WILLEMSTAD - The Fair-Trade Authority Curaçao (FTAC) rejects the complaint from the Federation of Healthcare Institutions (SFZ) regarding the 'abuse of a dominant position' by the ENNIA Insurance Company.
Last week, the FTAC decided on this complaint. The complainant requested the FTAC to take enforcement action against ENNIA because, according to SFZ, this company 'abused its dominant position' as referred to in the National Ordinance on Competition.
This specifically concerns the dominant position on the market for capital and/or pension insurance. ENNIA's behavior about which the healthcare federation complained to the FTAC consists of two components. Firstly, not cooperating with the value transfer to another (pension) insurer; and secondly, compensation for interest that is lower than the market rate on the capital accrued with ENNIA and no pension purchase that is in line with the market.
According to records, the complaint dates back to February this year. The Federation of Healthcare Institutions Foundation has been authorized in this case by seven healthcare institutions affiliated to it: Birgen di Rosario; Kuido Integral Banda Bou Foundation; Home Care Banda Bou Foundation; the SGR Group; Betasda; White Yellow Cross; and Fundashon Kontakto. The complaint was accompanied by a letter from Keesen Actuarissen to the Central Bank of Curaçao and St. Maarten (CBCS) as an appendix and the reply from the Bank thereto.
In March, the FTAC informed insurer ENNIA Caribe Leven and the Central Bank, as ENNIA's 'curator', about the complaint. Later, SFZ also submitted other documents, such as offers from APC, Aska, Guardian and Vidanova.
After investigation and assessment, FTAC concludes that based on the emergency regulation pronounced by the court on legal grounds, the CBCS has 'exclusive control' over the entities of ENNIA Caribe Holding, including ENNIA Caribe Leven.
ENNIA is acting under direct instructions of the CBCS. In doing so, the CBCS acts based on its statutory task, mandated in the National Ordinance on Insurance Supervision and not as a company, said the FTAC.
The provisions regarding abuse of a dominant position in the national ordinance are explicitly aimed at companies. "As a result, the National Ordinance on Competition does not apply to the actions of the CBCS/ENNIA to which the complaint was directed."
The decision and the documents relating to the case are available for inspection at the FTAC for a period of six weeks from five days after publication, except for (company) confidential information.