Banco di Caribe sold to United Group Holdings

The Central Bank of Curaçao and Sint Maarten (CBCS) announced on 16 September 2021 that Banco di Caribe will be sold by Ennia Caribe Holding NV (ECH), the parent company of the Ennia group. The buyer, United Group Holdings BV (United) is an established financial services company, operating in Curaçao and six European countries, including financial centers such as Amsterdam, London and Luxemburg, as well as elsewhere. United is from the renowned entrepreneur Gregory Elias which set up this company in 2009. People also know Elias from the charity foundation Fundashon Bon Intenshon.

The sale includes all banking activities on Curaçao, Aruba, Bonaire, and Sint Maarten. The insurance and investment activities of Van der Lubbe Assurantiën NV, Bancarib Real Insurance Curaçao NV and BdC Investments BV are also included in the sale.

Banco di Caribe is a key institution in the Caribbean parts of the Kingdom of the Netherlands. Banco di Caribe’s acquisition by United contributes to the consolidation of the banking landscape in Curaçao. In United, Banco di Caribe will gain a strong shareholder and a committed partner, thereby creating room for growth and to invest in providing optimal financial services on the islands of Curaçao, Aruba, Bonaire, and Sint Maarten.

The sale of Banco di Caribe to United is an important step in the financial recovery of the Ennia Group. The all-cash proceeds will immediately be made available to ENNIA Caribe Leven NV, thereby contributing to a lower risk profile and the optimization of its investment portfolio, all for the benefit of its policyholders. Moreover, the sale will allow the Ennia Group to fully focus on its insurance business.