TT Club and UK P&I Club complete Thomas Miller acquisition ahead of merger
TT Club and UK P&I Club have completed their joint acquisition of Thomas Miller Holdings Group, marking a major step towards the planned creation of United Transport Mutual.
The acquisition was completed on 21 October 2026, bringing the management group under the ownership of the two mutual insurance clubs. The transaction is intended to establish a more integrated management structure and retain the value generated by Thomas Miller within the mutual organisation.
The completion follows the two Clubs’ decision to combine their operations under United Transport Mutual, with the merger scheduled for 20 February 2027, subject to the required regulatory approvals.
Thomas Miller brought under mutual ownership
The acquisition brings Thomas Miller’s management expertise and operational capabilities into the ownership structure of the two Clubs, supporting their plans to establish a unified mutual insurance organisation.
According to the announcement, the new structure is designed to improve operational efficiency, strengthen service delivery and support long-term value for members across the maritime, transport and logistics sectors.
Jan Valkier, Chairman of UK P&I Club, described the completed acquisition as an important development for both organisations.
“Completing this acquisition is a defining moment for both the UK P&I Club and the TT Club,” said Valkier.
He explained that bringing Thomas Miller into mutual ownership would allow the expertise and services used by members to remain within the mutual structure, with the resulting value retained for their benefit.
United Transport Mutual merger scheduled for February
The acquisition represents a preparatory step towards the merger of TT Club and UK P&I Club, which is scheduled to take effect on 20 February 2027.
United Transport Mutual is intended to combine the complementary strengths of the two Clubs, creating a broader mutual insurance organisation serving the transport and logistics industries.
Members of both Clubs approved the proposed merger at separate meetings held earlier in October. However, the merger itself remains subject to the necessary regulatory approvals and has not yet been completed.
Morten Engelstoft, Chairman of TT Club, said the completed acquisition allows the organisations to concentrate on the next phase of their integration.
“Our priority is a smooth and carefully managed transition for our Members and our people,” said Engelstoft.
The two Clubs will now continue preparations for the planned merger, with the completed Thomas Miller acquisition providing the management structure intended to support the future organisation.
