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American Club

American Steamship Owners Mutual Protection and Indemnity Association, Inc. Shipowners Claims Bureau, Inc.,
1 Battery Park Plaza, 31st Floor, New York, NY 10004, USA
american-Club.com t +1.212.847.4500

Aon’s comment

A successful year for the club. Underwriting results have improved and the club was one of the few to post a positive, if modest, investment return.

Free Reserves against income are at 57.85%.

Entered GT by vessel type

Entered GT by vessel type
Number of ships (owned entries only)
2016 2015 2014
1,050 1,015 1,260
Total owned entered GT
2016 2015 2014
14,100,000 13,900,000 16,700,000
Total chartered GT
2016 2015 2014
1,100,000 1,150,000 1,000,000

Entered GT by region

Entered GT by region

Income Statement (year ending December) USD 000s

  2016 2015
Income Calls and premiums 97,504 114,798
Excess Calls 0 0
Reinsurance Premiums -16,128 -20,553
Total Income 81,376 94,245
Expenditure Net claims incurred -49,364 -65,962
Net operating expenses -33,978 -34,795
Total expenditure -83,342 -100,757
Underwriting result pre investment/other financial income and tax -1,966 -6,512
Investment/other financial income 379 8,202
Tax/interest charged -603 -434
Overall result -2,190 1,256
Free reserves 56,410 58,600

Breakdown of investment by type

Breakdown of investment by type
S&P Rating Current Rating Aug-16
Rating BBB- BBB-
Outlook Stable Stable
Type of rating Interactive Interactive
Policy Year 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
General Increase % 10.0 20.0 7.5 0.0 2.0 5.0 10.0 10.0 2.5 0.0
Supplementary Call Record % 0/25 20/20 25/25 25/25 0/0 0/0 0/0 0/0 0/0 0/0

Release Call Percentage - as at February 2017

2014 2015 2016 2017
12.5% 15% 20% 20%