The Financial Conduct Authority and the Prudential Regulation Authority have approved Wakam UK Limited’s application to operate as an insurer in the UK. The entity is a subsidiary of French group, Wakam. The carrier had already received full branch authorisation to operate in the UK, which was effective from 24 October 2023.

Mark Christer (pictured right), CEO of Wakam UK, said: “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.”

Catherine Charrier-Leflaive (pictured left), 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 €924 million, with more than half of this activity taking place in the UK.”