The UK P&I Club and the TT Club have announced that they are currently engaged in discussions regarding a potential merger between the two mutual insurers.

The clubs have worked closely together for many years through their common manager, Thomas Miller. At their meetings in November, the boards of both clubs agreed to explore the possibility of cementing this existing relationship through a potential merger. Discussions remain at an early stage and will continue over the coming months.

Jan Valkier, chairman of the 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.”