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Five consecutive months of profitable operations for American Hellenic Hull

September 20, 2018/in Images, Interview, Media Presence, News, News Feed, Press Release, Publication, Uncategorized /by Marketing

American Hellenic, the American Club’s hull insurance subsidiary, 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 end of August, AHHIC had an insured fleet of 2,127 vessels – a year-on-year increase of 14% – with an average 7.98% line of cover. Written premium was 13% higher than at the same stage last year. During the year the company’s total assets 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 company’s capital stood at 116% of the Solvency Capital Requirement (SCR) and 166.6% of the Minimum Capital Requirement (MCR).

Tags: American Hellenic Hull, Hull & Machinery, marine insurance, shipping industry
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https://hma.com.cy/wp-content/uploads/2018/09/shutterstock_336054278.jpg 4000 6000 Marketing https://hma.com.cy/wp-content/uploads/2016/10/logo-1-300x108.png Marketing2018-09-20 15:55:452020-10-16 21:27:36Five consecutive months of profitable operations for American Hellenic Hull
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