American Hellenic Hull Insurance has more than doubled the number of ships on its books since its launch in the middle of last year.

Other key indicators are also looking favourable, with chief executive Ilias Tsakiris reporting to a recent board meeting that the company is progressing ahead of its business plan.

The Cyprus-based insurance company, a wholly owned subsidiary of New York-based American Steamship Owners Mutual Protection and Indemnity Association, inherited business originally written by the Hellenic Hull Mutual, which is now in run-off.

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