AmTrust International acquires Wakam

AmTrust International, the UK-based insurance subsidiary of U.S. group AmTrust Financial Services, has acquired French insurer Wakam.

The transaction allows Wakam to resume underwriting new business and renewing existing policies.

The deal covers Wakam SA and Wakam UK, encompassing more than 230 employees.

As a reminder, the French Prudential Supervision and Resolution Authority (ACPR) had prohibited Wakam from underwriting new business or renewing policies due to its financial difficulties.