At its AGM in London, Stelios Magkanaris was appointed Chairman of The Association of Average Adjusters (AAA) for the coming year.

Stelios Magkanaris succeeds Chris Kilbee who stepped down at the meeting having completed his one-year term.

Magkanaris is a Fellow of the Association of Average Adjusters, a qualified Chartered Mechanical and Marine Engineer as well as a Licenced Merchant Navy Engineer Officer. He is director and founder of Maradco (Marine Adjusters & Consultants Inc) in Piraeus, Greece.

On accepting the position, he paid tribute to Mr Kilbee and thanked him for the contribution he made to the Association as Chair. He said:

“I am honoured to be elected Chairman of the Association. During my term in office, I aim to bring to the forefront of the marine insurance and claims community, the tremendous work that the Association has carried out over the past 157 years. I want to promote its vital contribution to the efficient handling of claims and the education of future adjusters and claims professionals.

The profession of average adjusting remains largely unknown outside the narrow sphere of the shipping world that deals directly with marine casualties. Charterparties, loan agreements, sale and purchase contracts take place every day; yet it is only when catastrophe strikes, that someone called an “adjuster” emerges from the shadows to advise on indemnities, rights and obligations under insurance policies, restoring balance between the parties to a maritime adventure and their insurers. It is this vital role that should be better understood and recognised in order to demonstrate its benefit to the shipping industry

He continued:

“Serving as Vice Chairman under Chris Kilbee provided the best possible preparation for my year in office. At the same time, it makes the task ahead all the more challenging as I strive to match his leadership and the exceptionally high standards set by those who have preceded me. It is both a tremendous responsibility and the greatest honour.”

His professional career began as a technical superintendent at one of Greece’s largest shipping companies where he was involved in newbuilding projects and supervision of vessels’ construction at major shipyards. Later he became technical manager at the Swedish Club office in Piraeus and subsequently marine claims manager.

Drawn to marine law and the art of adjusting, Magkanaris completed the full series of professional examinations of The Association of Average Adjusters and qualified as a Fellow in 2017.

He is a graduate in Mechanical and Marine Engineering from the Universities of Surrey (B.Eng (Hons)) and Newcastle upon Tyne (M.Sc) in the UK and a qualified merchant marine engineer officer from the Marine Academy in Greece.