American Steamship Owners Marine Insurance Company (Europe) Ltd, previously named Hellenic Hull Management (HMA) Limited, was founded in 1994 to act as managers of the Hellenic Hull Mutual Association Plc., the first hull and machinery mutual association for Greek and Cypriot shipowners. During its 28 years of operation Hellenic Hull Management has insured more than 12,500 vessels and more than 450 managing companies with a 99% renewal ratio. The company’s record of zero bad debts illustrates the strength and reliability of its insured clients over many years. Meanwhile, HMA’s underwriting expertise and discipline is evident in a historical loss ratio of 67%. The company maintains offices both in Limassol, Cyprus and in Piraeus, Greece.
Since July 2016, HMA has been the manager of American Hellenic Hull Insurance Company Limited, a joint venture between the American P&I Club and Hellenic Hull Management. American Hellenic Hull’s founders and managers established a leading global player in the international blue-water marine hull insurance market and the first-ever Solvency II marine underwriter in Cyprus. In February 2022, American Hellenic Hull Insurance Company was renamed American Steamship Owners Marine Insurance Company (Europe), or American Club (Europe) for short, expanding its license to include P&I and related business for EU/EEA operators qualifying for such coverage.