st maarten news

‘Hard talks’ needed according to Central BankJuly 19, 2021

‘Hard talks’ needed according to Central Bank
July 19, 2021
Of the 21 insurance institutions that require publication, active in Curaçao and Sint Maarten, only a minority have so far made the annual figures for 2020 public. That was stated by the Central Bank of Curaçao and St. Maarten (CBCS).

Insurers must disclose financial results to the public within six months of the end of the financial year. This is usually done by means of publications in newspapers and on the websites of the relevant institutions. It is striking that so far only a handful of insurers have published their results.

According to CBCS, until recently, only seven insurance companies had published their 2020 profit and loss statement and balance sheet as of December 31. So one in three. CBCS has indicated that six insurers have asked for a postponement and have received this. But the other eight have not even asked for a postponement of publication.

CBCS indicates that the guidelines are not new, so it should come as no surprise, because the last version of the website of the Central Bank dates from January 2010.

Categories: st maarten news

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