Published On: Fri, Jul 24th, 2020

Central Bank appoints Brodie as ENNIA’s CEO

Lesley-Ann Brodie - photo Facebook

WILLEMSTAD – The Central Bank of Curacao and St. Maarten will install a new management team at insurance company ENNIA next week with Lesley-Ann Brodie as its Chief Executive Officer.

Brodie spent more than ten years of her career at PriceWaterhouseCoopers as an auditor before she came to ENNIA in May 2010 as its senior manager internal audit. In October 2018 she became ENNIA’s Chief Financial Officer and Chief Operations Officer.

In July 2018 an emergency measure was issued against the insurance company at the request of the Central Bank. The measure put ENNIA’s management under control of the bank; its objective was to restructure the company and to restore its embattled solvency.

The Bank managed to retrieve millions of dollars from American bank accounts and put them under Ennia’s control again. The funds had been taken away from the company by Hushang Ansary, chairman of the Parman Group that controlled ENNIA.

“Preparatory steps are being taken towards a more transparent and less risky structure for the ENNIA group of companies,” the Central Bank writes in a press release. “Its relevant components are now more loosely connected and the insurer’s actual capital position and risk profile can now be clearly assessed.”

Efforts will continue towards a step-by-step adjustment of the corporate structure and a gradual lifting of the emergency measure, The Bank states in its press release.

In October 2019 The Bank initiated legal procedures against Ansary and others who are held responsible for “the serious problems that have arisen at ENNIA.”

An in-depth investigation revealed that these problems were in part caused by “large-scale unlawful withdrawals of funds that should have remained available to policyholders.”

The objective of the lawsuit against Ansary, who turned 94 in January, and others is to secure compensation for these withdrawals as much as possible.

The Central Bank reckons with the possibility that Ansary may use tactics to delay the court proceedings; it expects however that these proceedings will not stand in the way of ENNIA’s restructuring.

Ansary and other defendants have already been summoned to appear in court.

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Related links:
Press release with update restructuring ENNIA
https://stmaartennews.com/?s=ENNIA

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