Members of the UK P&I Club and TT Club have voted in favour of merging the two organisations, creating a combined mutual insurance group under United Transport Mutual (UTM). Subject to regulatory approval, the merger is expected to take effect on 20 February 2027.
The new group will bring together specialist expertise across maritime, transport, logistics, ports and terminals, extending across the cargo supply chain. Both clubs will retain their individual identities, underwriting approaches and member relationships, while UTM will provide governance, capital management, regulatory oversight and shared capabilities.
For the London Market and wider specialty insurance sector, the merger reflects how established mutuals are evolving their operating models to combine greater scale, technical capabilities and specialist resources while maintaining their distinct market propositions.
