WILLEMSTAD/PHILIPSBURG:--- WILLEMSTAD/PHILIPSBURG - The Centrale Bank van Curaçao en Sint Maarten (CBCS), with the support of the Governments of Curaçao and Sint Maarten and in the interest of policyholders and other creditors has been taking important steps to resolve the financial challenges surrounding the ENNIA Group.
As of January 1, 2025, a new insurance group has begun operations as a solvent and independently functioning insurance group. The new ENNIA Group comprises four companies licensed by the Central Bank of Curaçao and Sint Maarten (CBCS) and De Nederlandsche Bank (DNB) to carry out insurance activities.
A new ENNIA Insurance Group
As of January 1, 2025, the newly established insurance group is headed by ENNIA Holding N.V., a completely new entity that serves as the shareholder of the newly created ENNIA Leven N.V. and the already existing, financially stable companies ENNIA Caribe Schade N.V. and ENNIA Caribe Zorg N.V. (hereinafter collectively referred to as ENNIA (new)). ENNIA (new) operates under a sustainable ownership structure and is adequately capitalized.
ENNIA Leven N.V., ENNIA Caribe Schade N.V., and ENNIA Caribe Zorg N.V. are licensed by the Central Bank of Curaçao and Sint Maarten (CBCS) to conduct insurance activities in Curaçao and Sint Maarten. Additionally, at the request of the CBCS, the Court of First Instance of Curaçao (the Court) lifted the emergency regulation for ENNIA Caribe Schade N.V. and ENNIA Caribe Zorg N.V.
as of the same date.
Both ENNIA Leven N.V. and ENNIA Caribe Schade N.V. have also received licenses from De Nederlandsche Bank (DNB) to operate as insurers in the BES Islands.
The old ENNIA structure will remain under the emergency regulation. The establishment and launch of ENNIA (new) on January 1, 2025, marks a significant milestone in addressing the financial challenges faced by ENNIA. However, further steps will continue to be taken in the coming period to resolve matters related to ENNIA’s old structure.
For clarity, it is important to note that ENNIA Caribe Holding N.V. and ENNIA Caribe Leven N.V.
(ENNIA (old)) are not part of the newly formed insurance group. To prevent confusion, these companies have been renamed VEHIA N.V. and VELIA N.V., respectively. The old structures, including VEHIA N.V. and VELIA N.V., remain under emergency regulations administered by the Centrale Bank van Curaçao en Sint Maarten (CBCS).
As part of this administration, the CBCS remains committed to pursuing the recovery of damages from Parman International, Ansary, and others.
Split of the life insurance portfolio and further information
A portion of the life insurance portfolio of VELIA N.V. (formerly ENNIA Caribe Leven N.V.) has been transferred to the newly established ENNIA Leven N.V. This transfer pertains to the liabilities accrued from premiums paid by policyholders on or after July 4, 2018, the date on which the emergency regulation was issued. Simultaneously, the assets (or investments) legally backing these
insurance liabilities were also transferred to ENNIA Leven N.V.
Insurance liabilities accrued before the issuance of the emergency regulation on July 4, 2018, remain with VELIA N.V. Pursuant to the agreements between the Governments of Curaçao and Sint Maarten and the CBCS under the Headline Agreement, VELIA will fully pay these liabilities to the policyholders. To allow for this split, the Court of First Instance of Curaçao authorized the
CBCS on September 16, 2024, under the National Ordinance on the Supervision of the Insurance Industry.
The ENNIA FAQs1 provides detailed information on what the policy splitting involves. Policyholders
of ENNIA Caribe Leven can find answers to the most frequently asked questions in the FAQs or
contact ENNIA directly by calling +5999 4343800 or sending an email to This email address is being protected from spambots. You need JavaScript enabled to view it..
Willemstad, January 3, 2025
CENTRAL BANK OF CURACAO AND SINT MAARTEN
