According to FF News, the company is getting ready to introduce Wakam UK Limited, its new subsidiary, to the UK market, and this permission represents a major step forward for them.

The clearance strengthens the company's standing as a trailblazing participant in the European insurance market and facilitates the development of white-label relationships with distributors around the continent.

Wakam wants to be the market leader in Europe for the use of business-to-business-to-consumer (B2B2C) channels for the distribution of white-label insurance products. It does this by emphasizing managing general agents (MGAs), embedded insurance, and InsurTech.

The establishment of Wakam's UK subsidiary is evidence of the company's dedication to the UK market, which brings in about £500 million in gross written premiums each year.

Wakam hopes to improve its services for current UK clients with these additional approvals while putting itself in a strong position for future expansion and success by fortifying its scalability procedures and technical foundations.

The firm has brought together a team of more than forty UK-based specialists to assist with the launch. Working with Wakam's Group CEO, Catherine Charrier-Leflaive, and led by CEO Mark Christer, who joined the firm in October 2023, this seasoned group is prepared to profitably drive Wakam's expansion in the UK market.

"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," said Mark Christer, CEO of Wakam UK. Wakam has always been renowned for its inventiveness and adaptability, and I'm excited to combine it with the substantial talent we've brought on board to produce profitable development that is both sustainable for our partners and for us.

"We're delighted to have successfully navigated the stringent FCA and PRA processes enabling the establishment of Wakam UK," said Catherine Charrier-Leflaive Group CEO of Wakam. Over half of Wakam's activities in the last year took place in the UK, contributing to the company's €924 million in revenue. With this launch, we are demonstrating our ongoing dedication to a crucial and extremely dynamic sector. I have no doubt that Wakam will be able to sustain its position as the industry leader thanks to the mobilization of all of the teams within the organization.

Additionally, Wakam UK has assembled a formidable board of directors, which includes seasoned business executives Adrian Brown and Camilla Richardson in addition to Chairman Ian Robinson. Wakam UK's position in the industry is further strengthened by this roster of seasoned specialists, who also guarantee service continuity for partners and clients.