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With the UK leaving the European Union, Steamship Mutual chose to set up a new insurance company in Cyprus to service its clients all over Europe and started writing business in February 2020.  Steamship Mutual was attracted to Cyprus because of its clear commitment to the shipping sector and the effort which the government and its regulator have shown in providing a supportive, stable and transparent environment in which to operate.

The Steamship Mutual Group is an S&P Global A rated insurer and leading Protection & Indemnity Club for shipowners and charterers with offices in London, Piraeus, Rio De Janeiro, Hong Kong, Singapore, Tokyo and now Limassol.  Founded in 1909, the Group covers nearly 10,000 ocean and river trading merchant vessels across the globe and writes over $300m of premium.  It is one of the financially strongest insurers in the P&I market.  Steamship Mutual Europe insures the Group’s European members, who make up nearly one third of the Group’s overall business.

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