Compre Group Holdings Limited (‘Compre’), the Bermuda-domiciled international specialist reinsurance group, today announces it has signed a Loss Portfolio Transfer (‘LPT’) agreement with French insurer Wakam S.A. (‘Wakam’).

The transaction covers approximately €140 million of reserves as at 31 December 2024, relating primarily to UK and French motor and property insurance liabilities for 2024 and prior.

In addition to the LPT, the agreement includes a forward-flow mechanism under which Compre will have the opportunity to reinsure subsequent years, providing ongoing capital management support to Wakam as it continues to develop its business and manage legacy exposures efficiently.

Will Bridger, CEO of Compre, said: “We are delighted to have reached this agreement with Wakam, marking another significant transaction as part of our continued growth across Europe. The forward-flow element demonstrates Compre’s ability to provide long-term, capital-efficient solutions to our partners, reflecting the strength and flexibility of our reinsurance platform.”

Catherine Charrier-Leflaive, Wakam Group CEO stated: “This partnership with Compre is an important step in optimizing our financial strength to fuel future growth. By entrusting legacy liabilities to a specialist partner, we free up resources to invest in what matters most: scaling our digital insurance platform across Europe and delivering innovative solutions to our partners. The forward-flow structure provides ongoing support as we expand, perfectly aligned with our commitment to disciplined execution and operational excellence. This is smart capital management in action — clearing the path for Wakam to focus fully on building the insurance infrastructure of tomorrow.”

– Ends –

For further information please contact:

Compre
David Haggie / Richard Adams / Olivia Thomson, Haggie Partners
+44 20 7562 4444

Wakam
Laurène de Donceel – Wakam Group General Secretary
+33 6 60 91 57 83
laurene.dedonceel@wakam.com

Antoine Mathot – Pattern Strategy
+ 33 6 70 94 54 19 20
antoine.mathot@pattern-strategy.fr

About Compre:

Compre is a leading legacy specialist with over 30 years of experience in the acquisition and management of discontinued and legacy non-life insurance and reinsurance business. Compre has experience of acquiring most classes of direct and reinsurance business, including general liability, marine and motor liability, and US APH. Compre has operations in Bermuda, Finland, Germany, Ireland, Malta, Switzerland, the UK and at Lloyd’s.

www.compre-group.com

About Wakam:

Wakam is a European B2B2C insurer crafting tailor-made insurance solutions for its distribution partners. Wakam designs and operates white-label insurance products, directly embedded into its partners’ customer journeys. Thanks to open APIs and its advanced Play & Plug® technology platform, Wakam can co-create an insurance solution and deploy it across Europe in a very short timeframe. As a European leader in the embedded insurance market, Wakam operates in 30 countries, with a subsidiary in the United Kingdom, and achieved about 850 million euros revenue in 2024 — 70% of which was generated internationally.