We continue our financial growth journey, being the first ever marine underwriter in Cyprus licensed under the Solvency-II regime
Solvency & Financial Condition Report 2020
The Solvency-II Capital Requirement establishes the amount of capital to be held by an insurance entity in the EU to provide enhanced protection for clients and to ensure to an overwhelming probability that an insurer can continue to meet ongoing obligations to policy holders and beneficiaries.
American Hellenic successfully complied with the capital requirements and has passed all additional Solvency II financial and operational stress tests.
All individual employees share the responsibility of compliance with applicable laws, regulations and business standards. To this effect, senior management ensures that staff in each department are fully aware of the regulations, standards and best practices required of them, as well as the compliance risks involved.