Morten Engelstoft has been elected as the new Chairman of TT Club as Ulrich Kranich retires. Three new Directors also announced.
The liability insurance provider to the international cargo and logistics industry has announced that Morten Engelstoft is to take over as Chairman of both Through Transport Mutual Insurance Association Limited (Bermuda) (‘TTB’) and TT Club Mutual Insurance Limited (UK) (‘TTI’)* on the retirement of the present incumbent, Ulrich Kranich.
Engelstoft spent thirty-six years in various positions and across three regions within Maersk. He retired in June 2023 from the position of CEO of APM Terminals. He has a depth of knowledge and vast experience in operations that are at the core of TT Club’s membership base.
He commented, “TT Club remains the foremost specialist insurance provider to the majority of container shipping lines, a substantial number of terminal operators and a wide range of logistics and transport operators. I look forward to leading the Boards and helping to guide the Club on its continuing path of providing essential cover and valuable loss prevention advice to a dynamic and vital global transport community.”
Ulrich Kranich retires from his position as Director and Chairman of the Club after sixteen years. Charles Fenton, CEO of TT Club took the opportunity of thanking Kranich. “Ulrich has been a much valued guiding hand in a period that has seen significant change in our industry. His insight and wise advice has been fundamental to TT’s continued success in this period,” he said.
Kranich commented, “It has been an honour to lead such a valued organisation owned by the industry and in Morten the Club has a fantastic person to take the Club forward to continue to support Members ”.
Ulrike Baum of Rohlig Logistics who has been on the Board since 2016 has stepped down as director. She was similarly thanked for her service, which included time on Board Committees.
Marika Calfas of NSW Ports in Sydney has been appointed to the Board; as has been John Chambers, currently Specialist Director – Insurance who also serves on the TTI Board. Miguel d’Orey of Orey Shipping in Lisbon has been appointed to the TTI Board.
*TTB is composed of a large group of directors that meets three times a year and provides leadership and industry view that impacts long-term strategy. TTI is a subsidiary of TTB. A smaller group, it meets more frequently to provide closer oversight of the Club’s operational and financial performance.
About TT Club
TT Club is the established market-leading independent provider of mutual insurance and related risk management services to the international transport and logistics industry. TT Club’s primary objective is to help make the industry safer and more secure. Founded in 1968, the Club has more than 1100 Members, spanning container owners and operators, ports and terminals, and logistics companies, working across maritime, road, rail, and air. TT Club is renowned for its high-quality service, in-depth industry knowledge and enduring Member loyalty. It retains more than 97% of its Members with a third of its entire membership having chosen to insure with the Club for 20 years or more.