AmTrust Completes Acquisition of European Insurer Wakam

Global Insurance Desk: AmTrust International has completed its acquisition of Wakam, the European B2B2C insurer that includes both Wakam SA and Wakam UK, in a move that strengthens the specialty carrier’s footprint across the continent and the United Kingdom. Financial terms of the transaction were not disclosed.

The deal brings more than 230 employees into the AmTrust fold and adds an established presence in France along with complementary capabilities in the UK market. Wakam specializes in designing white-label insurance products for distribution partners, often embedding coverage directly into partners’ customer journeys. It operates through a delegated underwriting model and maintains relationships with managing general agents, holding licences across most European countries and supporting pan-European programmes.

The acquisition comes shortly after Wakam SA faced a temporary ban on writing new contracts and renewing existing ones, imposed by the French Prudential Supervision and Resolution Authority on 25 September 2026 amid solvency concerns. With AmTrust now providing full capitalisation, the business is once again able to write new policies and handle renewals across all the jurisdictions in which it operates.

Peter Dewey, head of AmTrust International, described the fit as a natural one. “Wakam highly complements our international business, adding business lines, with delegated authority, that fit well within our appetite,” he said. “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.”

Industry coverage from outlets including Insurance Times and Coverager noted that the transaction gives AmTrust a ready platform for further European expansion while giving Wakam access to the group’s underwriting expertise, actuarial resources, broader product range and existing MGA network. For AmTrust, the addition supports its strategy of growing specialty lines through both organic development and targeted acquisitions.

The completion of the deal marks another step in the ongoing consolidation of capacity providers and specialised platforms serving the European and UK markets, particularly those focused on delegated authority and embedded distribution.