Published On: Fri, Jun 10th, 2016

ENNIA’s reaction to the article in Het Financieele Dagblad of June 10, 2016

Ennia-CuracaoWILLEMSTAD - In connection with the article “Antillean insurance company emptied out” that appeared in the edition of Friday June 10, 2016 of Het Financieele Dagblad (FD), Management of ENNIA announces the following:

ENNIA regrets the publication of the article that appeared this morning in the FD. This article is based on a confidential report of De Nederlandsche Bank of June 2015. The article concerns the subject “investments” that has been discussed often before and is based on a number of facts that have been taken out of context and in addition mentions some important information that does not coincide with the truth. For example, what is mentioned about Mullet Bay is de facto incorrect.

ENNIA is a professional insurance company that has been established for 68 years already in Curaçao and the Antillean islands. Since the take-over from Delta Lloyd by the Ansary group in 2005, the own equity has grown from an equity of ANG 31.5 million in 2005 to an equity of almost ANG 269 million at the end of 2015. Total Assets have increased from ANG 909 million in 2005 to ANG 2 billion at the end of 2015, the required provisions that have to be maintained to guarantee the interests of the policy holders at all times have increased from ANG 790 million in 2005 to ANG 1.7 billion at the end of 2015.

As is known, since the financial crisis in 2008, worldwide the rules – notably the solvency rules, with which banks, insurance companies and other financial institutions must comply – have been enormously sharpened. This is also the case in Curaçao and Bonaire, where the CBCS, respectively the DNB carry out supervision. ENNIA has always collaborated closely with the various Regulators in order to ensure that ENNIA keeps complying with the law and regulations. In this respect we are convinced that the interests of all policy holders are, and will remain more than sufficiently safeguarded.

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