THE AMERICAN CLUB HOSTS EXCLUSIVE GATHERING AT THE PIRAEUS
MARINE CLUB FOR ITS 2015 GREEK MARKET PRESENTATION
The American Club hosted almost 300 guests at the Piraeus Marine Club on
Tuesday, December 8 th , requiring exclusive reservation of all three floors of the
Marine Club to accommodate all who came to hear the latest news and
developments of the Club at the traditional December pre-Christmas gathering.
The American Club arranged live video feed to other floors to ensure all in
attendance would be able to follow the presentation which included an update
with intimate details on the structure and status of its recent investment in the
American Hellenic Hull Insurance Company, Ltd., (Cyprus), in addition to the
traditional year in review of the IG Club’s P&I business.
Joe Hughes, Chairman and CEO of SCB, Inc., Managers of the American P&I
Club led the audience through the latest vital statistics of the Club as well as
Eagle Ocean Marine, the fixed P&I facility of the American Club, managed by
Eagle Ocean Agencies, which is part of the management group. Hughes
highlighted the Club’s good historical investment performance as well as the
strong dollar per ton on reserves as compared with other IG Clubs. Vince
Solarino, President and COO of SCB, Inc., took the audience beyond statistics
and spoke about the connection of the Club to the Greek shipping market.
Solarino explained that this prompted the Club to embark on and achieve a
difficult task of saving the legacy of the Hellenic Hull Mutual through the know-
how of its Managers, Hellenic Hull Management headed by Ilias Tsakiris, while
creating a new commercial underwriting company through an investment
mechanism which would transfer the good will and ensure continuity of
Cypriot/Greek underwriting capacity. Solarino went on to state, “American
Hellenic is not a start-up company...it will carry on an established book of
business with an established management team. It is a successor company.”
Ilias Tsakiris, Managing Director of Hellenic Hull Management then presented the
underwriting philosophy of the American Hellenic to the market while explaining
in further detail, the synergy between the Hellenic Hull Mutual which will
eventually run off, and the new independent American Hellenic which will carry
on the local underwriting capacity on a global platform.
The presentation was concluded by Dorothea Ioannou, Managing Director of the
Managers’ Piraeus Liaison Office and Global Business Development Director for
the Managers. Ioannou spoke about the Club’s business development model
taken from the model’s success in the region of Europe Africa and the Middle
East (EMEA) with its greatest constituency in Greece, and gave an update on thestatus of the Piraeus office, providing the backgrounds on the qualifications,
experience and capabilities of its executives which service the region and pointed
out the 100 years of combined experience the team currently takes pride in.
Guests were then treated to holiday cocktails and a buffet lunch immediately
following the presentations which lasted well into the late afternoon.
Office Piraeus team