TSAVLIRIS SALVAGE GROUP - News & Announcements

New Dynamic Venture in the Insurance Market - 2019 Aug 01

Specialist independent Lloyd's broker and SSL Endeavour Limited ("SSL Endeavour") announced that a wholly-owned subsidiary, SSL Endeavour Insurance Brokers Ltd Cyprus & Greece ("SSL Endeavour Cyprus & Greece"), is now under establishment pending regulatory approval.

The Greek office has been in existence since 2007, under the brand of independent specialist marine broker SSL Insurance Group, which was merged with Endeavour Insurance Services in a pioneering deal backed by JC Flowers last year.

SSL Endeavour Cyprus & Greece is headed up by a highly experienced team including Non-Executive Chairman George Tsavliris, with Manos Sofronis as CEO and Nicolaos Tzimas as Executive Director.

Headquartered in Cyprus with a branch office in Athens, SSL Endeavour Cyprus & Greece will continue to operate as before under the ongoing licence arrangements with the Greek authorities.

SSL Endeavour Group CEO, David Lawrence said, "George, Manos and their team bring with them exemplary shipping and insurance knowledge, very close relationships with both communities and their clients, and I am very confident that they will guide SSL Endeavour Insurance Brokers Ltd into new and exciting era of expansion into regional marine and non-marine lines.

Not only does the formation of this new company ensure continuity of service for our clients regardless of the outcome of Brexit, it also gives us the continued opportunity to expand through both portfolio acquisitions and organic growth, offer new lines of insurance business and develop our wholesale strategy leading to retail distribution."

George A. Tsavliris, Non Executive Chairman, SSL Endeavour Cyprus and Greece said, "I am absolutely delighted to be part of this new, exciting business; the newly formed company will be one of the few true international Lloyd's brokerage houses based in Greece and Cyprus specialising in both Marine and Non-Marine classes of business, and this gives us a distinct differential and advantage over many of our peers. We pride ourselves on our quality of broking and claims service to shipowning and other insurers on a 24 hour basis and we have built up a wide network of people servicing our clients."

Manos Sofronis, CEO, SSL Endeavour Insurance Brokers Cyprus and Greece said, "I established the Greek SSL office in 2007 and since then we have made significant inroads in the Greek shipping community, concentrating on all classes of Marine business to become a dominating force in the market and securing a substantial book of major fleets. Our clientele ranges from some of the largest blue chip shipowners and US listed companies, to smaller more traditional shipping families, and we have raised our profile into the global shipping market and opened doors to some of the best shipping companies both in Greece and overseas as well."

About SSL Endeavour Group: SSL Endeavour is a specialist in the placement of Open Market and Delegated Authority business produced by Direct Clients and Worldwide Agents with several divisions supporting lines of business globally including Marine, Property, Casualty and Specialty.