Agreement between parties on ENNIA resolution

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Willemstad/Philipsburg – As announced in the press release of October 7, 2023, the Central Bank of  Curaçao and Sint Maarten (CBCS) has been working with the governments of Curaçao and Sint  Maarten in recent weeks to develop a plan for the resolution of the problems at ENNIA.  

The CBCS and both governments have reached an outline agreement (at a technical level) on a  solution for the ENNIA Group whereby there is no need to apply a discount on the insurance policies  of ENNIA Caribe Leven N.V. (ECL). Based on the outline agreement, a partial restart of ECL will take  place. This solution will ensure the continuity of the ENNIA Group’s services, including the life  insurance. 

The implementation of this solution is subject to the approval as set forth in the laws and regulations  of Curaçao and Sint Maarten. 

The CBCS will keep all ENNIA stakeholders as informed as possible about the progress and  implementation of this solution. Throughout that process, the CBCS will continue to look after the  interests of the ENNIA Group’s joint creditors, including policyholders.