Compre Group has signed a loss portfolio transfer agreement with French insurer Wakam, covering around €140m of reserves related to UK and French property and motor insurance liabilities. The deal includes a forward-flow mechanism to reinsure subsequent years, providing ongoing capital management support for Wakam’s expansion.

Wakam CEO Catherine Charrier-Leflaive sees the partnership as a way to optimize financial strength for future growth, allowing resources to invest in scaling their digital insurance platform across Europe. Compre CEO Will Bridger highlights the forward-flow element as a long-term, capital-efficient solution, showing the strength of their reinsurance platform.

In other news, Compre Group appointed Dominic Clayden as interim global claims director in September and named Rachel Bardon as chief underwriting officer in June. Bardon will oversee business development, new business origination, transaction execution, reinsurance underwriting, and strategic market development.

Read more at Yahoo Finance: Compre and Wakam sign loss portfolio transfer agreement