Splash247: Thomas Miller shareholders back UK Club and TT Club takeover

Published by Splash247

UK P&I Club and TT Club have received strong shareholder backing for their proposed acquisition of Thomas Miller Holdings, with acceptances now above 89%.

The offer was made on June 18 by TMH Bidco, a special-purpose vehicle jointly established by the two clubs to carry out the transaction. Completion is expected in the fourth quarter of 2026, subject to regulatory approvals, which remain in progress.

Thomas Miller, the long-established marine and transport insurance services group, will continue to operate as usual while the approval process runs. Two representatives of TMH Bidco will join the Thomas Miller Holdings board to support the transition.

The deal is closely tied to wider merger plans between UK P&I Club and TT Club. The two clubs have signed a framework agreement committing them to a merger, which is expected to complete on February 20, 2027, subject to the required approvals.

Morten Engelstoft, chairman of TT Club, said the response was a strong endorsement of the strategic rationale for the deal. Full ownership of Thomas Miller, he said, would give both clubs a stronger platform to build on shared strengths while maintaining service standards for members.