E N N I A I N F O R M AT I O N

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ENNIA FINANCIAL HIGHLIGHTS 2013

To the Stockholders and Board of Directors of ENNIA Caribe Leven N.V., ENNIA Caribe
Schade N.V., ENNIA Caribe Zorg N.V.

INDEPENDENT AUDITORS REPORT

The accompanying financial highlights, which comprise the balance sheet as at December 31,
2013, the profit and loss statement for the year then ended, and related notes, are derived
from the audited Life Insurance and General Insurance Annual Statements (statements)
of ENNIA Caribe Leven N.V., ENNIA Caribe Schade N.V. and ENNIA Caribe Zorg N.V. (the
Companies) for the year ended December 31, 2013. We expressed unmodified audit
opinions on these statements in our reports dated June 20, 2014. Those statements, and
the financial highlights, do not reflect the effects of events that occurred subsequent to
the date of our reports on those statements. The financial highlights do not contain all the
disclosures required by International Financial Reporting Standards. Reading the financial
highlights, therefore, is not a substitute for reading the audited statements of the Companies.
Managements Responsibility for the financial highlights
Management is responsible for the preparation of the financial highlights derived from the
audited statements in accordance with the Provisions for the Disclosure of Consolidated
Financial Highlights of Insurance Companies issued by the Centrale Bank van Curaao en
St. Maarten (CBCS).
Auditors Responsibility
Our responsibility is to express an opinion on the financial highlights based on our procedures, which were conducted in accordance with International Standard on Auditing
(ISA) 810, Engagements to Report on Summary Financial Statements.
Opinion
In our opinion, the financial highlights derived from the audited statements of the Group
for the year ended December 31, 2013 are consistent, in all material respects, with those
statements, in accordance with the Provisions for the Disclosure of Consolidated Financial Highlights of Insurance Companies, issued by the CBCS.
Curaao, June 20, 2014
KPMG ACCOUNTANTS B.V.
M.L.M. Kesselaer RA

EXPLANATORY NOTES TO THE FINANCIAL HIGHLIGHTS

CARIBE LEVEN N.V.

CARIBE SCHADE N.V.

CARIBE ZORG N.V.

Balance sheet

As of December 31st
All amounts ANG x 1,000

2013 2012

Admissible assets
Intangibles

2013 2012

- -

Investments:
Real estate
Unconsolidated affiliated companies and
other participations
Stocks
Bonds and other fixed income securities
Participation in non-affiliated investment pools
Mortgage loans
Other loans
Deposits with financial institutions
Other investments
Current assets
Other assets
From separate accounts statement
Total

2013 2012

- - - -

35,465
-

35,913
-

28,628
99,802
10,094
236,169
19,304
565,260
95,438
198,516
20,811

1,156
127,957
5,989
184,382
22,908
565,260
166,339
93,257
38,079

1,145
4,192
10,676
12,720
32,751
30,646
-

5,178
10,676
1,305
12,720
37,016
29,695
-

56
1,748
69
25,333
-

56
1,740
4,901
25,732
-

1,309,487

1,241,240

92,130

96,590

27,206

32,429

Equity, provisions and liabilities

2013 2012

Capital and surplus:

2013 2012

2013 2012

30,484
87,587
-

30,484
67,044
-

29,882
11,685
-

29,882
7,393
-

3,000
7,434
-

3,000
6,051
-

1,151,806
-

1,084,263
-

The preparation of the financial highlights requires the Group to make estimates and
assumptions that affect items reported in the balance sheets and profit and loss statements.
Actual results ultimately may differ, possibly significantly, from those estimates.

Net technical provision for life insurances

Net technical provision for accident and
sickness
Net other technical provisions
Other net policy and contract provisions
Net unearned premium provision
Net claim provision
Current liabilities
Other liabilities
Contingent liabilities
From separate accounts statement

12,162
6,637
20,811

12,233
9,137
38,079

13,064
23,876
12,628
982
13
-

12,401
30,766
15,088
1,058
2
-

6,000
7,515
3,257
-

6,088
7,609
9,681
-

Investments

Total

1,309,487

1,241,240

92,130

96,590

27,206

32,429

Throughout these notes, the word Group refers to Ennia Caribe Leven N.V., Ennia Caribe
Schade N.V., Ennia Caribe Zorg N.V., either collectively or separately.

Statement of compliance

The financial highlights of the Group have been prepared in accordance with the Provisions
for the Disclosure of consolidated Financial Highlights of insurance Companies issued by
the Centrale Bank van Curaao en St. Maarten., the provisions of the Landsverordening
Toezicht verzekeringsbedrijf (P.B. 1990,77) and Landsbesluit Financile eisen verzekeringsbedrijf (P.B. 1992,52).

Basis of preparation

Items included in the financial highlights of the Group are stated in Antillean Guilders
(ANG), which is the Groups functional and presentation currency. All amounts in the notes
are shown in thousands of ANG, rounded to the nearest thousand, unless otherwise stated.

Basis of estimates

Stocks, bonds and other fixed income securities

Stocks, bonds and other fixed income securities are classified either at fair value through
profit or loss, available-for-sale financial assets or loans and advances.

Fair value through profit or loss

Financial assets and financial liabilities at fair value through profit or loss are reported at
fair value with changes in fair value recognized in the profit and loss statement.

Available-for-sale (AFS)
Available-for-sale investments are non-derivative investments that are intended to be
held for an indefinite period of time. Available-for-sale investments are initially recognized
at fair value plus transaction cost, with fair value changes recognized directly in equity,
until the investment is derecognized or impaired, whereupon the cumulative gains or
losses previously recognized in equity are recognized in the profit and loss statement for
the period.
Unquoted equity securities whose fair value cannot be reliably measured are carried at
cost less impairment, if applicable. The current value is deemed to approximate fair value.

Mortgage loans, other loans and deposits

Mortgage loans, other loans and deposits are initially measured at fair value plus incremental transaction costs, and are subsequently measured at amortized cost using the
effective interest method, net of an allowance for impairment.

Current assets and Other assets

Cash and cash equivalents

Cash and cash equivalents comprise cash balances on hand and short-term highly liquid
investments with maturities of three months or less when purchased.
Receivables and other financial assets
Receivables and other financial assets are initially measured at fair value plus incremental
transaction costs, and are subsequently measured at amortized cost using the effective
interest method, net of an allowance for impairment.

Provisions for Insurance Obligations

Actuarial basis
Life insurance business provisions are calculated separately for each life operation,
based on local regulatory requirements and actuarial principles consistent with those
applied in the former Netherlands Antilles.
The life insurance provision is calculated according to the principles on which the
premiums have been based, primarily on a prospective basis and the interest as used in
the premium. The provision also includes a provision for future costs of processing benefits,
the provision for unearned premiums and unexpired risks as well as the provision for
claims outstanding, all as far as related to the life insurance business.
Non-actuarial basis
General insurance and health outstanding claims provisions are based on the estimated
ultimate cost of all claims incurred but not settled at year end, whether reported or not.
Significant delays are experienced in the notification and settlement of certain types of
general insurance claims, particularly in respect of liability business for which the ultimate
cost cannot be known with certainty at year-end. Outstanding claim provisions include
claims incurred but not reported (IBNR). For health insurance the other provisions cover
future costs for insured persons with chronic diseases.

Technical Information on Risk Coverage and Reinsurance

The Group has developed its insurance underwriting strategy to diversify the type of
insurance risks accepted and within each of these categories to achieve a sufficiently
large population of risks to reduce the variability of the expected outcome. Factors that
exacerbate insurance risk include lack of risk diversification in terms of type and amount
of risk, geographical location and type of industry covered. The frequency and severity of
claims can be affected by several factors. The most significant are the increasing level
of awards for the damage suffered as a result of exposure to several factors. The Group
only contracts reinsurance protection with reinsurance companies that are rated.

Capital
Surplus
Less treasury stock
Subordinated instruments

Provisions for insurance obligations:

Profit and loss statement

For the year ended December 31st

All amounts ANG x 1,000
Premium and other policy considerations
Net investment income and realized capital gains
and losses
Net other operational income
Net benefits incurred
Change in provisions for insurance obligations
Net operational expenditures incurred
Net other operational expenditures incurred
Net transfers to or from separate accounts
Other changes affecting net results
Profit sharing to policyholders
Net earned premiums
Net other underwriting income
Net claims incurred
Net claim adjustment expenses incurred
Net changes in various other provisions
Policyholders dividends and other similar
benefits incurred
Underwriting expenses incurred
Net other expenses incurred

2013 2012

2013 2012

2013 2012

96,928
58,629

79,083
52,078

55,184
63,069
19,015
4,213
-

47,955
53,098
16,626
3,873
-

56,699
26,889
4,409
-

59,774
31,042
3,706
-

8,834
6,382
313
-

9,509
9,211
112
-

23,737
-

20,640
-

1,712
-

943
-

1,664

4,386

427

-757

3,402

3,032

939

690

-59
14,017

-102
9,507

-872
4,194

-856
-32
6,530

11
1,377

230
163

-2,563
16,580

-438
9,945

4,194

6,530

1,377

163

3,824
20,404
-27
20,377

1,197
11,142
3,598
14,740

4,194
-382
3,812

6,530
-72
6,458

1,377
1,377

163
163

Underwriting results
(Without investment income and realized capital gains or losses)

Net investment income and earned and capital

gains or losses
Other results
Extraordinary results
Net operational results before corporate taxes
and net results from separate accounts
Corporate taxes
Net operational results after corporate taxes
and before net results from separate accounts
Net results from separate accounts
Net operational results
Net unrealized gains or losses
Net profit or loss

Contingent Liabilities

There are no other contingent liabilities, other than those that have been properly recorded
and disclosed in the Annual Statements (ARAS) 2013.

Capital and or Surplus Commitments

Ennia Caribe Holding N.V. is the parent company of the entities Ennia Caribe Leven N.V.,
Ennia Caribe Schade N.V. and Ennia Caribe Zorg N.V.

Analysis of unassigned earnings

LEVEN

2013 2012

SCHADE

ZORG

2013 2012 2013 2012

Unassigned earnings (beginning of year) 57,431 42,691 8,038

Net profit or loss
20,377 14,740 3,812
Distribution of accumulated earnings
-
-
-
Other changes in unassigned earnings
-
-
-
Unassigned earnings (end of year)
77,808 57,431 11,850

1,580 6,122 5,959

6,458 1,377 163
-
-
-
-
8,038 7,499 6,122