Most insurance companies lax in publishing annual accounts

Most insurance companies lax  in publishing annual accounts

WILLEMSTAD--Only a minority of the 21 insurance companies that are active in Curaçao and in St. Maarten, which are required to publish their annual accounts, have so far made their 2020 annual figures public, it was stated by the Central Bank of Curaçao and St. Maarten (CBCS).

  Insurers must disclose their financial results to the public within six months after the end of the financial year. This is usually done by means of publications in newspapers and on the Internet.

  However, seven months into the year, only a handful of insurers have published their results, newspaper Antilliaans Dagblad reported.

  According to CBCS, only seven insurance companies have published their 2020 profit-and-loss statements and balance sheets until recently. Inter-Assure, Aska, Guardian Group Fatum, Vidanova and Sagicor are among those that have published their reports.

  CBCS has indicated that six insurers have requested a postponement and have received it. The other eight insurers have not requested a postponement of publication of their “consolidated financial highlights”.

  CBCS stated that the latest guidelines concerning the publication of annual reports are not new and date back to January 2010.