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Alt Text Logo of Lloyd’s List naming Top 10 in marine insurance 2020

Lloyd’s List: Ilias Tsakiris among the Top 10 in Marine Insurance 2020

December 11, 2020/in Frontpage Article, Images, Interview, Media Presence, News, News Feed, Publication /by Marketing

American Hellenic Hull CEO Ilias Tsakiris has been named among the Top 10 in Marine Insurance 2020 by Lloyd’s List, the internationally reputed information provider for shipping since 1734.

Mr. Tsakiris was included for the first time in the publication’s annual Top 10 in Marine Insurance 2020, published as part of its eagerly-awaited ‘One Hundred People 2020 Edition’, a list of the most influential people in shipping.

According to Lloyd’s List, The Top 10 in marine insurance list is collated by Lloyd’s List editorial team and considers a mixture of traditional power-brokers in an insular niche, as well as those doing noteworthy things within it.”

His entry notes that Mr. Tsakiris is “at the head of a dynamic new entrant in the sector, and he is shaking things up.”

Since its inception in 2016, AHHIC has invested in innovation, becoming the fastest growing marine hull and machinery insurance company globally.

During 2020, AHHIC exceeded all projections and reached the milestone of 3,000 insured vessels in its hull portfolio.

Recent pioneering steps made by Mr. Tsakiris include a partnership with World Maritime University to launch a postgraduate diploma in marine insurance. A firm believer in sustainability, he has also led AHHIC to become the first marine insurer to sign up to the United Nations Environment Programme Finance Initiative Principles for Sustainable Insurance. The company has similarly become the first in its sector to sign the UNEPFI Sustainable Blue Economy Finance Principles. AHHIC was the only dedicated marine insurance company that participated in the development of UNEPFI’s first global guide to managing environmental, social, and governance (ESG) risks in non-life insurance sectors.

“This comes as welcome recognition of all the effort that has been invested in establishing American Hellenic Hull as a reputable force in the market in such a short space of time,” Mr. Tsakiris commented.

“Being listed among the Top 10 in Marine Insurance 2020 professionals internationally by Lloyd’s List, a historic information provider synonymous with the shipping and insurance industries, is a great encouragement for all of us in AHHIC. We look to build on our success to date and further invest in our strategy of being a leader in sustainable marine insurance,” he added.

 

https://hma.com.cy/wp-content/uploads/2020/12/LLMagazineLogo.jpg 430 790 Marketing https://hma.com.cy/wp-content/uploads/2016/10/logo-1-300x108.png Marketing2020-12-11 16:29:022021-01-19 15:12:04Lloyd’s List: Ilias Tsakiris among the Top 10 in Marine Insurance 2020

Providing the climate for marine cover

September 27, 2017/in Interview, Media Presence, News, News Feed, Uncategorized /by Marketing

High-flying new marine insurer American Hellenic Hull picks Cyprus as a base

by Nigel Lowry

This year, the American P&I Club celebrated its centenary. But it is one of the mutual’s freshest initiatives that has added a new dimension to Cyprus’ maritime services cluster.

In 2015, the club branched into hull and machinery underwriting for the first time, launching American Hellenic Hull Insurance in conjunction with Hellenic Hull Management.

Until last year, this group was focused on managing the Hellenic Hull Mutual Association, which insured about one quarter of all Greek-owned fleets.

The new hull insurer is a wholly owned subsidiary of the American Club and based in Cyprus. Receiving its operating licence last year, it became the first marine hull insurer in Cyprus — and in the wider region — to comply with the European Union’s stringent Solvency II directive.

By mid-2017, American Hellenic Hull had already soared beyond most of its key targets for the first year of operations, with premium income of more than $10m and a fleet of 1,900 insured vessels.

For the opening chapter in its existence, AHHIC has been insuring 10% lines and following traditional underwriters. On a 100% basis, the tonnage currently covered amounts to 35m gt.

But it has sought its own rating from specialist ratings agency AM Best and thereafter it expects to start leading business itself.

The company has set itself an ambitious “indicative” goal of insuring 4,000 vessels by 2020. About half the current insured fleet is owned by Greek and Cypriot owners.

AHHIC is doing business across the globe and has offices sprinkled across main European, Asian and American markets.

But the Limassol office is the company’s headquarters. It is staffed by 20 highly trained executives from Cyprus and Greece, who are responsible for delivering customer service across the company’s international network.

AHHIC chief executive Ilias Tsakiris sees great potential for Cyprus to become a leading marine insurance hub.

“The shareholders and the board of directors evaluated Cyprus as the best destination for the company’s operations,” he tells Lloyd’s List.

Its credentials include practical company legislation that eases the path for international companies to transfer their business headquarters to the island.

It also offers a growing home-based maritime community, a high level of marine insurance expertise and an educated workforce.

“It is an inviting climate in all senses,” says Mr. Tsakiris. “But, at the same time, the review process for us to gain approval was a very thorough one. It took the time necessary to evaluate such a big project, including subjecting it to many financial stress tests.

“The approval procedure favourably demonstrated Cyprus’ seriousness as a marine insurance sector,” he says.

“We are convinced that many insurance entities present in the UK will look hard at Cyprus as an option for mitigating the fallout from Brexit.”

Its horizons are global, but American Hellenic Hull is already a well-integrated member of the island’s maritime community.

Indicative of that, the company is a Gold Sponsor of this year’s Maritime Cyprus conference, as well as sponsoring the event’s opening reception.

Read Lloyd’s List article here

https://hma.com.cy/wp-content/uploads/2017/09/Ilias-Tsakiris-square.jpg 3499 3500 Marketing https://hma.com.cy/wp-content/uploads/2016/10/logo-1-300x108.png Marketing2017-09-27 15:28:052017-09-28 19:56:25Providing the climate for marine cover

Lloyd’s list reports on American Hellenic Hull’s growth progress

April 20, 2017/in Interview, Media Presence, News, Publication /by Marketing

American Hellenic Hull Insurance, the new American P&I Club-backed marine hull insurer established last year in Cyprus, has set itself an ambitious growth target over the next three to four years. The article on Lloyd’s List (find the article here) reported what the Chief Executive, Ilias Tsakiris told at a shipping and insurance gathering in Limassol “the company has a target of insuring 4,000 vessels by 2020.”

Just nine months after it received its operating license, American Hellenic Hull is already covering a fleet of more than 1,500 ships from 10 different countries across three continents. The portfolio included all types of vessels, but foremost were bulk carriers and tankers, said Mr. Tsakiris.

 

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