The UK P&I Club, a provider of Protection & Indemnity insurance to the global shipping industry, and the TT Club, an insurance and risk management provider for the international transport and logistics industry, have announced that they are currently engaged in discussions regarding a potential merger.
“The merged Club would have a unique breadth of expertise across the maritime and transport industry and bring together complementary strengths to enable an enhanced and integrated service to Members whilst meeting the evolving needs of the industry,” UK P&I Club stated.
The UK P&I and TT Clubs share a closely aligned strategic vision: to provide exceptional service to their Members while delivering growth, efficiency, and greater financial stability.
Both are highly respected in their respective markets, and their combination will accelerate the achievement of these common goals.
The newly combined Club will gain a unique position, enabling it to better support its members and the wider maritime and transport industries as they navigate future challenges and opportunities.
Jan Valkier, Chairman, UK P&I Club, said: “Exploring a merger with the TT Club reflects our strategic focus on achieving greater scale, diversification and sustainable growth. This merger would create a market-leading maritime and transport insurance mutual, with an exceptional service offering underpinned by enhanced financial strength.”
Morten Engelstoft, Chairman, TT Club, added: “The TT Club and UK P&I Club already have a strong relationship and operational synergies. Combining our capabilities while preserving our successful independent brands and service offering will deliver greater value to our respective Members.”
Discussions remain at an early stage and will continue over the coming months.
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