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FOR IMMEDIATE RELEASE
LONDON - DECEMBER 01, 2025 10:16 AM (EST)
AM Best has commented that the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” (Excellent) of Through Transport Mutual Insurance Association Limited (TTB) (Bermuda) and its subsidiaries, TT Club Mutual Insurance Limited (TTI) (United Kingdom) and TT Club Mutual Insurance N.V. (TTNV) (Netherlands) remain unchanged following its announcement that it is currently engaged in discussions with the United Kingdom Mutual Steam Ship Assurance Association Limited (known as UK P&I Club) regarding a potential merger. TTB, TTI and TTNV are collectively known as the TT Club.
TT Club announced on November 25, 2025, that the Boards of UK P&I Club and TT Club have agreed to explore the possibility of a potential merger since the strategic visions of UK P&I Club and TT Club are closely aligned and combining the two accelerates progress towards their shared strategic goals.
AM Best notes that the discussions remain at an early stage and will continue over the coming months. AM Best will continue to monitor developments and will analyse the impact of the potential merger on the credit ratings of TT Club when the structure of the transaction is finalised over the next few months.
This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best’s Credit Ratings (BCR), Best’s Performance Assessments (PA), Best’s Preliminary Credit Assessments (PCA) and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.
AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.