Compre has signed a loss portfolio transfer agreement with French insurer Wakam under which it will assume about €140m of reserves, as at 31 December 2024.

The liabilities relate to UK and French motor and property insurance from 2024 and prior years.

The agreement also includes a forward-flow mechanism that gives Compre the option to reinsure future years’ business. This structure is intended to support Wakam’s capital management while enabling more efficient handling of legacy exposures.

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 added: "This partnership with Compre is an important step in optimising 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."

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