UK P&I and TT Club Begin Talks for Insurance Mega-Merger

 

The UK P&I Club has announced plans to merge with affiliated firm TT Club, a major port insurer managed by the same enterprise, Thomas Miller. The two mutual insurers have a long working relationship and believe that a full integration will add new strength and scale for their respective customers. The combined enterprise would be the largest mutual of its kind in maritime. 

"Both Clubs are highly respected in their own markets and combining the two accelerates progress towards their shared strategic goals," the mutual clubs said in a statement. 

The discussions began in November and are still at an early stage, with additional talks expected in the coming months. UK P&I would remain a member of the International Group of P&I insurers after the integration, and both funds would retain their well-known individual brands. 

"This merger would create a market-leading maritime and transport insurance mutual, with an exceptional service offering underpinned by enhanced financial strength," said UK P&I chairman Jan Valkier in a statement.

The merger talks follow a challenging policy year for UK P&I in 2024, when the club experienced several major claims, notably the allision of the boxship Dali with the Francis Scott Key Bridge. Along with other incidents, it was one of the most expensive pool years in the fund's history. Membership remained strong into the 2025-6 policy year with 162 million gross tonnes in the pool.  

Thomas Miller, which manages both funds, is a specialty insurance firm with $1.6 billion in gross written premium across its business lines. It also manages the UK War Risks Club, Hellenic War Risks Club, and offshore / energy insurer Navata, among many others. It also owns Brookes Bell, a well-known marine consultancy and survey firm often hired in for salvage operations and arbitration claims.