AmTrust International acquires Wakam

AmTrust International has acquired B2B2C insurer Wakam as it looks to expand its specialty insurance operations across Europe and the UK.

The transaction includes Wakam SA and Wakam UK, with the wider business employing more than 230 people.

The insurer holds licences across most European countries and operates pan-European programmes through a delegated underwriting model and MGA distribution partnerships.

AmTrust said the acquisition would provide an additional platform for European growth, combining Wakam’s French presence and local expertise with its wider international operations.

“Wakam highly complements our international business, adding business lines, with delegated authority, that fit well within our appetite,” said Peter Dewey, head of AmTrust International.

”As a leading specialty carrier with six core products, this acquisition is an exciting opportunity to expand into new niche products and geographies. We are pleased to welcome the Wakam team to AmTrust and look forward to working together on profitable growth.”

’Fully capitalised’

The deal comes after Wakam SA received a temporary ban on underwriting new contracts and renewing existing contracts from the French Prudential Supervision and Resolution Authority (ACPR) on 25 September 2026.

Wakam UK was not affected.

Under AmTrust’s ownership, Wakam is now fully capitalised and able to write new business and renew policies across its portfolio in all jurisdictions.

“Joining AmTrust marks a meaningful new chapter for Wakam,” said Olivier Jaillon, chairman of the board and founder of Wakam.

“AmTrust brings the financial strength, underwriting and actuarial expertise, and commitment needed to support our long-term success. We look forward to leveraging the scale, resources and opportunities of a global insurance organisation while continuing to deliver value for our partners and customers.”