WILLEMSTAD, PHILIPSBURG - The government of Sint Maarten is facing mounting pressure to secure parliamentary approval for the "Ennia solution" before the upcoming elections on August 19. A letter delivered to the government emphasized the urgency of the situation, warning that failure to act could jeopardize the insurer's viability and potentially lead to bankruptcy.
This critical agreement, which was previously approved by the Parliament of Curaçao on February 29, is vital for the survival of Ennia and approximately 30,000 policyholders who depend on its services. These policyholders have faced difficulties due to questionable actions taken by Iranian-American owner Hushang Ansary, in conjunction with former directors and commissioners, necessitating an emergency arrangement to stabilize the insurer.
The "Ennia solution" is recognized as a matter of national significance, as it involves substantial public funding commitments: 30 million guilders annually for 30 years from Curaçao, 2.3 million per year for 30 years from Sint Maarten, and 15 million per year for 50 years from the Centrale Bank van Curaçao en Sint Maarten (CBCS).
With the elections fast approaching, the Sint Maarten government is urged to act swiftly to protect the interests of its citizens and ensure the future stability of Ennia.