AmTrust International buys Wakam a month after the French supervisor stopped its new business

AmTrust International, the international arm of AmTrust Financial Services, has completed its acquisition of Wakam, Reinsurance News reported on 26 October. The deal covers Wakam SA in France and Wakam UK, which together employ more than 230 people. The parties did not disclose financial terms.

The deal comes one month after a regulatory stop. Insurance Business reported that Wakam SA received an order from France's Prudential Supervision and Resolution Authority (ACPR) on 25 September 2026. The order temporarily barred it from writing new business or renewing contracts. It followed a balance sheet remediation in which some legacy assets were written down and the company fell below its solvency capital requirement. Insurance Business put Wakam SA's solvency coverage at 66% at end-2025, against a 100% minimum, after shareholder capital injections of at least €119m: €85m in 2025 and €34m in March 2026. Wakam UK, supervised by the PRA, was not affected and had a 216% ratio, the publication said.

AmTrust says Wakam is now fully capitalised and can immediately write new business and renew policies in all its jurisdictions. According to Insurance Business, the deal removes the restrictions that had left Wakam's MGA and distribution partners without new capacity.

Wakam designs white-label products that partners embed in their own customer journeys. It works through delegated underwriting and MGAs and is licensed in most European countries. Insurance Business said AmTrust gains a French licence with 29 European passports and the Play&Plug embedded insurance platform. Peter Dewey, head of AmTrust International, said Wakam "highly complements" its international business. Founder and chairman Olivier Jaillon pointed to the "financial strength" and underwriting expertise that AmTrust brings.