TT Club and UK P&I Club members approve merger to create the first transport mutual to span the cargo supply chain
Members of the UK P&I Club, and the TT Club have voted strongly in favour of merging the two organisations to create the first transport mutual to span the entire cargo supply chain. Together, the group will cover maritime, logistics, ports and terminals industries. Approval was confirmed at the Clubs’ separate Special General Meetings held ...
Members of the UK P&I Club and the TT Club have approved a merger to form the first transport mutual covering the entire cargo supply chain. The merger, set to take effect in February 2027, combines the UK P&I Club, which insures over 250 million tonnes of tonnage, with the TT Club, which insures 80% of the world's container fleet and has interests in major ports.
Together, the new organization will generate an annual premium income of approximately US$750 million and have free reserves of around US$888 million. The combined entity aims to improve the combined ratio by 5% and enhance its position in a complex, operationally connected risk landscape. Members will continue working with their existing teams while benefiting from the merged Clubs' technical expertise, specialist knowledge, and broader distribution networks.
The new entity, called United Transport Mutual Limited (UTM), will be governed by a board composed of executives from both the UK P&I Club and the TT Club.
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