Merger talks between mutual insurers and the UK P&I Club and Britannia Club have failed to reach agreement.
In a brief statement the two clubs said that talks on a merger that had been ongoing since February had been terminated.
“While a number of potential synergies and benefits were recognised, no agreement could be reached on acceptable terms, and the discussions have now been terminated,” the two clubs said.
The clubs said they would make no further comment.
Had the merger been successful the clubs managers Thomas Miller and Tindall Riley had also planned to merge.
It brings to an end the latest possible consolidation in the P&I insurance sector following the merger of North P&I and Sunderland Marine Insurance in 2014.
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