Embedded insurer Wakam commits to UK market following FCA approval

Wakam has recently received approval from both the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) to operate as a licensed and regulated insurer in the United Kingdom.

Source: Fintech Global

Through its focus on managing general agents (MGAs), embedded insurance, and InsurTech, Wakam aims to lead the European market in deploying white-label insurance products through its business-to-business-to-consumer (B2B2C) channels.

Mark Christer, CEO of Wakam UK commented, “The launch of Wakam UK is a significant development for Wakam and underscores our steadfast commitment to the UK market and our UK clients and partners. Wakam has always been known for its innovation and agility and I look forward to coupling that with the significant talent we have recruited to deliver sustainable profitable growth for our partners and ourselves. ”

Catherine Charrier-Leflaive Group CEO of Wakam added, “We’re delighted to have successfully navigated the stringent FCA and PRA processes enabling the establishment of Wakam UK. In the past year, Wakam has achieved a turnover of €924m, with more than half of this activity taking place in the UK. This launch signals our continued commitment to an essential and particularly dynamic market. I am confident that I can count on the mobilization of all the teams within the group to ensure that Wakam maintains its position as a leading player in this market.”

Read full article: https://fintech.global/2024/04/30/embedded-insurer-wakam-commits-to-uk-market-following-fca-approval/

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