Compre has signed a loss portfolio transfer agreement with Wakam, the French insurer, taking on about €140 million (around $163 million) in reserves tied mainly to British and French motor and property business through year-end 2024.

The deal covers liabilities from 2024 and prior years and includes a forward-flow feature that gives Bermudian-based Compre the option to reinsure subsequent underwriting years. The structure is designed to give Wakam continuing capital-management flexibility as it grows its digital insurance platform across Europe.

Will Bridger, chief executive of Compre, said the agreement marks “another significant transaction as part of our continued growth across Europe”, adding that the forward-flow element points to the group’s ability to provide “long-term, capital-efficient solutions” to clients.

Catherine Charrier-Leflaive, CEO of Wakam Group, said the transaction will help the company redirect resources toward expansion.

“By entrusting legacy liabilities to a specialist partner, we free up resources to invest in what matters most,” she said, calling the structure “smart capital management in action” as Wakam scales its European operations.