Regulatory Alerts2007-01-01
Insurance (Amendment) Act, 2007
The Parliament of Trinidad and Tobago enacted the Insurance (Amendment) Act, 2007 to restrict how statutory funds and registered pension plans invest their assets. The legislation amends Sections 46 and 186 of the Insurance Act to mandate that all investments comply strictly with the updated Second Schedule, while introducing tiered equity investment limits for pension funds exceeding 150 percent of their actuarial liabilities. These provisions empower the Central Bank to specify investment requirements via Gazette notice and standardize liability calculations based on the most recent actuarial investigations.
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