American Hellenic Hull reports more than 2,000 vessels insured to date

American Hellenic Hull reports more than 2,000 vessels insured to date
After 15 months of successful operations and faster than expected growth, American Hellenic Hull Insurance Board of Directors analyzed the company’s standing.

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September was the best month so far for American Hellenic Hull Insurance. After 15 months of successful operations and faster than expected growth, American Hellenic Hull Insurance Board of Directors analyzed the company’s standing during its 11th October meeting in the Four Seasons Hotel, Limassol Cyprus, under the chairmanship of Vincent Solarino. The Board also focused on future business challenges and the pending rating of the company by AM Best.

AHHIC’s managers reported that the company now has more than 2,000 vessels insured, a fleet that stands 33% above projections, and that premium income has increased by 39% over the past four months. The loss ratio currently stands at 56.17%.

The managers informed the Board of Directors that the company, for the first time, will be able to submit its third-quarter results to the Superintendent of Insurance fully via the Asseco SII Engine. All necessary technical tests were successfully completed by the actuarial, IT, and accounting teams during the summer.

September was the best month in the company’s young history in terms of insurance profitability. Buoyed by these encouraging figures, American Hellenic Hull Insurance Company now begins its scheduled annual roadshow in the Far East.

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CEO Ilias Tsakiris was recognized in The Investor Greece 2019 for his leadership in business and social responsibility. Throughout the year, Hellenic Hull made an impact at key industry events like the Capital Link Cyprus Forum, Insurance Conference, Delphi Economic Forum, and Maritime Cyprus 2019, advancing discussions on marine insurance and sustainability. The association also strengthened stakeholder engagement through presentations in Piraeus, London, and at P&I conferences. A standout moment was Tsakiris’ presentation at the World Maritime University, affirming Hellenic Hull’s dedication to training and education.

By 2001, the tides had shifted in favor of Hellenic Hull Mutual. At its 7th AGM, Hellenic Hull reported an impressive leap in its portfolio. The number of insured vessels had nearly doubled to 222, with a combined entered value exceeding $350 million.

HMA’s Chair Mr. Dounis shared an ambitious vision: the establishment of a marine campus in Greece, dedicated to promoting marine protection and ocean sustainability.

In April, Hellenic Hull made a notable contribution to the Merchant Marine Academy in Hydra, donating a GPS electronic device to enhance the students’ educational experience.

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