Supervision of insurers in the Caribbean Netherlands
De Nederlandsche Bank (DNB) supervises insurers in the Caribbean Netherlands. The Financial Markets (BES) Act (Wet financiële markten BES – Wfm BES) specifies the activities for which a licence or notification is required, the procedure to be followed and the requirements to be met. The information below explains when and how an insurer is granted market access.
The following themes are important for our supervision of the sector, on which relevant, current publications can be found at the bottom of this page.
Themes
- Applying for a licence
- Fit and proper assessments
- Integrity supervision
- Enforcement
- News and publications
- Register
Information about specific subjects
Are you operating as an insurer in the Caribbean Netherlands or are you planning to do so? On the Market access page, you can find more information and application forms.
If you cannot find the requested information or if you have any other questions, feel free to contact us (in Dutch or English). Just call us at +31 20 524 9111 on business days between 9:00 and 17:00 (Dutch time). Or drop us a line at info@dnb.nl.
Integrity supervision
The same integrity provisions do not apply to every insurer. Below you can read which insurers must comply with which integrity provisions.
Life insurers
All life insurers operating through a registered office (or branch office) in the Caribbean Netherlands must comply with the integrity provisions:
- on ethical operational management under The Wfm BES (Dutch),
- of the Anti-Money Laundering and Anti-Terrorist Financing (BES) Act (Wwft BES)
- Sanctions Act
Life insurers operating in the Caribbean Netherlands by providing cross-border services from their establishments in Curaçao and/or Sint Maarten must comply with the integrity provisions:
More information on sound and ethical operational management required under the Wfm BES, the Wwft BES and the Sanctions Act can be found here.
Non-life and in-kind funeral services insurers
All non-life and in-kind funeral services insurers operating through an establishment (branch office) in the Caribbean Netherlands must comply with the integrity provisions:
- on ethical operational management under the Wwft BES
- Sanctions Act
All non-life and in-kind funeral services insurers operating in the Caribbean Netherlands by providing cross-border services from their establishments in Curaçao and/or Sint Maarten must comply with the integrity provisions:
Register
The register includes the licences we have granted under the Wfm BES. In general, financial institutions must have a licence from DNB to conduct activities in the Caribbean Netherlands.
Insurers having their registered office outside the Caribbean Netherlands, i.e. in Curaçao and Sint Maarten, may under specific circumstances, after notifying DNB, provide services in the Caribbean Netherlands. These notified insurers are also included in the register.
The register was prepared pursuant to Sections 2:19 and 2:20 of the Wfm BES and Sections 2:12 to 2:14 of the Financial Markets (BES) Decree (Besluit financiële markten BES – Bfm BES).