As I prepare to present to you on the issues and challenges that are currently facing us in the Caribbean region, I would like to first update you on some important supervisory changes that have occurred in Trinidad and Tobago over the last few days.
As many of you are aware, our Government had been working assiduously to have the Central Bank of Trinidad and Tobago assume the role of the Supervisor and Regulator of the insurance industry and registered pension plans. This has become a reality as an amendment to the current Insurance Act was enacted May 25th, 2004.