The American P&I Club together with affiliate American Hellenic Hull Insurance Company maintained their tradition of holding a major reception for shipping guests on the eve of the opening of the biennial Posidonia shipping event in Greece. 

 

The glittering event was held on Wednesday 30 May at Akrotiri Restaurant & Club in Aghios Cosmas, a coastal suburb of Athens. Attendees during a wonderful evening included many of the leading names of the Greek shipping industry, representatives of major international broking houses and financial institutions, and other prominent guests from the international maritime community. Greece's Minister of Shipping & Island Policy, Panagiotis Kouroumplis, also honored the event with his presence.
Underlining their support for the two organisations, guests included many shipowners from all over the world who are members of the American Club and/or insured with American Hellenic Hull. 

 

 

The hosts voiced their gratitude to the hundreds of guests who attended the reception, especially the many shipowners present. Deputy Chairman of the Club's Board of Directors, Markos Marinakis, welcomed the guests.

 

The Club Manager’s Chairman and Chief Executive, Joe Hughes said: "The American Club and its management deeply appreciate the support of the Greek shipping community, which is reflected in a continuous increase in membership and turnover".

 

As a highlight of his speech acknowledging the huge importance of Greek shipping for the American Club, the Manager’s President and Chief Operating Officer Vincent Solarino entertained the audience with his own rendition of the classic Frank Sinatra song 'My kind of town', changing New York in the lyrics to Athens.

 

American Hellenic Hull Chief Executive Ilias Tsakiris thanked the shipping community for its faithful support of the hull & machinery insurer that has been operating for just two years but already insures a fleet of 2,500 vessels with gross premium of $18.5m.

 

The American P&I Club & Shipowners’ Claims Bureau Inc.
Headquartered in New York, the American Club is the only P&I mutual domiciled in the Americas. Part of the International Group, it offers full cover for Protection and Indemnity, Freight, Demurrage and Defense and Charterers’ Liabilities risks. In recent years, the Club has grown and diversified its services, offering also fixed-premium and H&M insurance options. In addition to New York, the Club's Managers, Shipowners Claims Bureau, Inc., have operations in London, Piraeus, Hong Kong, Shanghai and Houston. The Club's strong presence in Greece reflects the great importance of its local membership. The Club is honoured to serve this dynamic and highly influential sector of world shipping. For more information, visit Club’s website at www.american-club.com

 

American Hellenic Hull Insurance Company Ltd.
American Hellenic Hull is a private marine insurance company, which covers hull and machinery risks. It is 100% owned and financially backed by the American P&I Club and exclusively managed by Hellenic Hull Management. The company is registered in Limassol, Cyprus and has affiliated offices in Piraeus, New York, Houston, London, Shanghai and Hong Kong. Its operations commenced on 1st July 2016. American Hellenic Hull is the first marine insurance company licensed in Cyprus under the requirements of the Solvency II regime. The Solvency II Capital Requirement establishes the amount of capital to be held by an insurance entity in order to ensure that ruin occurs no more often than once in every 200 cases or, alternatively, that the company will still be in a position, with a probability of more than 99.5% to meet its obligations to policy holders and beneficiaries for the following 12 months. American Hellenic has successfully passed additional financial and operational stress tests, ensuring that it has sufficient capital to meet projected obligations for 36 months, thus providing a high level of protection to policy holders. For more information, visit company’s website at www.ahhic.com

 

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