Marine insurer American Hellenic Hull has undergone a name change as it expands into protection and indemnity cover.
The Cyprus-based outfit has changed its name to American Steamship Owners Marine Insurance Co, or American Club (Europe) for short.
The insurer is owned by the American Club, the New York-headquartered shipowners’ mutual that is one of the 13 members of the International Group of P&I Clubs.
American Steamship said it has expanded its licence to carry out P&I business for European Union and European Economic Area shipowners.
The new P&I business will open from 20 February, the start of the P&I policy year.
The American Club is already an established P&I cover provider in Greece.
American Steamship started when it took over the book of the former Cyprus-based Hellenic Hull Mutual Association in 2016 and demutualised the business.
It is currently generating around $16m in premium annually and covering more than 3,000 vessels.
Under the leadership of chief executive Ilias Tsakiris, the insurer has embraced environmental, social and governance principles.
It was one of the first marine insurers to sign up to the United Nations Principles for Sustainable Insurance programme.
It was also one of the first to sign up to the Global Maritime Forum’s Poseidon Principles for Marine Insurance.
Participants in the scheme pledge to keep the carbon emissions performance of their insurance portfolio in line with the decarbonisation targets of the International Maritime Organization.
