American P&I Club set to celebrate centenary
JANUARY 3, 2017 — Founded in New York nearly a century ago the American P&I Club has just published a book entitled “The American Club: A Centennial History.” Written by former Wall
JANUARY 3, 2017 — Founded in New York nearly a century ago the American P&I Club has just published a book entitled “The American Club: A Centennial History.” Written by former Wall
JUNE 24, 2016—On the cusp of celebrating its centennial in 2017, P&I insurer The American Club continues to prosper, reporting positive results for 2015 despite a challenging market at its annual meeting
MAY 27, 2016—Leading P&I organization The American Club has won the Lloyd’s List North American Maritime Services Award for 2016. The presentation of the award took place in New York at the end of
MAY 27, 2016 — The London P&I Club says it continues to see cases of injuries and fatalities associated with entry into enclosed onboard spaces, including cargo holds on bulk carriers where
MAY 11, 2015 — The UK P&I Club reported financial results for the year ended February 20, 2016 that saw its free reserves remain stable at $547 million and its capital position
MARCH 16, 2015 — A report from the Swedish Club shows that the hazards and job issues that seafarers face very much depend on the type of vessel they serve on. In
The American Club says the investment will allow further expansion into the global hull & machinery segment, enabling it to offer high quality insurance services and innovative customer solutions.
American Hellenic will be a Cyprus-based and licensed, Solvency II compliant, wholly-owned American Club subsidiary. It will be managed from Piraeus, Cyprus and New York, utilizing the expertise of long-standing professionals in the marine insurance market and will be serviced through specialists in offices located in seven global shipping hubs with the ability to provide local market know-how and service to its customers, and to communicate in eleven languages.
The American Club will now be able to continue offering first class marine protection and indemnity cover while also, through American Hellenic, offering an expanded product line of marine insurance including hull & machinery, war risk, and mortgagee interest insurance.
The American Club’s Board voted unanimously for the initiative, which Chairman of the Board, Arnold Witte, called “an historic moment in the club’s long history.”
He noted that it was “sparked by the idea of Board member Angelos Kostakos” and was a unique opportunity to prudently expand the club’s market footprint.”
“American Hellenic is an investment in the American Club’s future and is yet a further step in expanding and diversifying the club’s product line,” said Vincent Solarino, President and COO of Shipowners Claims Bureau, Inc., managers of the American Club. “It is part of the club’s overarching plan to significantly increase its revenue across a growing range of product lines, its tonnage across all lines, andexpand its market presence, while increasing its S&P rating.”
Joe Hughes, Chairman and CEO of the American Club’s Managers, said: “This is one of the most significant developments in the American Club’s recent history. The transaction proceeded with the close and active cooperation of the Board of Directors of the American Club. I am certain that American Hellenic will prove to be a powerful force of growing energy within the international marine insurance industry.”
JULY 20, 2015 — A leading P&I insurer is warning that concerns continue to be raised by the increasing demands for ships to use low sulfur fuels. “There are increasing demands on
JUNE 18, 2015 — Ships’ officers and crews need to be more aware of the testing requirements for voyage data recorders, says the London P&I Club after investigation by its loss prevention
OCTOBER 24, 2014 — Failure to preserve Voyage Data Recorder (VDR) data in the event of an incident can compromise the owner’s position in the event of a claim, says the London