Freight News, Logistics, Sea


Freight insurers vote to join forces

[ October 9, 2026   //   ]

Members of the UK P&I Club and the TT Club have voted in to merge the two organisations and create the first transport mutual insurer for the entire cargo supply chain covering maritime, logistics, ports and terminals. The merger will take effect from 20 February 2027, subject to regulatory approvals.

UK P&I Club insures more than 250 million tonnes shipping while TT Club insures 80% of the world’s container fleet and has an interest in more than 70 of the world’s top 100 ports. The combined organisation will have annual premium income of around US$ 750 million and free reserves of around US$888 million.

Both Clubs will retain their names, brands and existing underwriting, claims and service teams. The Group’s parent company will be called United Transport Mutual Limited (UTM) and will provide governance, capital strength, stability and shared platforms to support the Clubs.

UTM will also serve as the parent entity for the acquisition of Thomas Miller Holdings, following the acceptance in September by Thomas Miller’s shareholders of the Clubs’ joint acquisition offer. Regulatory approval for the acquisition is expected in the coming weeks. 

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