American Hellenic Hull Insurance Company Ltd (AHHIC) can report a positive first quarter of 2020 in growth and operating performance in Marine Hull and Machinery insurance.
A 206% year-on-year increase of underwriting profit margin and a loss ratio of 64% as AHHIC successfully implements its business continuity plan in response to the Covid-19 pandemic.
In early March, American Hellenic Hull Insurance Company activated its business continuity plan in response to the coronavirus pandemic. Since then, all company activities have been conducted off-site, with staff working remotely. AHHIC’s utmost priorities are to protect its employees’ health and well-being, combined with maintaining undisrupted its clients’ interests.
On 31 March 2020, the insured fleet stood at 2,637 vessels, showing a year-on-year increase of 15%. Simultaneously, the company’s gross earned premium for the quarter was increased by 82%.