The UK P&I Club and TT Club have completed their joint acquisition of the Thomas Miller Holdings group. The deal completed on 21 October 2026, and the clubs announced it from London the next day. UK P&I Club chairman Jan Valkier said that bringing Thomas Miller into mutual ownership keeps the expertise and service members rely on within the mutuals, and keeps the value for members.
The clubs describe the purchase as a step towards one integrated management structure for United Transport Mutual, the group they plan to form by merging. Members approved the merger at meetings on 7 and 8 October. In their 8 October announcement, the clubs said the merger will take effect from 20 February 2027, subject to regulatory approvals.
In the same announcement, the clubs said the UK P&I Club insures more than 250 million tonnes of owned and chartered tonnage and TT Club insures 80% of the world's container fleet. Together they have annual premium income of about US$750m and free reserves of about US$888m. They expect a 5% improvement in the combined ratio, and each club will keep its name and brand.
TT Club chairman Morten Engelstoft said the priority now is a "smooth and carefully managed transition" for members and staff before the merger completes.
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TT Club ↗Company · 22 Oct 2026
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