PHILIPSBURG, Sint Maarten — During a recent press conference, State Secretary Van Huffelen stated that the Government of St. Maarten had to “come up with a solution to the problems at the pension insurer Ennia.”
She also indicated that these so-called solutions would be tied to the restructuring of the liquidity support loans. In August of 2021, the Central Bank of Curacao and St. Maarten (CBCS) affirmed that it will “continue to focus on the restructuring of ENNIA to safeguard the interests of the policy holders.”
In November of 2021, the Court of First Instance stated that the Central Bank of Curacao and St. Maarten (CBCS) had been at the helm of ENNIA since July of 2018 and based on the “Landsverordening Toezicht Verzekeringsbedrijf (LTV), insurers (i.e. ENNIA) are supervised by (formerly) the Bank of Netherlands Antilles and (currently) the CBCS.
We are kindly requesting the State Secretary to provide the Government of St. Maarten with a sound legal basis whereby a government is held fiscally responsible for the financial irregularities of an insurance company when “Landsverordening Toezicht Verzekeringsbedrijf” (LTV) clearly states that insurance companies fall under the purview of the CBCS.