Our partners
American Club Europe
Strong Joint Venture
Since July 2016, HMA has been the exclusive manager of American Hellenic Hull Insurance Company Limited, a joint venture between the American P&I Club and Hellenic Hull Management. This collaboration established American Hellenic Hull as a leading global player in the marine hull and machinery insurance market. The company is recognized as the first Solvency II marine underwriter in Cyprus covering hull and machinery and war risks for all types of vessels.
In February 2022, American Hellenic Hull Insurance Company was renamed ASOMIC, American Steamship Owners Marine Insurance Company (ASOMIC) Europe, also known as American Club (Europe). This rebranding reflected the company's rapid growth and the American Club’s intention to expand its presence in the European market.
Under the name American Club (Europe), the company widened its services to offer protection and indemnity insurance to the international shipping community. The company is owned and financially backed by the American P&I Club and managed by Hellenic Hull Management. More:Â https://www.american-club.com/
Solvency & Financial Condition Report 2024
SFCR 31 DEC 2024 ASOMIC (EUROPE) LTD
Focus, Efficiency, Productivity
Since the company was established in 2016, financial growth is exceeding all expectations. We achieve every target as shipowners around the world welcome our innovative approach.Â
SFC Reports
The first marine underwriter in Cyprus licensed under the Solvency II regime.
The Solvency-II Capital Requirement establishes the amount of capital to be held by an insurance entity in the EU to provide enhanced protection for clients and to ensure to an overwhelming probability that an insurer can continue to meet ongoing obligations to policy holders and beneficiaries.Â
The company successfully complied with the capital requirements and has passed all additional Solvency II financial and operational stress tests.
Compliance
The company places the utmost importance on complying with all existing legal and regulatory requirements.
All individual employees share the responsibility of compliance with applicable laws, regulations and business standards. To this effect, senior management ensures that all executives in each department are fully aware of the regulations, standards and best practices required of them, as well as the compliance risks involved.
Financial Institutions
that approve American Hellenic
