UK P&I Club and TT Club’s joint offer to acquire UK-headquartered insurance provider Thomas Miller has been accepted by over 85 percent of the company’s shareholders.
The acquisition offer was made to shareholders on June 18 by TMH Heresya special-purpose entity jointly established by UK P&I Club and TT Club to facilitate the deal. The acquisition is expected to be completed during Q4 2026, subject to the receipt of requisite regulatory approvals, which are currently in progress. Until then, the Thomas Miller business continues to operate as usual.
To support the transition process, two representatives of TMH Bidco will join the Thomas Miller Holdings board.
“This marks a significant step forward in the strategic ambitions of both the UK P&I Club and TT Club and reflects a shared confidence in the direction we are taking together for the group’s long-term benefit,” said Jan Valkierchairman, UK P&I Club. “We look forward to progressing the transaction and concluding it later this year as we continue to explore our potential merger with the TT Club in parallel.”
Morten Engelstoftchairman, TT Club, added: “Taking full ownership of Thomas Miller will let both clubs operate with a greater alignment and efficiency and, above all, deliver a more integrated service that puts our members first.”
In terms of their merger, UK P&I Club and TT Club have signed a framework agreement which formally commits both clubs to the merger, which is expected to conclude on February 20, 2027, subject to all required approvals.
