RegAlertRule · CBTT · 25 Aug 2017 · 29555
Transitioning to the New Requirements of the Insurance Bill
The Central Bank of Trinidad and Tobago requires Life and General Insurance Companies to submit specific reports and forms related to the Quantitative Impact Study by November 30, 2013, and March 31, 2014. Submissions include the Appointed Actuary’s report, Capital Adequacy Forms, revised balance sheets, and Financial Condition Reports as mandated by draft Insurance Regulations. The Central Bank has made guidance notes, forms, and draft Regulations available on its website and mandates electronic submission with hard copies.
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
September 5, 2013
Circular letter to all Life and General Insurance Companies (with copy to CEOs), the Appointed Actuaries of Life Insurance Companies, FCR Working Group, ATTIC Secretariat and ICATT.
REF: CB-OIFI-2544/2013
Dear Sir/Madam
Re: Transitioning to the New Requirements of the Insurance Bill
Further to our letter dated August 14, 2013 ref: CB-OIFI-2307/2013 on the above-mentioned, the Central Bank of Trinidad and Tobago (Central Bank) advises that the relevant guidance notes, forms and draft Regulations for the Quantitative Impact Study (QIS) are now available on the Central Bank’s website at http://www.central-bank.org.tt/content/quantitative-impact-study. Note that the Inspector’s Directions will follow shortly.
We also wish to remind you of the following dates for submission:
| For Life Insurance Companies¹, the Appointed Actuary’s report as specified in the draft Insurance (Caribbean Policy Premium Method) Regulations | 30th Nov. 2013 |
| For all Insurance Companies, Capital Adequacy Forms as determined under the draft Insurance (Capital Adequacy) Regulations | 30th Nov. 2013 |
| For all Insurance Companies, revised Form D1 – Balance Sheet and for Foreign Insurers, Form D3 – Statutory Fund Requirements | 30th Nov. 2013 |
| For General Insurance Companies, Financial Condition Report prepared under the draft Insurance (Financial Condition Report for General Insurance) Regulations | 31st Mar. 2014 |
| For Life Insurance Companies, Financial Condition Report prepared under the draft Insurance (Financial Condition Report for Long Term Insurance) Regulations | 31st Mar. 2014 |
Soft copies of your submissions and any queries concerning this QIS should 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. Hard copies of the submissions must also be submitted to my Office.
Please do not hesitate to contact us if you are experiencing any difficulties with the completion of the study.
Yours sincerely
[Signature]
Anthony Roberts
Chief Actuary
Financial Institutions Supervision Department
¹ For General Insurance Companies, B4 schedules were previously requested by Circular Letter dated August 5, 2013
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