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Aruba Financial Authority Issues List of Supervised Entities

ORANJESTAD, ARUBA - The Aruba Financial Authority (CBA) has released a list of supervised entities in the financial sector, including money transaction companies, trust service providers, insurance brokers, credit institutions, and securities brokers.

Money Transaction Companies

The CBA has granted exemption to six money transaction companies under article 10 of the State Ordinance on the Supervision of Money Transaction Companies (AB 2003 No. 60). The companies are:

  • Mack’s Exchange Services VBA
  • Union Caribe N.V.
  • Kalpa Exchange Services VBA
  • MoneyGram International Inc.
  • Western Union Financial Services International, Inc.

Trust Service Providers

The CBA has granted a license to eleven trust service providers under article 2 of the State Ordinance on the Supervision of Trust Service Providers (AB 2009 No. 13). The companies are:

  • AMTR N.V.
  • Arulex Trust Services N.V.
  • C.T.F. (Aruba) N.V.
  • Euro Trust International N.V.
  • IMC International Management & Trust Company N.V.
  • Intima Management N.V.
  • Standard Trust Company N.V.
  • United Trust Management (Aruba) UTM N.V.
  • Vistra (Aruba) N.V.

Insurance Brokers

The CBA has granted a license to thirty-five insurance brokers under article 2 of the State Decree on the Supervision of Insurance Brokers (AB 2014 No. 6). The companies are:

  • Aresta Aruba N.V.
  • Assurantie Service Centrum Aruba A.S.C.A. N.V.
  • Boogaard Assurantiën N.V.
  • De L’Isle & Sons Insurance Brokers N.V.
  • EFS Equidad Financial Services N.V.
  • Framo Insurances N.V.
  • Jai Mahalaxmi Enterprises N.V.
  • Lyder Insurance Consultants N.V.
  • Navigator Insurance Consultants Aruba N.V.
  • Seguros Geerman N.V.
  • TIB Tromp Insurance Broker VBA
  • Turtle Island Insurance Broker N.V.
  • Verdant Insurance and Management Company Group N.V.
  • WeThink Solutions Consultancy V.B.A.
  • Worldwide Insurance Agency N.V.

Credit Institutions

In addition, three credit institutions have registered with the CBA under article 2, paragraph 3, of the State Decree on the Supervision of Insurance Brokers (AB 2014 No. 6). The companies are:

  • Aruba Bank N.V.
  • Banco di Caribe (Aruba) N.V.
  • Caribbean Mercantile Bank N.V.

Insurance Agents

Seven individuals have been granted a dispensation by the CBA to operate as insurance agents for various insurance companies, including Fatum Life Aruba N.V., Fatum General Insurance Aruba N.V., Pan-American Life Insurance Company of Aruba V.B.A, and Sagicor Life Aruba N.V.

Securities Brokers

Three credit institutions have registered with the CBA under article 10, paragraph 2, of the State Ordinance on the Supervision of the Securities Business (AB 2016 No. 53). The companies are:

  • Aruba Bank N.V.
  • Banco di Caribe (Aruba) N.V.
  • Caribbean Mercantile Bank N.V.

The list of supervised entities is available on the CBA’s website and can be accessed by clicking on the “Supervised Entities” tab.