UK P&I Club and TT Club Approve Merger to Create a Major Global Maritime and Logistics Insurance Group

The international marine insurance sector is entering a significant period of transformation. Members of the UK P&I Club and TT Club have approved the merger of the two organisations to establish United Transport Mutual (UTM), a new mutual insurance group bringing together expertise across maritime transport, logistics, ports and terminals. The merger is expected to take effect on 20 February 2027, subject to the necessary regulatory approvals.

The scale of this partnership highlights its importance to international trade. The UK P&I Club insures more than 250 million tonnes of owned and chartered tonnage, while TT Club provides insurance coverage for 80% of the world’s container fleet and has insurable interests in more than 70 of the world’s top 100 ports. The combined group will have approximately US$750 million in annual premium income and US$888 million in free reserves.

The merger comes against a backdrop of geopolitical uncertainty, rising claims costs and increasingly complex risks throughout global supply chains. Both organisations will retain their brands, specialist teams and established relationships with Members, while strengthening their capabilities in underwriting, claims handling, loss prevention and technical expertise.

For the P&I correspondent sector, this development highlights the importance of specialised and coordinated assistance in ports worldwide. Claims management, response to maritime incidents and cooperation between insurers, shipowners, operators and local maritime professionals will remain essential to delivering effective support. This transformation reflects the growing interconnection between maritime, port and logistics risks.

More information at:

GRUPO STIER
Ship Agency
P&I Correspondents, Surveys.
+ 34 607 55 29 27
+ 34 650 24 75 74
www.stier.es
pandi@stier.es
agency@stier.es