01 DEC 2025
Two of the world’s most established mutual insurance providers serving the global shipping and logistics industries announced today they are exploring a potential merger that could reshape the maritime insurance landscape.
The UK P&I Club and TT Club, both managed by Thomas Miller, revealed they are in early-stage discussions about combining their operations to create what would be a uniquely positioned entity spanning the entire maritime and transport sector.
The potential merger brings together two organizations with deep historical roots—the UK P&I Club was established in 1869 and currently insures over 270 million tonnes of shipping, while TT Club, founded in 1968, serves more than 1,400 members across container operations, ports, terminals, and logistics.
The UK P&I Club is one of the 12 International Group P&I Clubs that provide shipowners with liability coverage for risks such as pollution, collisions, and crew claims. TT Club operates in a closely related niche as the leading mutual insurer for ports, terminals, and logistics operators, offering liability and equipment coverage across the intermodal supply chain. Together, they represent the core mutual insurance model that underpins much of global shipping and transport risk management.
“Exploring a merger with the TT Club reflects our strategic focus on achieving greater scale, diversification and sustainable growth,” said Jan Valkier, Chairman of the UK P&I Club. “This merger would create a market-leading maritime and transport insurance mutual, with an exceptional service offering underpinned by enhanced financial strength.”
Valkier emphasized the UK P&I Club’s continued commitment to the International Group, calling it “a cornerstone of our identity.”
The two clubs have worked closely together for years through their common management structure, and their boards agreed in November to formalize discussions about deepening this relationship. The merged entity would leverage complementary strengths across the maritime and transport industries while maintaining the independent brands and service offerings that have earned both organizations their reputations.
Morten Engelstoft, Chairman of TT Club, highlighted the existing synergies between the organizations. “The TT Club and UK P&I Club already have a strong relationship and operational synergies,” he said. “Combining our capabilities while preserving our successful independent brands and service offering will deliver greater value to our respective Members.”
Both clubs cited aligned strategic visions focused on exceptional member service, growth, efficiency, and financial stability as key drivers behind the potential merger. TT Club brings a particularly strong track record of member loyalty, with an average annual customer retention rate consistently above 95% and some members insured for over 50 years.
The discussions remain at an early stage and are expected to continue over the coming months, with no final decision yet reached.