American Hellenic Hull maintains a strong upward trajectory

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After a profitable summer period, American Hellenic Hull maintains a strong upward trajectory with a strong underwriting loss ratio of 64.7%.

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American Hellenic Hull remains on its dynamic upward trajectory after a profitable summer period. August was the company’s fifth consecutive month of profitable operations, thanks to the market continuing to firm and the company’s strong underwriting loss ratio of 64.7%.

At the end of August, American Hellenic Hull had an insured fleet of 2,127 vessels – a year-on-year increase of 14% – with an average 7.98% line of cover. The written premium was 13% higher than at the same stage last year. Since the end of 2017, the total assets of American Hellenic Hull have increased by 16%, while current assets are 332% of current liabilities. Long overdue items are at their lowest-ever level at about 1%, while the company’s operating expenses are currently 14.3% below budgeted amounts.

In August, the capital of American Hellenic Hull stood at 116% of the Solvency Capital Requirement (SCR) and 166.6% of the Minimum Capital Requirement (MCR).

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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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