WILLEMSTAD - The financial world is reacting with surprise to Ennia's statement to its policyholders, in which the insurer states that policyholders can continue their current insurance policies as usual and continue to take out new policies.
Ennia claims to be operational and ready to continue serving customers and partners with the same service they have provided for 75 years.
However, the company has been under the supervision of the Central Bank and has not presented financial statements since 2016, so it is impossible to determine Ennia's current financial standing and whether it can fulfill its promises.
The statement explains that the Curaçao government rejected financing from the Netherlands on October 5th. Instead, the Pisas cabinet decided to make the necessary resources available to pay pensions to ECL policyholders, likely with the involvement of a third party to guarantee the financing.
In the coming weeks, Ennia, the Central Bank of Curaçao and Sint Maarten (CBCS), and the governments of Curaçao and Sint Maarten will explore possible solutions for the restructuring of the Ennia Group.
Concerns
The growing concerns about the fate of the insurance company ENNIA Leven Caribe and the resulting consequences for policyholders are far from dispelled.
This is because it is far from clear what the controlled termination, as proposed by the government, means for their accrued or future pensions.
A frequently heard complaint was the lack of clear information about the situation, and this statement from Ennia still leaves the situation unclear.