Compre Announces LPT With Insurer Wakam
Compre Group Holdings Limited, the Bermuda-domiciled international specialist reinsurance group, has signed a Loss Portfolio Transfer [‘LPT’] agreement with French insurer Wakam S.A..
A spokesperson said, “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.”
