ENNIA Resolution: Signing of the Outline Agreement | SOUALIGA NEWSDAY

SINT MAARTEN/CURACAO - The Centrale Bank van Curaçao en 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.

By jointly signing the Agreement, the parties have achieved, in good cooperation and in the interests of all ENNIA policyholders, a sustainable solution for this complex problem. 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 a restructuring that will provide for a partial restart of ENNIA, including 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 well as possible about the progress of the implementation.

During the implementation, the CBCS will continue to look after the interests of the joint creditors of the ENNIA group, including the policyholders.

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