UK P&I Club to partner with Thomas Miller Specialty for fixed premium P&I
Thomas Miller Specialty, a global insurance provider across a number of sectors including Marine P&I and Offshore Marine and Energy, has announced that its three year close and collaborative partnership for fixed premium P&I with AIG will end with effect from 1st January 2022. This is a strategic move for both Thomas Miller Specialty and AIG with both parties looking forward to continuing their strong and supportive relationship in other business areas going forward.
The new collaboration between Thomas Miller Specialty and the UK P&I Club will create a joined up and market leading partnership between two P&I specialists with a wealth of experience between them. Together the two businesses will provide a fixed premium P&I product with true global reach.
Danielle Champion, CEO, Thomas Miller Specialty, says: "We have strong links with the UK P&I Club and it is the ideal partner to underwrite our fixed premium book. We would like to thank AIG for their support over the years and we will be continuing with the close relationship we have with AIG in other areas of our business."
Andrew Taylor, CEO of UK P&I Club, says: "Thomas Miller Specialty is a great fit for the UK P&I Club and we greatly look forward to working with them more closely in the future. The working partnership between us will further cement Thomas Miller as one of the leading providers of P&I insurance and provide a comprehensive product offering to our mutual client base."
Kristof de Bremme, Global Head of Marine, AIG says: "AIG stepping back as the fixed premium P&I insurer partner for Thomas Miller Specialty is a strategic decision and will allow AIG to provide support to Thomas Miller Specialty in other ways. We look forward to maintaining the close relationship our two companies have and wish Thomas Miller Specialty and the UK P&I Club well in their new partnership together."
For further information, please contact:
Jonathan Atkins/ Alastair Doyle - Four Communications
+44 (0) 20 3697 4200 / ThomasMillerGroup@fourcommunications.com
Notes to editors:
Thomas Miller Specialty
Thomas Miller Specialty Construction is a trading style of Thomas Miller Specialty Underwriting Agency Limited, FCA reg no 312791
Thomas Miller Specialty Underwriting Agency Ltd (TMSUAL) is a commercial Managing General Agent (MGA) offering leading global insurance and related risk management services across a number of sectors, including marine P&I and offshore marine and energy.
All of their specialty risks are underwritten by Thomas Miller Specialty on behalf of Lloyd's of London and select company markets.
The UK P&I Club
The UK P&I Club is a leading provider of P&I insurance and other services to the international shipping community. Established in 1869 the UK P&I Club insures over 240 million tonnes of owned and chartered shipping through its international offices and claims network. 'A' rated by Standard & Poor's with free reserves in excess of $507m, the UK P&I Club is renowned for its specialist skills and expertise which ensure 'best in class', claims handling and loss prevention services.
The UK P&I Club is managed by Thomas Miller, an independent and international insurance, professional and investment services provider.
American International Group, Inc. (AIG) is a leading global insurance organization. AIG member companies provide a wide range of property casualty insurance, life insurance, retirement solutions, and other financial services to customers in approximately 80 countries and jurisdictions. These diverse offerings include products and services that help businesses and individuals protect their assets, manage risks and provide for retirement security. AIG common stock is listed on the New York Stock Exchange.
AIG is the marketing name for the worldwide property-casualty, life and retirement, and general insurance operations of American International Group, Inc. For additional information, please visit our website at www.aig.com. All products and services are written or provided by subsidiaries or affiliates of American International Group, Inc. Products or services may not be available in all countries and jurisdictions, and coverage is subject to underwriting requirements and actual policy language. Non-insurance products and services may be provided by independent third parties. Certain property-casualty coverages may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds, and insureds are therefore not protected by such funds.