ENNIA Resolution: Signing of the Outline Agreement 

Willemstad/Philipsburg – The Central Bank of Curaçao and Sint Maarten (CBCS) and the governments of Curaçao and Sint Maarten have signed the Outline Agreement for the resolution of the problems at ENNIA today. They jointly signed the Agreement, signaling the parties have reached, in good cooperation and in the interests of all ENNIA policyholders, a sustainable solution for this complex problem. 

In the coming months the focus will be on the implementation of the Outline Agreement. This process is an extensive one. Accuracy is therefore of great importance. The implementation is aimed at restructuring a partial restart of ENNIA, which includes the life insurer. The part of ENNIA’s insurance activities that will be the subject of the restart, will be continued outside the emergency measure, independently of the government. 

Long-term financial contributions from Curaçao and Sint Maarten and the CBCS will furthermore prevent a discount on insurance policies. In connection with these financial contributions, a Resolution Fund will be established. The CBCS will keep all stakeholders at ENNIA informed as much as possible about the progress of this implementation. During the execution of the implementation process, CBCS will continue to look after the interests of the joint creditors of the ENNIA group, including the policyholders.

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