The start of 2025 marks a major step in the resolution of ENNIA’s financial restructuring. As of January 1, ENNIA has relaunched as a financially stable and independently operating insurance group. This transition is the result of intensive efforts by the Centrale Bank van Curaçao en Sint Maarten (CBCS), supported by the governments of Curaçao and Sint Maarten, to safeguard policyholders and creditors.
OX & WOLF legal partners has been closely involved in this process as legal advisor to the CBCS, providing guidance on the complex legal framework necessary for this transition. Our focus has been on structuring the legal separation between the new and old ENNIA entities, ensuring regulatory compliance, and facilitating a smooth transition for all stakeholders.
Strategic Legal Support for a Complex Restructuring
ENNIA (new) now operates as a licensed and solvent insurance group, consisting of four regulated entities. Meanwhile, the former ENNIA entities remain under emergency regulation, with legal and financial matters still being managed by the CBCS. OX & WOLF has advised on the legal and regulatory framework governing this division, ensuring that the restructuring was conducted in accordance with financial supervision laws and judicial rulings.
Our team, led by partners Sabine Altena and Karina Keizer, with key contributions from Mayesi Hammoud, Carine Jänsch, and Michiel van den Brink, has been dedicated to advising on this transition. We have supported the CBCS in key areas such as:
- Structuring the legal framework for the transition
- Advising on regulatory approvals and licensing requirements
- Transfer of ENNIA employees from the former ENNIA to the new ENNIA, including the termination of employees who were unable or chose not to transition.
- Managing the legal aspects of the split between the new and old ENNIA entities
- Supporting CBCS in legal proceedings related to the former ENNIA structure
Continued Legal Guidance Moving Forward
While this transition marks significant progress, critical legal work remains. The former ENNIA structure will continue under emergency regulation, and OX & WOLF will continue advising the CBCS in managing outstanding claims, legal disputes, and regulatory compliance matters.
We are grateful for the trust placed in us and remain committed to providing strategic legal support as this process moves forward.
For more information please click here for the press release.









