Spercialty insurer AmTrust International, which is a subsidiary of AmTrust Financial Services Inc, has acquired Wakam, which specialises in B2B2C insurance solutions and provides white-label insurance products that its clients embed into their customer journeys.

The deal includes Wakam’s two subsidiaries, Wakam UK and Wakam SA and their 230 employees. AmTrust International says the transaction will support its growth ambitions in the UK and Europe.

Peter Dewey, head of AmTrust International, said: “Wakam highly complements our international business, adding business lines with delegated authority that fit well within our appetite.

“As a leading specialty carrier with six core products, this acquisition is an exciting opportunity to expand into new niche products and geographies. We are pleased to welcome the Wakam team to AmTrust and look forward to working together on profitable growth."

Olivier Jaillon, chairman of the board and founder of Wakam, added: “AmTrust brings the financial strength, underwriting, actuarial expertise and commitment needed to support our long-term success. We look forward to leveraging the scale, resources, and opportunities of a global insurance organisation while continuing to deliver value for our partners and customers.”