2001

Weathering the Storm

By 2001, the tides had shifted in favor of Hellenic Hull Mutual. At the 7th AGM in May, 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 and a gross tonnage surpassing 1.3 million GT.

2002

A New Era of Leadership and Growth

The year 2002 marked a turning point for Hellenic Hull as a new era of leadership took shape

The 8th Annual General Meeting

Grown to insure

532 vessels

Gross premium income skyrocketed by 980%.

Renovation of company’s premises

...and our new add!

2004

The year 2004 was a defining moment, for Greece, which hosted the Athens Olympics

A Year of Glory for Greece

...and for the Hellenic Hull

Celebrating our 10-year anniversary!

2005

Strength is our guiding light

Hellenic Hull continued to build on its successes in 2005, becoming a member of the prestigious Piraeus Marine Club—a significant acknowledgment of its growing influence in the shipping community.

A key moment

Ilias Tsakiris is appointed as the Board Director & CEO of Hellenic Hull Management (HMA) Ltd, a move that further solidified his leadership role.

2006 - 2007

Charting the Future

Hellenic Hull’s leadership and careful management ensured that it remained a trusted partner for shipowners. With a strong foundation in place, the association was ready to tackle the challenges of the future, confident in its ability to protect its members and foster mutual support and growth.

2008

A Test of Courage and Resilience
amid the Global Financial Crisis

Hellenic Hull faced an even greater test—one that would challenge its leadership on a global stage

Piracy in MV ‘ACTION’

In October 2008, the chemical tanker MV ACTION, carrying a crew of 20, was hijacked by Somali pirates in the treacherous waters of the Gulf of Aden. This event sent shockwaves through the maritime community. 

Leading Negotiations

2009

Weathering the storms for 15 straight years

2010 - 2011

New Decade, new Board of Directors

Over 7000
vessels insured

A tech-driven company;
embracing Innovation

Ilias Tsakiris was named a Board Member of Piraeus Marine Club

Partnering with Diastasys, co-creating specialised marine insurance application

2012 - 2013

Ahead of challenges

Safeguarding Hellenic Hull’s future

The Cyprus Financial Crisis and Extraordinary Member Support

2014

A New Crisis and Determination to Thrive

Social Responsibility

Following a devastating earthquake struck Kefalonia HMA offered free insurance coverage for the vessel ELEFTHERIOS VENIZELOS, which provided shelter to displaced residents.

2015

Going Global

The second decade of operations is welcomed with a new joint venture between the Hellenic Hull Management and the American P&I Club

2001

Weathering the Storm

By 2001, the tides had shifted in favor of Hellenic Hull Mutual. At the 7th AGM in May, 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 and a gross tonnage surpassing 1.3 million GT.

2002

A New Era of Leadership and Growth

The year 2002 marked a turning point for Hellenic Hull as a new era of leadership took shape

The 8th Annual General Meeting

Grown to insure

532 vessels

Gross premium income skyrocketed by 980%.

Renovation of company’s premises

...and our new add!

2004

The year 2004 was a defining moment, for Greece, which hosted the Athens Olympics

A Year of Glory for Greece

...and for the Hellenic Hull

Celebrating our 10-year anniversary!

2005

Strength is our guiding light

Hellenic Hull continued to build on its successes in 2005, becoming a member of the prestigious Piraeus Marine Club—a significant acknowledgment of its growing influence in the shipping community.

A key moment

Ilias Tsakiris is appointed as the Board Director & CEO of Hellenic Hull Management (HMA) Ltd, a move that further solidified his leadership role.

2006 - 2007

Charting the Future

Hellenic Hull’s leadership and careful management ensured that it remained a trusted partner for shipowners. With a strong foundation in place, the association was ready to tackle the challenges of the future, confident in its ability to protect its members and foster mutual support and growth.

2008

A Test of Courage and Resilience
amid the Global Financial Crisis

Hellenic Hull faced an even greater test—one that would challenge its leadership on a global stage

Piracy in MV ‘ACTION’

In October 2008, the chemical tanker MV ACTION, carrying a crew of 20, was hijacked by Somali pirates in the treacherous waters of the Gulf of Aden. This event sent shockwaves through the maritime community. 

Leading Negotiations

2009

Weathering the storms for 15 straight years

2010 - 2011

New Decade, new Board of Directors

Over 7000
vessels insured

Ilias Tsakiris was named a Board Member of Piraeus Marine Club

A tech-driven company;
embracing Innovation

Partnering with Diastasys, co-creating specialised marine insurance application

2012 - 2013

Ahead of challenges

The Cyprus Financial Crisis and Extraordinary Member Support

Safeguarding Hellenic Hull’s future

2014

A New Crisis and Determination to Thrive

Social Responsibility

Following a devastating earthquake struck Kefalonia HMA offered free insurance coverage for the vessel ELEFTHERIOS VENIZELOS, which provided shelter to displaced residents.

2015

Going Global

The second decade of operations is welcomed with a new joint venture between the Hellenic Hull Management and the American P&I Club

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98%

client renewal ratio

Τhe association maintained a stellar 98% client renewal ratio, a clear testament to the trust and satisfaction of its members. With a net loss ratio of just 52%, Hellenic Hull demonstrated its ability to manage risks while delivering robust coverage to its growing client base.

A decade of achievements

The company had grown from a fledgling start-up to a powerhouse, with gross written premiums totaling $80 million and $51 million in claims paid. Over 6,885 quotations had been issued, leading to 3,245 vessel entries. The association’s network had expanded significantly, working with 136 brokers and 62 mortgagees, and its contributions to the industry were underscored by 142 publications.

The year 2008 was a defining chapter for Hellenic Hull. As the global financial crisis wreaked havoc on industries worldwide, Hellenic Hull demonstrated extraordinary resilience.

Leading Negotiations

With the vessel under Panamanian flag and the crew’s safety at risk, Hellenic Hull’s CEO, Ilias Tsakiris, stepped up to the challenge. Leading negotiations with calm determination, he worked tirelessly for 10 long weeks, ultimately securing the release of the vessel and its crew without further harm.

New Board of Directors

The Board of Directors, Mr. Antonios V. Agapitos (Chairman, Hellenic Seaways Maritime S.A.), Mr. John A. Xylas (Vice-Chairman, Ariston Navigation/Melissa Cement Transport Shipping), Mrs. Hariklia N. Moundareas, Mr. George Sp. Alexandratos, Mr. Nikolas T. Veniamis, and Mr. Alkimos C.G. Gratsos, guided Hellenic Hull through this era of growth.

Always ahead of the curve

As part of its commitment to innovation and transparency, Hellenic Hull entered a strategic partnership with Diastasys in January 2010. Together, they implemented NavIns, a Microsoft-based application designed to enhance efficiency, transparency, and flexibility in underwriting, claims management, and reporting.

The collapse of Laiki and the Cyprus financial crisis

In 2013, the Cyprus financial crisis posed a significant challenge for Hellenic Hull. The collapse of Laiki Bank, one of Cyprus’ major financial institutions, sent shockwaves through the country’s economy. As a key financial and maritime cluster, Cyprus was deeply affected, and many companies were left struggling to survive. Despite being headquartered in Cyprus, Hellenic Hull stood firm through the turmoil. Thanks to its strong financial foundations and strategic planning, the association remained operational, even as others faltered.

A remarkable display of unity

With the collapse of Laiki Bank and mounting financial pressures, it became clear that action was needed to safeguard Hellenic Hull’s future. An extraordinary meeting was called in Piraeus, where shipowner members gathered to discuss the next steps following the crisis. 97% of members voted in favor of a new business plan to rescue the club. This overwhelming support reflected the deep trust and loyalty Hellenic Hull had fostered within the maritime community.

A New Crisis and Determination to Thrive

"We Sail, or Fail"

In 2014, Hellenic Hull faced a new cash crisis, compounded by looming solvency requirements that were about to be imposed on the industry. Despite the financial turbulence, the company responded swiftly and decisively. Recognising the urgency of the situation, Hellenic Hull shared with its members the need for additional funds to cover the deficits and ensure compliance with upcoming regulations. These supplementary calls were not a sign of failure but a reflection of the company’s determination to restore its financial strength and re-establish stability. Once again, the strong commitment of Hellenic Hull’s members shone through. This moment wasn’t just about surviving—it was about rebuilding stronger.

making waves

in the industry:

Events of 2016

Throughout 2016, the company demonstrated its strengths at prominent industry events. In September, AHHIC made a notable appearance at the 18th Hydra Meeting, followed by participation in the Hall of Fame 2016, and continued with market presentations in both Piraeus and London.

Going Global

In June 2015, a discussion began that would transform the marine insurance landscape. Hellenic Hull partnered with the American P&I Club to create a joint venture that would blend the best of both organizations. By October, this ambitious plan became reality, and American Hellenic Hull Insurance Company (AHHIC) was born, with the aim to insure 2,000 ships by the end of 2016. The Hellenic Hull team, armed with their deep expertise and passion, took the lead in managing this new venture, which promised to be a game-changer in the industry.

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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