Reminder for Parallel Run submissions

CENTRAL BANK OF TRINIDAD & TOBAGO Eric Williams Plaza, Independence Square, Port-of-Spain, Trinidad, Trinidad and Tobago Postal Address: P.O. Box 1250 Telephone: (868) 625-4835; 4921; 5028; Fax: (868) 627-4696 E-Mail Address: info@central-bank.org.tt Website: www.central-bank.org.tt

June 18, 2010

CIRCULAR LETTER TO ALL INSURANCE COMPANIES

REF: CB-OIFI-1274/2010

Parallel Run Valuation of the Long Term Insurance Business, Non-Life Outstanding Claims Reserves and Capital Adequacy Framework

Following the Circular Letter issued by Carl Hiralal, Inspector of Financial Institutions on March 17, 2010, we take this opportunity to remind you of your Parallel Run submissions due June 30, 2010 and our request for the new Form B4 Schedules for the previous 5-years’ financial year-ends.

In order to afford a complete assessment of the implementation of the draft Regulations and proposed Schedules in this Parallel Run, we are also requesting that companies complete the revised Form D1 – Balance Sheet and Form D3 – Statutory Fund Requirement. These revised forms and all other required information regarding the Parallel Run submissions are posted on the Central Bank’s website at http://www.central-bank.org.tt/financial_stability/index.php?pid=3079.

Soft copies of your submissions and/or queries you may have at this time can be emailed to insurance_reports@central-bank.org.tt. Companies are encouraged to use PGP (Pretty Good Privacy) encryption software or any other compatible software for electronic submission.

Copies of the required information must also be submitted to my Office.

We look forward to receiving your submissions by June 30, 2010 and please contact us early if you are experiencing any difficulties with the completion of the forms.

Yours sincerely

A A Roberts

Anthony Roberts Chief Actuary

c.c.: CFO and Appointed Actuaries