, , , ,198 3, Mittal Steel Point Lisas Employees Pension Fund Plan 639,717,163 4,375,477 4,409,934 26,349, , ,047,618 6,315,765 3,873,715 10,189, National Gas Company Pension Fund Plan 248,958,706 11,617,457 4,149,092 9,502, , ,524, , ,389 1,866, National Insurance Board Pension Fund Plan 657,016,961 2,481,352 2,488,801 28,728,655 1,347, ,062,855 8,519,297 2,216,750 10,736, , National Insurance Property Development Company Pension Fund Plan 47,795, , ,740 2,123,335 5,237 50,429, , , National Union of Government and Federated Workers Elected Officers Pension Fund Plan 3,182, ,598 30,953 14, ,328, , , National Union of Government and Federated Workers Staff Pension Fund Plan 24,744, , ,011 1,228,177 6,854 26,585, , ,462 1,031, Neal and Massy Group Pension Plan 1,139,975,845 63,120 2,477 51,914,339 13,475,309 1,205,431,090 17,422,953 5,567,472 22,990, , Nestle Trinidad and Tobago Pension Fund Plan 74,941,761 3,658,048 1,425,618 2,129, ,351 82,948,733 2,057, ,800 2,533, Nestle Trinidad and Tobago Unionised Employees Pension Plan 21,390,321 5,306,922 1,299,800 1,025,844 6,596 29,029, , , , Niherst Pension Fund Plan 23,932, , ,356 1,226,383 12,140 26,165, , ,094 3,324, PCS Nitrogen Trinidad Pension Fund Plan No I 362,631,118 1,314,470 1,407,853 17,345, ,698,950 2,831, ,524 3,095, PCS Nitrogen Trinidad Pension Fund Plan No II 21,298, , , ,746 2,433 22,885, ,615 22, , Phoenix Park Gas Processors Staff Pension Plan 28,740,783 1,056,637 1,061,798 1,296,577 2,977 32,158,772 1,645, ,618 2,194,472 Carried Forward 6,034,943,729 90,176,160 67,344,096 2,810, ,806,282 (86,482,107) 6,379,598,160 70,580,062 32,010, ,591,052 4,062,356 Return of Contribution on Withdrawal 4,574,544 95, ,636 51,345 73,284 56, ,825 20, ,185 54,535 72,385 94,770 1, , ,707 32,695 63, ,874 19,311 47,488 6,699,676 Other Expenditure 124,773, ,795 1,513,811 3,493,722 9,782,573 1,569,839 4,868,431 16, , ,330 1,839,985 19,769,948 8,116,097 93,254,292 7,701, ,197 2,780, ,098,907 4,041,325 2,261, ,410 18,943, ,720 1,323, ,017,391 Total Expenditure 162,384,845 1,637,707 2,588,668 9,888,995 11,660,775 1,626,360 6,287,695 1,023, , ,025 2,738,899 30,136,613 10,037, ,163,960 7,898, ,260 3,813, ,077,833 6,862,646 2,619,809 3,703,709 22,171,241 1,082,931 3,565, ,370,475 Funds at end of Period 1,747,487,917 31,537,333 11,388, ,727,449 59,689,464 10,959,490 63,808,589 50,238,295 7,748,929 62,468,733 28,342, ,911, ,487, ,898,895 42,531,457 2,995,158 22,771,608 1,008,353,257 76,086,087 26,409,674 22,461, ,527,709 21,802,343 28,593,755 5,785,227,685 REPORT ON INSURANCE AND PENSIONS 211

214 TABLES TABLE XXXIII continued SELFADMINISTERED PENSION FUND PLANS REVENUE ACCOUNT2006 NAME OF PLAN Fund at the beginning of Period CONTRIBUTIONS BY Employers Employees Additional Contributions by Employers to meet Deficiency Interests, Dividends and Rents Other Income Total Revenue SUPERANNUATION BENEFITS Pensions to Retired Employees Retirement Gratuities Total Death Grants Brought Forward 6,034,943,729 90,176,160 67,344,096 2,810, ,806,282 (86,482,107) 6,379,598,160 70,580,062 32,010, ,591,052 4,062, Point Lisas Industrial Development Corporation Pension Fund Plan 50,195,591 1,325,419 1,336,189 2,948, ,806, , , , Port Authority of Trinidad and Tobago (Daily / Weekly) Pension Plan 53 Port Authority of Trinidad and Tobago (Monthly Paid) Pension Plan 54 PriceWaterhouseCoopers Pension Plan 29,249,791 1,299,221 30,549, , , RBTT Pension Plan 124,428,912 24,621,205 9,688,114 1,366, ,104, , , , , Republic Bank of Trinidad and Tobago Pension Fund Plan 2,388,609,325 59,344,906 3,230,408 2,451,184,639 19,376,399 6,644,719 26,021, RHA Pension Plan 58 Scotiabank Trinidad and Tobago Pension Fund Plan 433,693,935 26,084,352 (26,043,725) 433,734,562 4,611,788 2,180,993 6,792, Servol Pension Fund Plan 18,849, , , ,650 21,125, , , Telecommunications Services of Trinidad and Tobago Pension Fund Plan 1,284,505,605 43,690,723 14,878,535 30,340,626 1,368,246 1,374,783,735 28,434,377 24,493,930 52,928, , Texaco (Trinidad) Staff Retirement Plan 45,764, , ,480 1,524,754 17,769 47,605,572 1,234,415 1,234,415 51, The Demerara Life Assurance Company of Trinidad and Tobago Sales Staff Pension Fund Plan 63 The Guyana and Trinidad Mutual Fire Insurance Company Pension Plan 64 The Home Mortgage Bank Pension Fund Plan 11,488,572 1,825, , ,288 (354,567) 13,496,135 4,154,814 4,154, The Mercantile Banking and Finance Corporation Ltd. Pension Fund Plan 2,743,884 46,666 46, ,909 (13,537) 3,025, The West Indian Tobacco Company Ltd. Pension Fund Plan 123,642,312 1,388,365 1,280,553 5,778,150 72, ,161,887 4,995,645 3,070,553 8,066, , Thomas Peake and Company Pension Plan 21,496, , , ,548 8,338 22,995, ,709 53, , Trinidad Building and Loan Association Pension Fund Plan 69 Trinidad Cement Employees Pension Fund Plan 597,877,810 5,290,528 4,106,102 23,464, , ,874,371 8,922,725 6,791,845 15,714, , Trinidad Hilton Pension Fund Plan 71 Trinidad and Tobago Eletricity Commission Pension Fund Plan 3,469,681,335 41,546,506 20,773, ,046, ,401 3,642,928,782 76,069,318 76,069,318 6,341, Trinidad and Tobago Electricity Commission Provident Fund 10,047, ,816 10,676, Trinidad and Tobago External Telecommunications Company Pension Fund 282,648,341 24,864,152 8,305, ,818,082 39,576 39, Trinidad and Tobago Methanol Company Pension Fund Plan 158,407,741 63,504 63,504 7,864,739 1,053, ,453,066 1,322, ,153 1,656, Trinidad and Tobago National Petroleum Marketing Company Contributory Pension Plan I 201,582,294 1,679,601 3,583,144 8,294, , ,403,331 1,809, ,478 2,720, ,855 Carried Forward 15,289,856, ,840, ,733,724 2,810, ,275,010 (96,189,881) 16,109,325, ,045,570 76,993, ,038,773 12,168,464 Return of Contribution on Withdrawal 6,699, ,753 80, ,717 9,269,865 50, , ,171 22,447 42, ,144 41,082 18,076,568 Other Expenditure 481,017,391 3,526,235 20,995,620 3,060, ,347,283 3,948,001 2,448,811 62,654,693 1,373, ,129 6,312, ,791 13,546, ,288, ,971 79,245,812 1,529,032 18,588,601 1,155,512,980 Total Expenditure 594,370,475 4,124,507 21,304,872 3,902, ,368,401 10,740,782 2,938, ,823,584 2,709,838 4,559,798 8,729 15,048,632 1,160,567 29,442, ,322, ,971 79,285,388 3,185,605 21,502,032 1,485,796,785 Funds at end of Period 5,785,227,685 51,681,675 9,244, ,201,817 2,194,816, ,993,780 18,187,360 1,248,960,151 44,895,734 8,936,337 3,016, ,113,255 21,834, ,431,813 3,334,606,683 9,678, ,532, ,267, ,901,299 14,623,528, REPORT ON INSURANCE AND PENSIONS

215 TABLES TABLE XXXIII continued SELFADMINISTERED PENSION FUND PLANS REVENUE ACCOUNT2006 NAME OF PLAN Fund at the beginning of Period CONTRIBUTIONS BY Employers Employees Additional Contributions by Employers to meet Deficiency Interests, Dividends and Rents Other Income Total Revenue SUPERANNUATION BENEFITS Pensions to Retired Employees Retirement Gratuities Total Death Grants Brought Forward 15,289,856, ,840, ,733,724 2,810, ,275,010 (96,189,881) 16,109,325, ,045,570 76,993, ,038,773 12,168, Trinidad and Tobago National Petroleum Marketing Company Contributory Pension Plan II 230,232,718 2,621,642 1,228,896 10,530,647 1,279, ,893,232 5,853,088 1,261,509 7,114, Trinidad and Tobago Oil Company Contributory Pension Fund A 78 Trinidad and Tobago Oil Company Contributory Pension Fund B 921,830,451 7,415,728 3,729,635 42,452,107 3,577, ,005,052 7,284, ,240 7,758,178 1,173, Trinidad and Tobago Oil Company NonContributory Pension Fund 80 Trinidad and Tobago Oil Company Employeess Benefit Plan 81 Trinidad and Tobago Oil Company Staff Retirement Plan 82 Trinidad and Tobago Petroleum Company Employees Pension Fund Plan 83 Trinidad and Tobago Petroleum Company Staff Pension Fund Plan 1,187,945,626 10,097,615 5,138,114 55,889,870 11,486,907 1,270,558,132 25,413,507 2,708,124 28,121, , Trinidad and Tobago Port Contractors Employees Pension Fund Plan 85 Trinidad and Tobago Telephone Company Staff Pension Fund Plan 1,575,198,143 5,532,677 5,277,012 93,178,302 37,084,777 1,716,270,911 22,290,473 58,533,276 80,823, , Trinidad and Tobago Unit Trust Corporation Pension Fund Plan 61,972,590 4,709,406 1,681,931 21,675 89,300 68,474, , ,794 1,211,017 2,525, Trinmar Employees Benefit Plan 443,634,580 10,087,813 5,884,554 25,310,246 19, ,936,193 1,427,315 7,547,127 8,974, , Trintoplan Consultant Staff Pension Plan 89 T. Geddes Grant (Trinidad) Staff Savings and Pension Fund Plan 90 T. Geddes Grant Pension Fund Plan 91 Water and Sewerage Authority Pension Fund Plan 520,306,468 4,635,711 2,867,210 21,868,368 (74,571,387) 475,106,370 18,637, ,759 19,142,411 1,271, Y De Lima & Company Staff Pension Fund Plan 11,672, ,328 12,324, , ,105 GRAND 20,242,649, ,940, ,541,076 2,810, ,178,553 (117,224,824) 21,361,895, ,777, ,863, ,640,903 18,470,312 Return of Contribution on Withdrawal 18,076, ,457 53,701 3,670, , ,087 31,401 22,587,148 Other Expenditure 1,155,512,980 23,536, ,152, ,139, ,971,229 3,198,753 60,253,525 (20,895) 673,891 1,727,418,267 Total Expenditure 1,485,796,785 30,894, ,138, ,690, ,202,365 7,284,843 69,554,643 20,424,622 1,129,996 2,222,116,630 Funds at end of Period 14,623,528, ,998, ,866,681 1,100,867,757 1,415,068,546 61,190, ,381, ,681,748 11,194,936 19,139,778,474 REPORT ON INSURANCE AND PENSIONS 213

216

217

218

219

220 Telephone: (868) Fax: (868)