EVENT
A Lloyd’s briefing and Marine Hull Market discussion
Good security is always shipowner’s priority
Manos Lorentzos (Seascope Hellas S.A.), Maria Kouliga-Pavlou (Trinity Marine Services Ltd), Nicholas Macropoulos (Europa Insurance Company S.A.)
(l to r) George Gourdomichalis (CEO, Phoenix Shipping and Trading S.A.), Haris Petrakakos (P&P MARINE CONSULTANTS), John Firth and Philimon Patitsas ( Atlas Maritime Ltd)
By kind permission of H.E. the British Ambassador, Ms Kate Smith CMG, the Hellenic Committee of Lloyd’s Brokers Associates organized a Lloyd’s briefing and Marine Hull Market discussion at the British Embassy Residence in Athens, on the 2nd November 2017. The event was opened by Maria Kouliga-Pavlou, President of HCLBA, who welcomed the guests, all part of the Greek shipping community. Benno Reischel, Lloyd’s Head of Europe, followed, by
making reference to the long-standing relationship between the Greek shipping Market and Lloyds insurance market. Benno advised of the Brexit arrangements Lloyds have already in place, having set up a new insurance company in Belgium which will be writing European business as from 1st January 2019. Manos Lorentzos, Vice President HCLBA, consequently held a discussion with Iain Henstridge, Head of Hull in Apollo Lloyd's Syndicate and George Gourdomichalis, CEO, Phoenix Shipping and Trading S.A. Manos Lorentzos, Maria Kouliga-Pavlou, John Myrianthopoulos (European Link S.A.), Current issues facing the Phoevos Bartsiokas (Trireme S.A. International Insurance Brokers) marine hull insurance market were discussed and specifically the hardening of the Hull market in London. Iain presented Lloyds figures showing a projected Loss Ratio of 135% for the 2017 policy year, mainly due to recent catastrophe losses related to hurricanes in the Caribbean as well as forest fires in California, which have impacted heavily the reinsurance market. George Gourdomichalis made the point of marine underwriters having been writing unprofitable hull business