Standardized Reporting of Unclaimed Monies Under Section 197(5) of The Insurance Act, 2018

Eric Williams Plaza, Independence Square Port of Spain, Trinidad and Tobago Postal Address: P.O. Box 1250 Telephone: (868) 621-CBTT (2288), 235-CBTT (2288) Fax: (868) 612-6396 E-Mail Address: info@central-bank.org.tt Website: www.central-bank.org.tt July 22, 2025 Circular Letter to: Insurance Companies Registered Under the Insurance Act, 2018 Association of Trinidad and Tobago Insurance Companies (ATTIC) REF: CB-OIFI-2333/2025 STANDARDIZED REPORTING OF UNCLAIMED MONIES UNDER SECTION 197(5) OF THE INSURANCE ACT, 2018 In accordance with section 197(5) of the Insurance Act, 2018 (the Act), all insurers are required to submit to the Central Bank of Trinidad and Tobago (Central Bank), all monies that remain unclaimed after expiration of the prescribed publication and claim periods, as outlined in sections 197(1) and 197(3) of the Act, respectively. To enhance efficiency, improve accuracy and streamline the processing of unclaimed monies received under section 197(5), the Central Bank is implementing a standardized reporting system. Accordingly, effective immediately, all insurers are required to comply with the following requirements at the time of submitting the listing for the unclaimed payments being made to the Central Bank in accordance with section 197(5):

1. Submissions must follow the prescribed MS Excel format, which is available at: https://www.central-bank.org.tt/resources-category/publications-and￾research/#insurance-sector-regulatory-returns
2. Electronic submissions should be emailed to insurance_reports@central￾bank.org.tt using PGP (Pretty Good Privacy) encryption software or other compatible software to preserve the confidentiality of supervisory information.
3. Information must be submitted in both hard-copy and electronically, under the company’s cover letter. Questions regarding this new reporting process should be submitted to unclaimedmonies@central-bank.org.tt. Insurers are asked to note that requirements related to the publication of statements in accordance with section 197(1) of the Act, and subsequent submission to the Central Bank remain unchanged. Kindly acknowledge receipt of this letter electronically. Yours sincerely Patrick Solomon INSPECTOR OF FINANCIAL INSTITUTIONS